Senator will highlight SB 308 and the need for bankruptcy reform to better protect homeowners in California
San Francisco – State Senator Bob Wieckowski (D-Fremont), a leading advocate for modernizing California’s bankruptcy laws, will deliver welcoming remarks and address attorneys from across the nation on the need to protect homeowners from losing their homes in bankruptcy at the 24th Annual National Association of Consumer Bankruptcy Attorneys National Convention, Friday in San Francisco.
Wieckowski, the author of SB 308, a bill to restore fairness in bankruptcy by updating the state’s laws so they better reflect the high cost of housing and help homeowners in financial distress keep their homes, will speak on how his bill reduces income inequality and provides more security and flexibility for struggling families.
SB 308 has passed the Senate and is currently on the Assembly floor.
WHO: State Senator Bob Wieckowski
WHAT: National Association of Consumer Bankruptcy Attorneys SB 308 speech
WHERE: San Francisco Marriott Marquis, 780 Mission Street, Yerba Buena Ballroom
WHEN: 2:30 p.m., Friday, May 20, 2016
“For bankruptcy to be effective, we must update our laws to reflect our modern realities,” said Wieckowski, a bankruptcy attorney and member of the Senate’s Judiciary Committee. “We have failed to do that in California. In 1975, our bankruptcy homestead exemption was equal to the median California home sales price. Today, the median home price is about $450,000, but the homestead exemption for single residents is just $75,000. Several other states from across the political spectrum do a much better job of protecting homeowners than we do. SB 308 will provide a modest adjustment to help out homeowners, especially seniors, the blind and disabled.”
SB 308 is supported by a coalition of state and local senior organizations, Attorney General Kamala Harris, Treasurer John Chiang, Board of Equalization Member Fiona Ma and public interest law firms.
Senator Wieckowski represents the 10th Senate District, which includes southern Alameda County and northeast Santa Clara County.