Consumer Bankruptcy
Entries across the digest that deal with consumer bankruptcy.
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Bankruptcy & Debt
Chapter 7 and Chapter 13: Eligibility, Process, and Outcome
Chapter 7 sells non-exempt assets and discharges quickly; Chapter 13 pays creditors under a court-approved plan for three or five years and can cure a mortgage default.
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Bankruptcy & Debt
The Means Test and Presumption of Abuse
The means test annualizes six months of income, compares it with the state median, and for higher earners applies fixed deductions to decide whether Chapter 7 is presumed abusive.
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Bankruptcy & Debt
Exempt Property: What a Debtor Keeps
Federal law creates the bankruptcy estate, but state law usually decides what a debtor keeps: most states have opted out of the federal exemption list, and domicile rules govern recent movers.
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Bankruptcy & Debt
Debts That Survive a Discharge
A discharge does not reach every debt. Section 523 lists exceptions, some automatic and some that a creditor must prove in an adversary proceeding filed on a short deadline.
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Bankruptcy & Debt
Credit Counseling, Debtor Education, and Rebuilding After Discharge
Two separate courses bracket an individual bankruptcy case: an approved credit counseling briefing before filing and a debtor education course afterward, which the discharge depends on.
