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Mercy, Rehabilitation, And Quid Pro Quo: A Radical Reassessment Of Individual Bankruptcy, 64 Ohio St. L.J. 855 (2003), Jason Kilborn
Mercy, Rehabilitation, And Quid Pro Quo: A Radical Reassessment Of Individual Bankruptcy, 64 Ohio St. L.J. 855 (2003), Jason Kilborn
UIC Law Open Access Faculty Scholarship
Chapter 7 "straight" bankruptcy discharge is a radical policy that has outlived its usefulness. This policy grants most individual debtors complete discharge of indebtedness from their creditors for little more than a filing fee. This article argues that straight bankruptcy should be abolished. In its place, individuals seeking debt relief should be required by statute to participate in a wage assignment plan for a limited period. In support of this argument the article challenges the three rationales for the validity of straight bankruptcy discharge: (1) the creditor-protection or "collection" rationale,; (2) the "mercy" rationale; and (3) the "rehabilitation" rationale. When …