A group of bankruptcy experts is calling for law changes to grant consumers greater relief from student loan debt and to curb creditor abuses.
A commission formed by the American Bankruptcy Institute said in its report April 11 that the recommended law and procedure changes would enhance bankruptcy’s promise of a “fresh start.”
The suggested changes also would improve access to Chapter 13 protection for debtors with larger debt loads and to Chapter 7 by changing how attorneys can get paid, said the ABI Commission on Consumer Bankruptcy, which is composed of more than 50 bankruptcy attorneys, law professors, trustees...
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(Updated with additional reporting throughout)