Bloomberg quotes Lawless on bankruptcy debt cap increases

Reporting on the Senate approving a bill to permanently raise debt limits for bankruptcy relief, Bloomberg spoke to Professor Robert Lawless about how this could benefit individuals entering bankruptcy. Lawless noted how the change would help personal bankruptcy filers, as mortgage debt had been a big factor limiting options for individuals in high-cost areas. “Home prices had gone up higher than inflation,” Lawless said. “People were getting mortgage debts that were taking them outside of Chapter 13.”

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