Sen. Elizabeth Warren (D-Mass.) and Rep. Jerrold Nadler (D-N.Y.) have introduced for a third time a bill that would rework US bankruptcy law for individuals, with the goal of reducing fees and making it easier to eliminate student loan debt.
The Consumer Bankruptcy Reform Act of 2024 would get rid of two sections of bankruptcy law, Chapters 7 and 13, that are regularly used by individual debtors. Prior versions of the bill introduced in 2020 and again in 2022 failed to gain traction.
The bill also aims to introduce Chapter 10, under which people would be able to seek a ...
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