Fremont Bankruptcy: Bankruptcy History Anecdote

Bankruptcy laws exist under our civil code and are based on powers given to Congress to establish such laws by Article 1 section 8 of the U.S. Constitution.

The Bankruptcy law may provide a "fresh start" for debtors through either reorganization or liquidation.  These laws were created to aid American's facing tough economic conditions.

The Bankruptcy Reform Act passed in 1978 made it easier for individuals and businesses to dissolve debts or reorganize. This allowed those previously indebted to spend again and stimulate the economy. The resulting economic stimulation is one of the principle aims and benefits bankruptcy laws were designed to provide. Call Sagaria Law for consultation with a knowledgable attorney from Fremont.



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