Tag #Bankruptcy Reform

What are the main goals and expected immediate impacts of Senator Warren's Consumer Bankruptcy Reform Act?

Senator Elizabeth Warren introduced the Consumer Bankruptcy Reform Act to simplify the bankruptcy process for individuals facing financial hardship. The bill aims to reduce costs and complexity, addressing common bankruptcy causes like job loss, medical issues, and family breakdowns. It proposes two bankruptcy routes: no-payment discharge for low-income filers and debt-specific plans for others.