Six Ways to Qualify for Chapter 7 Bankruptcy (Even If You Think You Can’t)

Episode Summary:
In this episode of All About Bankruptcy, Oklahoma bankruptcy attorney Luke Homen, founder of Convenient Bankruptcy, talks about the surprising number of ways people can qualify for Chapter 7 bankruptcy. Luke outlines six different paths to eligibility, even for those who think they make too much money or own too many assets. From the median income test and the means test to rare exemptions, business debt loopholes, and life-changing financial stories, Luke explains how clients can still find debt relief through Chapter 7. This practical conversation offers clarity for anyone who has been told “no” but still needs a fresh start.

Key Timestamps:

00:01 – Show introduction
01:04 – Median income test based on family size
03:18 – How the means test works and why net income matters more than gross
08:40 – Rare exemptions for service members and war crime victims
11:29 – Converting a Chapter 13 case into a Chapter 7
14:56 – Filing a Chapter 7 under presumption of abuse and telling your story
20:45 – How to rebut the presumption of abuse with unique circumstances
25:32 – Why many people wrongly assume they don’t qualify
28:47 – Business and tax debt as a path to bypass the means test
33:10 – Luke’s advice for anyone who feels stuck or has been told “no”

About the Show:

All About Bankruptcy with Luke Homen helps individuals and families in Oklahoma understand their options for debt relief. With years of experience guiding clients through Chapter 7 and Chapter 13 cases, Luke breaks down the bankruptcy process in plain language and shows how everyday people can get a financial fresh start with confidence.