Do Not Feel Embarrassed to Consider Bankruptcy!

Biblical History of Bankruptcy

One of the earliest recorded descriptions of the concept underlying bankruptcy may be found in Deuteronomy 15:1-2:

At the end of every seventh year you must cancel the debts of everyone who owes you money.

American History of Bankruptcy

Congress established Bankruptcy to help people and businesses in trouble

In America, we established “bankruptcy” laws under our civil code. Modern bankruptcy is based on Article 1, Section 8 of the United States Constitution which gives Congress the exclusive power “to establish uniform laws on the subject of bankruptcies throughout the United States.” Bankruptcy law is designed to provide a “fresh start” for debtors through either liquidation or reorganization. America first established Bankruptcy Laws in 1800 because Americans were facing a harsh economy. Throughout the 19th and most of the 20th Century many bankruptcy laws were passed and repealed, mainly because of changing economic conditions.

Bankruptcy is an established process designed at the federal level to save people anywhere in the United States from becoming completely penniless. The U.S. Congress recognized that it is better to forgive some debt and allow people to get a “Fresh Start” before it is too late and the creditors have completely drained them of their ability to function: to have a home; to have a car; and to get or keep their job. Why? The Congress doesn’t want you to end up totally broken, on the streets, and on the “public dole” – a further drain to the taxpayers – so they created this powerful life raft just for these situations.

The biggest businesses in America use bankruptcy when they are facing financial trouble. Why wouldn’t you take advantage of the same legitimate laws to protect you and your family? Putting this decision off might cause you to go so deep in the hole that you may never recover. Remember, the U.S. Congress established bankruptcy laws because our society does not want you penniless and a ward of the state. Consider being Pro-Active and get your Fresh Start under way.

Take a look at the well-know businesses that recognized that they were in trouble, and used the protections of bankruptcy to give them a fresh start:

You, as an Individual or Family deserve to use the Bankruptcy Laws too!

Undoubtedly, you have ridden a roller coaster, pulled a slot machine lever, flown at 30,000 feet, sat in a movie theater, bought appliances, had lunch or dinner, or purchased products from a DOZEN or MORE of the above companies. ALL used our bankruptcy laws. Many survived and are back stronger than ever. Others were able to stop the bleeding to protect their remaining assets and start new companies with what they were able to save. Don’t you deserve to use the power of these same laws?

If your spouse or family members do not understand why Congress created these protective laws, print this page out and hand the list of companies to your loved-ones. Have them count on their fingers how many well-known companies they recognize. Chances are they’ll run out of fingers!

Call Vincent W. Davis & Associates for a consultation to see how we can save you or your family from the financial situation you find yourself weighted down under.

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