Curt Wallum
@curtwall.bsky.social
Attorney,
Fmr. Bankruptcy Trustee
Fmr. F.D.I.C. Attorney
Shared-Prosperity Advocate
“We cannot solve our problems with the same thinking we used when we created them.” Albert Einstein.
Fmr. Bankruptcy Trustee
Fmr. F.D.I.C. Attorney
Shared-Prosperity Advocate
“We cannot solve our problems with the same thinking we used when we created them.” Albert Einstein.
Under the 2005 bankruptcy amendments, Congress only took away the bankruptcy rights of consumer debtors. Under Section 707 of the Code, business debts are exempt from that requirement. Profit motivated transactions, such as a financial derivative trade are business debts.
June 13, 2025 at 2:57 PM
Under the 2005 bankruptcy amendments, Congress only took away the bankruptcy rights of consumer debtors. Under Section 707 of the Code, business debts are exempt from that requirement. Profit motivated transactions, such as a financial derivative trade are business debts.
When a Senator, Joe Biden did support the Republican Party’s efforts to limit the bankruptcy rights of student loan borrowers. However, Congress first made it illegal to discharge student loans in 1998 not 1995. And, when it did, the Republican Party controlled both houses of Congress.
June 13, 2025 at 2:48 PM
When a Senator, Joe Biden did support the Republican Party’s efforts to limit the bankruptcy rights of student loan borrowers. However, Congress first made it illegal to discharge student loans in 1998 not 1995. And, when it did, the Republican Party controlled both houses of Congress.