Sen. Elizabeth Warren pushes bill to make it easier and cheaper to file for bankruptcy

Continuing a decades-long effort to change the nation's bankruptcy system, Sen. Elizabeth Warren plans to propose legislation on Wednesday aimed at making the process less costly and complicated for the hundreds of thousands of individuals who seek court-sanctioned relief from debt each year. 

"People typically file for bankruptcy for one of three reasons: a job loss, a medical problem or a family breakup — and when they do, they're faced with an expensive and complicated system," the Massachusetts Democrat said in a statement in reintroducing the bill, known as the "Consumer Bankruptcy Reform Act." 

"My bill would simplify and modernize the consumer bankruptcy system to make it easier and less expensive for people to get relief," Warren added.