Elizabeth Warren unveils plan to overhaul bankruptcy laws, spotlighting differences with Biden

Warren said her bankruptcy plan will make it easier for those who are in debt to obtain relief through bankruptcy, including by ending "the absurd rules that make it nearly impossible to discharge student loan debt."

The plan targets provisions of the 2005 legislation that Warren says made the bankruptcy process more complicated and expensive for individuals. She would do away with paperwork requirements in the bill that she said "imposed the same onerous paperwork requirements on a middle-class American filing bankruptcy that it did on a wealthy real-estate developer."

The plan takes particular aim at Chapter 13 bankruptcy, which Warren characterizes as "longer and less generous" than Chapter 7. Warren noted that black bankruptcy filers are disproportionately drawn to Chapter 13, citingChapter 7 bankruptcies cost about $1,200 while Chapter 13 bankruptcies cost about $3,200, Warren wrote, but Chapter 7 bankruptcy requires filers to have the cash up front, while those in Chapter 13 can pay over time.

Rather than opting for Chapter 7 or Chapter 13 bankruptcy, though, Warren wrote that filers would "choose from a menu of options for addressing their debts."

Bankruptcy should never be needed...shouldn't the government just cover all debt for all reasons? That's where we're headed, isn't it? Govt should pay reparations for anyone who is a member of a group that isn't in favor, so if you're not straight / white / English, you get $

Starting to sound like an SNL skit. But, unfortunately ....

Rack up all the debt you want, the taxpayer will cover it and then we'll ignore bankruptcy filings. Warren would make 2008 look like a walk in the park. People need to wake up, this is BS

She’s lost her friggin mind.

Taxing people 70% will make it very easy for people to achieve Bankruptcy

wHY DOES cnbc TALK MORE ABOUT wARREN THAN THE FRONT RUNNERS?

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