Did you know that a new reform bill has been introduced on behalf of consumer debtors? Senator Elizabeth Warren and House Judiciary Chair Jerrold Nadler introduced the Consumer Bankruptcy Reform Act 2020, which will make improvements to current bankruptcy law.
- Allowing student loans to be dischargeable through a debt-specific repayment plan
- Reduction in cost and efficiency of bankruptcy relief
- Updated fair federal exemptions: helps debtors keep their home and modest personal property
- Helping renters with back rent to avoid eviction and make payments
- Allowing people to protect their homes and cars during the bankruptcy process.
For a full summary of the bill, please click here: Bankruptcy Reform Act of 2020
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