Can’t Cancel Your Own Debt Act of 2023

Hozzl · 2023-12-15T15:55:02Z

Explore the details of House Bill 1234 Can’t Cancel Your Own Debt Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Congress. Stay informed on legislative developments.

12/15/2023, 3:55 PM

Summary of Bill HR 1234

Bill 118 hr 1234, also known as the Can't Cancel Your Own Debt Act of 2023, is a piece of legislation currently being considered by the US Congress. The main purpose of this bill is to address the issue of individuals being unable to cancel their own debt.

The bill aims to provide relief to individuals who are struggling with debt by prohibiting creditors from taking certain actions to collect on that debt. Specifically, the bill would prevent creditors from garnishing wages, seizing property, or taking other aggressive actions to collect on debt.

Additionally, the bill would require creditors to provide clear and accurate information to individuals about their rights and options for managing their debt. This includes providing information about debt relief programs, credit counseling services, and other resources that may help individuals get out of debt. Overall, the Can't Cancel Your Own Debt Act of 2023 seeks to protect individuals from aggressive debt collection practices and provide them with the information and resources they need to manage their debt effectively. It is currently being debated in Congress and may undergo changes before being voted on.

Congressional Summary of HR 1234

Can't Cancel Your Own Debt Act of 2023

This bill prohibits a Member of Congress from receiving student loan cancellation for time served in Congress or from a student loan program established or amended by an act of Congress, or set forth by an executive order or agency action, during the period in which the individual is serving as a Member.

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Current Status of Bill HR 1234

Bill HR 1234 is currently in the status of Bill Introduced since February 28, 2023. Bill HR 1234 was introduced during Congress 118 and was introduced to the House on February 28, 2023. Bill HR 1234's most recent activity was Referred to the House Committee on Education and the Workforce. as of February 28, 2023

Bipartisan Support of Bill HR 1234

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Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 1234

Primary Policy Focus

Congress

Alternate Title(s) of Bill HR 1234

Can’t Cancel Your Own Debt Act of 2023Can’t Cancel Your Own Debt Act of 2023To prohibit Members of Congress from receiving a financial benefit from certain student loan cancellation programs.

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