Congressman Cohen Leads Bill Extending Bankruptcy Relief for Members of the National Guard and Reservists through Judiciary Committee Markup

WASHINGTON – Congressman Steve Cohen (TN-9) today voted for his National Guard and Reservists Debt Relief Extension Act that he introduced in May. The bipartisan measure passed the Judiciary Committee on a 24-0 vote and is now headed for the full House of Representatives. The legislation would provide the same means-test treatment under Chapter 7 of the Bankruptcy Code for guard members and reservists who were recently federally deployed as that of active duty servicemembers. 

During the markup of the legislation today, Congressman Cohen said in part:

“It’s the appropriate manner for dealing with the bankruptcy courts and folks that serve us, and reservists, and the difficulties they might have meeting their debts when they’re sent overseas in particular. Often times, payday lenders hang around military installations and get soldiers to sign payday loans because they’re sometimes under stress and even more stressed when they’re overseas acting as guard members…So this relief is justified. It’s been on the books since 2008 and needs to continue.”

See those remarks here.

# # #