What is the “Fresh Start”?
As discussed already, bankruptcy is designed to implement the policy of providing an overburdened and honest Debtor a “fresh start.” The fresh start is realized by giving the debtor exemptions for property and providing a discharge for certain pre-bankruptcy debts or implementation of a Chapter 13 re-organization plan. Note that dishonest and improper use of the bankruptcy code is strictly prohibited and punishments can include denial of your discharge, jail time, massive fines, or all three.
