To amend title 11, United States Code, to add a bankruptcy chapter relating to the debt of individuals, and for other purposes.

Bill 118 hr 10500, also known as the "Individual Debt Relief Act," aims to make changes to the United States Bankruptcy Code by adding a new chapter specifically focused on the debt of individuals. The purpose of this bill is to provide a more streamlined and efficient process for individuals seeking relief from their debts through bankruptcy.

The proposed changes in this bill would create a new bankruptcy chapter that is tailored to the needs of individual debtors, as opposed to the current system which primarily focuses on business bankruptcies. This new chapter would provide individuals with a clear and structured path to address their debts and work towards financial stability.

Additionally, the bill includes provisions aimed at preventing abuse of the bankruptcy system, such as requirements for debtors to undergo credit counseling and financial education before filing for bankruptcy. It also includes measures to protect creditors and ensure that debts are repaid to the extent possible. Overall, the Individual Debt Relief Act seeks to modernize and improve the bankruptcy process for individuals, making it more accessible and effective for those struggling with debt.