Consumer Bankruptcy Commission Findings

March 27, 2019

COMMISSION TO RELEASE FINAL REPORT APRIL 11

The ABI Commission on Consumer Bankruptcy will unveil its Final Report of recommendations to improve the consumer bankruptcy system on Thursday, April 11. The report will be available at 9 a.m. EDT on April 11 at consumercommission.abi.org. Commission leadership will be holding a live press briefing at 10 a.m. EDT on April 11, and you can watch a live webstream of the event on the site.

Background: Families struggling with debt due to unemployment, massive student loan or medical bills, divorce, death of a spouse or a combination of these factors may consider bankruptcy in order to achieve a fresh financial start. However, the Bankruptcy Code imposes a number of processes and costs that make filing for bankruptcy both expensive and time-consuming for consumers already being crushed by overwhelming debts. For those with student debt, bankruptcy now provides almost no relief. The ABI Commission on Consumer Bankruptcy has researched and recommended improvements to the consumer bankruptcy system. It advocates for updates to the U.S. Bankruptcy Code and Rules so that the system is more accessible and efficient for both financially struggling Americans and the professionals who serve them. The Commission's Recommendations will be released at ABI's Annual Spring Meeting, April 11-14, in Washington, D.C. To find out more about ABI's Commission on Consumer Bankruptcy, please click here: https://consumercommission.abi.org/

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