Generally, filing bankruptcy allows people who are having financial difficulties to wipe out their debts. In most cases people filing bankruptcy can keep all of their property. The end result gives people a fresh start in life. Thus, bankruptcy helps people wipe out their debts, keep their property, and get a fresh start!

Bankruptcy law is United States federal law. Thus, just like the constitution, our government has decided that these laws are necessary and helpful to all Americans.

Generally, the lawmakers decided that it is better to have a law that helps people who are having financial troubles, than it would be to let people suffer the stress of attempting to repay debts that they no longer have the ability to repay. The goal is to put people in a position where they can once again become economically vital. Indeed, the U.S. Supreme Court described bankruptcy's fresh start as "a new opportunity in life."

Many people don't realize that bankruptcy laws have been on the books since 1898 in the United States. In the past bankruptcy was a tool used by big companies such as Macy's and Texaco. In 1997, Montgomery Ward's and Levitz filed for bankruptcy. Bankruptcy was also used as a form of protection by celebrities like M.C. Hammer and Leona Helmsley. They used the bankruptcy laws to protect their property, wipe out their debt, and/or restructure their finances, and get a fresh start.

More recently, many other people, employed and unemployed, are beginning to realize that they too can benefit from the bankruptcy laws, and that you don't have to be a big company or even filthy rich to file bankruptcy!

Don't call a bankruptcy counselor until you read this very important message on how to GET FINANCIAL RELIEF!!