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High Income Debtors and Chapter 7 Bankruptcy

Saturday, October 18, 2008

For all debtors filing for Chapter 7 bankruptcy, read this:

http://www.thebklawyer.com/thebkblog/2008/

It discusses a new type of debtor who makes more than the median & now may have to file for Chapter 13 bankruptcy instead.

It adds this great language to describe Chapter 13 bankruptcy:

Chapter 13 is not a flexible vehicle

This type of high income debtor may become more common in the future if the economy continues to sputter.

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