Bankruptcy gives the “Honest Debtor” a “Fresh Start”

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In a case over a 100 years ago, the Supreme Court said that bankruptcy was a way to give a fresh start to an "honest debtor" and to take the "weight" off of his personal or business life, becoming free of debt and moving forward. Specifically they said, "Systems of bankruptcy are designed to relieve the honest debtor from the weight of indebtedness which has become oppressive and to permit him to have a fresh start in business or commercial life, freed from the obligation and responsibilities which may have resulted from business misfortunes." Wetmore v. Markoe, 196 US 68 - Supreme...

08 June

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Historical Background on Bankruptcy

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One of the benefits of working with a competent bankruptcy attorney is that they have knowledge of the United States Bankruptcy Code (title 11, United States Code) and the Federal Rules of Bankruptcy Procedure and how it will apply to your situation. Bankruptcy attorneys have an understanding of how bankruptcy was created and how it continues to evolve. The laws are always changing. The United States Constitution, Article I, Section 8, allows Congress to establish “uniform Laws on the subject of Bankruptcies.” In 1978 Congress enacted the “Bankruptcy Code”. The word code generally means the law regarding the subject of bankruptcy....

19 May

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The Plight of the Pandemic and Finding Solutions

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At the start of 2020, most people looked forward to a good year, maybe even a better year! Why not? Unemployment was at historical lows. In October 2019, The White House reported that unemployment was at a 50 year low of just 3.5%. Also, the stock market was soaring and the housing market was stable. Consumers were shopping, kids were in school, and people were traveling the world. Then, fast forward just six months later! The COVID-19 coronavirus enters the scene. Now, our country is experiencing near 1930's depression unemployment rates, schools are closed, businesses are shut down, and people are...

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Bankruptcy gives the “Honest Debtor” a “Fresh Start”

Historical Background on Bankruptcy

The Plight of the Pandemic and Finding Solutions

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