I'd say that as of 2005's Bankruptcy Abuse Prevention and Consumer Protection Act our laws aren't so lenient anymore, specifically aimed at pushing most people

I'd say that as of 2005's Bankruptcy Abuse Prevention and Consumer Protection Act our laws aren't so lenient anymore, specifically aimed at pushing most people from discharge of debts (ch7 bankruptcy) to being forced to repay a negotiated amount (ch13 bankruptcy). Theoretically it aims at snaring people who were bankrupting out of their credit card debt, but its definition of "consumer debt" is broad enough that if you took on any personal debt during the birthing of your business, odds are pretty good you can't bankrupt out of it. It's not too bad, of course, when coupled with limited liability from the start of the business venture. In that case, the bankruptcy reform doesn't really touch you - it's only there to catch private consumers.