Owning a business is not for the faint of heart. While starting a successful business from the ground up can be one of the most rewarding experiences in life, there are many, many businesses that fail every year in Louisiana.
As you may already know, in order to qualify for Chapter 7 bankruptcy you have to pass a "means test." The means test was put in place to reserve bankruptcy for people who need it most. As a result, people with higher incomes are not allowed to file for Chapter 7 bankruptcy.