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US HR532

US HR532
Private Student Loan Bankruptcy Fairness Act of 2013


summary

Introduced
In Committee
Crossed Over
Passed
Dead

Introduced Session

113th Congress

Bill Summary

Private Student Loan Bankruptcy Fairness Act of 2013 - Amends the federal bankruptcy code to remove qualified educational loans as an exception to discharge from bankruptcy.

AI Summary

This bill, titled the Private Student Loan Bankruptcy Fairness Act of 2013, aims to amend the federal bankruptcy code, specifically Section 523(a)(8) of title 11 of the United States Code, to make it easier for individuals to discharge (eliminate) private student loan debt through bankruptcy. Currently, certain educational loans are considered "qualified educational loans" and are generally not dischargeable in bankruptcy, meaning they cannot be easily wiped out. This bill proposes to remove this exception, allowing these private student loans to be treated like other unsecured debts in bankruptcy proceedings, making them potentially dischargeable under the same conditions as other debts. The changes are set to take effect on the date the bill is enacted and will apply to bankruptcy cases initiated on or after that date.

Committee Categories

Justice

Sponsors (45)

Steve Cohen (D)* Madeleine Bordallo (D),  Julia Brownley (D),  G. Butterfield (D),  Lois Capps (D),  Kathy Castor (D),  Judy Chu (D),  Gerry Connolly (D),  John Conyers (D),  Joe Courtney (D),  Danny Davis (D),  Rosa DeLauro (D),  Theodore Deutch (D),  Donna Edwards (D),  Keith Ellison (D),  Anna Eshoo (D),  Raúl Grijalva (D),  Rush Holt (D),  Michael Honda (D),  Hank Johnson (D),  Bill Keating (D),  James Langevin (D),  Barbara Lee (D),  Zoe Lofgren (D),  Jim McGovern (D),  Jerry McNerney (D),  George Miller (D),  Gwen Moore (D),  James Moran (D),  Richard Nolan (D),  Scott Peters (D),  Chellie Pingree (D),  Mike Quigley (D),  Charles Rangel (D),  Tim Ryan (D),  Jan Schakowsky (D),  Carol Shea-Porter (D),  Eric Swalwell (D),  John Tierney (D),  Dina Titus (D),  Nydia Velázquez (D),  Melvin Watt (D),  Henry Waxman (D),  Peter Welch (D),  John Yarmuth (D), 

Last Action

Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. (on 02/28/2013)

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