Case study Bankruptcy Chapter 7 of the bankruptcy law is not the appropriate for Mr. Devon. If Mr. Devon files a petition based on chapter 7 of bankruptcy he will fail, the bankruptcy mean test (Foote, Gerardi. & Willen 2008). He will fail the bankruptcy petition on the two bases of his type of his debts. He has two categories of debts that are not dischargeable in a chapter 7 case. Mr. Devon’s petition will fail means test on the basis that he has debts not dischargeable by the chapter 7 of bankruptcy. Domestic support debts and other divorce-related obligations; including property settlement debts (Porter, 2008). Debtors for most educational benefits and student loans not dischargeable unless...
Words: 275
Pages: 1