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U.S. Senate Banking Committee Chairman Christopher Dodd is working to unravel key provisions of a business-backed bankruptcy law enacted in 2005. This is what Nasdaq.Com has reported based on a statement released by Sen. Dodd’s office.

According to the news article, the bill would seek to provide relief to the vulnerable members of society in debt restructuring, including private student loans, medical debts and other mortgages.

The US Senator has scored a point here. Debtors, particularly those who could not pay their debts due to difficult financial circumstances, need assistance and not further digging to the ground which most creditors do.

For the link to the news article, click here.