ABA has advocated enactment of comprehensive bankruptcy reform legislation that corrects problems in the current bankruptcy system, which often permits those with financial resources to walk away from their financial obligations.
Consumers continue to file for bankruptcy at an alarmingly high rate.
Higher-income filers with an ability to repay some of their debts would be required to do so. Bipartisan majorities of both the House and Senate have adopted comprehensive bankruptcy reform legislation this year. The legislation now awaits final resolution. ABA urges its speedy adoption. E-mail the ABA Webmaster.