To amend chapter 7 of title 11 of the United States Code, to exclude medically distress debtors from the application of the means test, to amend the Truth in Lending Act to require certain disclosures in connection with credit card applications and solicitations, and for other purposes.
Consumer Debt Prevention and Education Act of 2005 - Amends the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 to prohibit a judge, U.S. trustee, or other party in interest from filing a presumption-of-abuse motion if the debtor is a medically distressed debtor.
Amends the Truth in Lending Act to require credit card disclosures under an open end consumer credit plan to include an explanation of: (1) credit scores and the negative effects that low credit scores can have on the consumer; (2) how being over a credit limit hurts the consumer; and (3) how long it would take paying off a credit balance by just making the minimum payments required, and the effect that negative amortization may have in extending such time.
Introduced in House
Introduced in House
Referred to the Committee on the Judiciary, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on the Judiciary, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on the Judiciary, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the Subcommittee on Commercial and Administrative Law.
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