The American Bankruptcy Institute today announced the creation of a Commission on Consumer Bankruptcy. The 15-member expert panel will examine the consumer bankruptcy system and issue a report with recommended improvements that can be implemented within the existing structure. The Commission aims to modernize the consumer bankruptcy system with practical and cost-effective recommendations, building on the framework established by Bankruptcy Code of 1978 and Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The Commission will employ an open, information-gathering model that will allow interested parties across the consumer bankruptcy spectrum to provide input. Read more.
