Bankruptcy 6-3

The number of bankruptcies skyrocketed during the Great Recession, especially since so much of it was based on building house equity and no-doc loans. 

Several in the industry are predicting another jump in the next few years from a combination of medical costs becoming prohibitive and people not being able to keep up with their medical bills, and from a realization that student loans cannot be dischargeable in bankruptcy court except in very rare circumstances (a pre-med student has $60K in student loan debt and joins the Army to help pay for the cost. He then suffers a head injury that will prevent him from ever working in the medical field. The debts can be discharged for undue hardship, but it is very rare.).

In 1997, the Bankruptcy Code changed, making it more difficult for debtors to discharge credit card debt. Many blamed the high powered bank lobbyists for these changes. What do you see coming for the bankruptcy laws in the future?