Executive Summary
Executive Summary
USA, Insolvency & Restructuring, Litigation, Tax, Weil Gotshal & Manges LLP, Internal Revenue Service (USA), Internal Revenue Code (USA), Supreme Court of the United States
In a comprehensive report issued last week, the American Bankruptcy Institute Commission on Consumer Bankruptcy proposed recommendations that would allow student loans to be easier to discharge in bankruptcy, citing the staggering $1.5 trillion in student loan debt held in the United States and the current difficulties with discharging this type of debt in bankruptcy.