The Purpose of Bankruptcy: New Opportunity in Life
The Purpose of Bankruptcy is to Help You!
The purpose of bankruptcy is to provide a “new opportunity in life.” As long as you did not lie on your credit applications or hide valuable property, the bankruptcy court will help you get a fresh start.
Many People Have The Wrong Idea
If you are planning to file bankruptcy, many people will give you the wrong idea.. Those people think that bankruptcy is some kind of punishment because you cannot pay your bills. That’s completely wrong!
What the Supreme Court Says About the Purpose of Bankruptcy
In 1934, in the famous case Local Loan v. Hunt, the Supreme Court said:
One of the primary purposes of the Bankruptcy Act is to relieve the honest debtor from the weight of oppressive indebtedness, and permit him to start afresh free from the obligations and responsibilities consequent upon business misfortunes….
This purpose of the act has been again and again emphasized … as being of public, as well as private, interest, in that it gives to the honest but unfortunate debtor . . . . a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.
What My Clients Say About Life After Bankruptcy
One hundred eighty four people who filed bankruptcy with me answered a survey. This “Life After Bankruptcy Survey” asked them if life was better because they file bankruptcy. 93.5% agreed.
Here are some of their comments.
Diana said, “It has made a huge difference in giving me peace of mind. I am living life again, not stressed and felling hopeless.”
Jeff said, “Filing bankruptcy helped me get past difficult times in my life. It was the best choice for a new start toward the future.”
Erik said, “Filing bankruptcy gives you a fresh start and can save your home and bring peace to your household. It was my last hope. I wish I would have done it much earlier.”
Do You Need a New Opportunity in Life?
If financial problems are interfering with your sleep, your health, your life, call today for a free consultation. Call 703-335-7793.
