Hard working Americans have been denied the ability start over due to repressive reform passed in 2001.
Bankruptcy can provide an efficient means of Modifying Mortgage contracts but under current law, contracts on homes are insulated from the courts reach.
These days our students are graduating from college with mountains of student loan debts that sometimes follow them into retirement. Currently Americans CANNOT discharge student loan debts unless they can prove a hardship. In Chapter 13 Bankruptcy we can get rid of credit cards by paying just a percentage but CANNOT propose to pay 100% of Student loans without being forced to pay 100% on credit card debt.
Common sense reforms to the Bankruptcy Code can and will stimulate our economy by reducing debt and increasing consumer demand.