The Rhode Island House has passed a bankruptcy-related bill. It allows people who file for bankruptcy to keep five-hundred-dollars of their personal savings.
“It does not serve the public good to create destitution. People file for bankruptcy because they need relief and protection. That protection should include the ability to keep a small amount of money for personal needs. Five hundred dollars is not much to a creditor, but it is enough to make sure a family has groceries between paychecks or can handle a car repair so they can continue to get to work,” said Representative Corvese, a democrat from North Providence.
The bill next goes to the Senate.
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