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Closing the Chapter 7 Loophole for High Income Debtors

Heralded by debtor’s attorneys as “a wonderful loophole”1 in the Bankruptcy Code, a debtor who has primarily business, rather than consumer, debts can qualify for a speedy Chapter 7 discharge despite a high earning capacity...more

Two Hurdles to Chapter 7 Bankruptcy

Most people I meet with to discuss bankruptcy want to file a chapter 7 bankruptcy. They may not know exactly what a chapter 7 is, but they want their debt to go away and go away and quickly as possible. Chapter 7 bankruptcy...more

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