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Report of the National Bankruptcy Review Commission

The National Bankruptcy Review Commission is an independent commission created in 1994 with the aim of "investigating and studying issues related to the Bankruptcy Code". After seeking views and opinions from different parties and evaluating them, the Commission has released a report with more than 170 recommendations to reform the bankruptcy law on October 20, 1997. The most controversial part of the report is on the reform of consumer bankruptcy adopted on a 5-4 vote. The Commission suggests that for consumer bankruptcy, "a uniform approach to exemptions for debtors -- coupled with audits, national filing records and a limit on both repeat filings and the reaffirmation of of unsecured debt -- should help slow or stop the increase in consumer bankruptcies and enable debtors to repay more of their obligations to more of their creditors."
Alternate Title
Bankruptcy: The Next Twenty Years
Archived Scout Publication URL
Date Issued
1997
Data Type
Language
Date of Scout Publication
October 23rd, 1997
Date Of Record Creation
April 3rd, 2003 at 4:23pm
Date Of Record Release
April 3rd, 2003 at 4:23pm
Resource URL Clicks
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