Bankruptcy: Enshrined in Our Constitution to Protect Us

Posted on October 19, 2017. Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Alerts | Tags: , , |

Although several countries have bankruptcy laws of one variety or another, most are designed to assist businesses in financial trouble. The United States is unique in that it is one of very few that have a bankruptcy system designed to assist the consumer debtor. Additionally, this protection afforded by bankruptcy is enshrined in our Constitution.

The New York Times has an article describing the horrors of a country without such a bankruptcy law to act as a safety net for the honest, but unfortunate debtor. The article describes how one Afghani man owed a debt that almost required him to sell his 6 year old daughter in marriage to the creditor when he could not repay the debt.  Thankfully at the last minute, someone paid his debt for him averting disaster.  But how many times in Afghanistan and other countries do debts go unpaid and a child is lost ?  The man had originally borrowed the money to pay for medical bills.

Let us be thankful that we live in a country that allows the honest but unfortunate debtor to be protected from such evils as described in this article, or other evils such as debtor prisons or involuntary servitude to the creditor.

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The Bankruptcy Law and the US Constitution

Posted on March 15, 2016. Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Alerts | Tags: , , |

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The federal government enacted the Bankruptcy Law, as provided for in the US Constitution,  to protect and aid persons and businesses who find themselves trapped in a financial situation in which they can not survive without help. It  can also allow a way to restructure their debts to the benefit of themselves and their creditors. To find out if it can be of help to you, contact an experienced bankruptcy attorney today.

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Happy Independence From Debt Day !

Posted on July 3, 2015. Filed under: Consumer Alerts, Consumer Bankruptcy Attorney | Tags: , , , , , , |

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I hope everyone enjoys their time with family and friends this Independence Day weekend !  As you enjoy this time, and give thanks for our Founding Fathers that made the enjoyment of our Freedoms possible, remember that these same Founding Fathers also made it possible for your to be free of suffocating debt.

Our Founding Fathers placed the following bankruptcy clause in our Constitution:

To establish … uniform Laws on the subject of Bankruptcies throughout the United States;

By doing so, they have enabled you, and future generations of Americans to enjoy the safety net and protection from harassing creditors that it allows.

So remember, that along with your right to Free Speech and Freedom of Religion, you are also guaranteed the Right to Independence from Debt !

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