Sen. Warren and Rep. Nadler Introduce the New Chapter “X” Bankruptcy Bill

The Consumer Bankruptcy Reform Act of 2020 (CBRA)

Coming out ahead of what many experts are declaring will be a wave of bankruptcies in the horizon, Sen. Elizabeth Warren [D-Mass.] and Rep. Jerry Nadler [D-N.Y.], the chairman of the House Judiciary Committee, introduced a bill in Congress last week that would overhaul the consumer bankruptcy process. In their press release, they spell out their attempt to “simplify and modernize” the process. The New Chapter “X” or 10, as it is properly known, bankruptcy proposes to eliminate chapters 7 and 13 in their entirety. 

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Sen. Warren and Rep. Nadler Introduce the New Chapter “X” Bankruptcy Bill – Credit Union Collections – Credit Union Collectors – Northlegal