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