Chapter 7 Bankruptcy

24 Mar What To Do If You Are a Creditor In a Bankruptcy?

Most of the posts on this blog, and in fact on most bankruptcy blogs, focus on the consumer as the bankruptcy debtor.  That makes sense--most bankruptcy cases involve a consumer debtor and a number of institutional creditors, like banks and credit card companies.  And those banks...

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02 Mar Bankruptcy Means Test: Student Loans Used to Obtain Dentistry Degree Not “Consumer Debts” Under Section 707(b)

The 2005 Bankruptcy Reform Act's "means test" for chapter 7 bankruptcy filers was weakened by a recent ruling from a Texas bankruptcy court. Under this ruling, student loans incurred for the purpose of obtaining a professional degree to be used in business are not "consumer...

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