More About What Bankruptcy Can Do For You

Millions of Americans have achieved debt relief through bankruptcy. If you are considering bankruptcy, there are many things you should know before you file. Please read the information on this page for some interesting facts about bankruptcy. Otherwise, follow the links below to learn more about bankruptcy:

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Did You Know?

Bankruptcy and the law:

  • Bankruptcy is Federal Law of the United States of America.
  • Bankruptcy is written right into the Constitution (Article I, Section 8, Paragraph 4) and therefore, United States Bankruptcy Law has been around for more than 200-plus years.
  • The law states that a person is entitled to start over financially so long as he or she has not been dishonest in getting into debt. Bankruptcy will wipe out most of your unsecured debts and let you keep most, if not all, of your property.
  • It is not a crime to not pay your bills, you cannot go to jail for failure to pay your bills.

It's ok to file bankruptcy:

  • Bankruptcy is nothing more than a fresh financial start. It is designed to help those who are in debt beyond a reasonable means to repay. It is medicine for your financial migraines.
  • Bankruptcy is the necessary safety valve in the free market system. Without bankruptcy, people who are over their head financially would give up or become part of the underground.
  • Society will benefit by your bankruptcy, as you will be able to start over and spend your money locally.
  • People get in over their head financially for many reasons: loss of employment, cut in hours or pay, business failure, divorce, foreclosures and short sales. Most people would avoid bankruptcy if they could, but like many things in life, sometimes bankruptcy just cannot be avoided.
  • While it is not easy to make the decision to file bankruptcy, you will survive. Over 1 million Americans survive bankruptcy every year.
  • Well-known people have filed bankruptcy to protect their personal and business finances.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.