The Beneficial Bankruptcy
“Fresh Start”

Bankruptcy Is Designed to Give Honest Debtors a Fresh Start!

The goal of bankruptcy is to give a “fresh financial start” to the honest debtor. The implication is that if the debtor has not engaged in misrepresentation, fraud or violated the law in their incurring of debt, and if they have generally acted in good faith in incurring debt, that they should be able to discharge their debt, if they follow the requirements of a bankruptcy case. These requirements include filing schedules, appearing at a creditors meeting and otherwise cooperating with the bankruptcy trustee in giving needed disclosure in the case. The effect of getting a discharge order in a bankruptcy case is that the debtor is now able to start over, free of the debt that was overwhelming them. Often within time, the debtor, free of their debt, can rebuild their credit.