Uh, no. You're thinking of BAPCPA, which sucked, but was a far cry from what you're suggesting. Chapter 7 (straight liquidation) is harder but still very possib

Uh, no. You're thinking of BAPCPA, which sucked, but was a far cry from what you're suggesting. Chapter 7 (straight liquidation) is harder but still very possible, especially if you've just been slapped with a multimillion-dollar verdict, while Chapter 13 (individual reorg) came out mostly intact, and 13 does result in discharges (but there are limits to the amount of debt you can have and qualify for 13). BAPCPA: http://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act http://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and... Chapter 7: http://en.wikipedia.org/wiki/Chapter_7,_Title_11,_United_States_Code http://en.wikipedia.org/wiki/Chapter_7,_Title_11,_United_Sta... Chapter 13: http://en.wikipedia.org/wiki/Chapter_13,_Title_11,_United_States_Code http://en.wikipedia.org/wiki/Chapter_13,_Title_11,_United_St...