Before Bankruptcy

Before bankruptcy and debt consolidation existed, people who were unable to repay their debts had very few sources of help. In fact, many were sentences to so-called “debtors’ prisons.” Thankfully, the laws have evolved to allow debtors to repay their debts over time, with interest. Imprisonment for an unpaid debt is now a thing of the past in the US.

If you or someone you know is teetering on the edge of fiscal doom, contact the West Palm Beach bankruptcy attorneys of Eric N. Klein & Associates, P.A. Our team of legal professions can help you determine your options. Call us today at 561-353-2800 to schedule a free initial consultation.

The History of Debt

Until 1869, if a borrower failed to repay their debts in a timely manner, the creditor could report them to the police and they would imprison the debtor. In most cases, they would be thrown into jail with other criminals until their families repaid their debts. However, in some places debtors were forced to become indentured servants until they worked off their debt.

Finally in 1869 imprisonment for debt was outlawed unless the debtor had the means to pay but simply refused. In this scenario, they would be forced to pay and could be incarcerated for up to 6 weeks for being “obstinate.” These days, a person who does not repay his or her debts may face a variety of consequences – but imprisonment is fortunately no longer one of them.

Contact Us

If you or someone you know is struggling to keep up with their bills, they need not fear debtors’ prisons. However, they may want to consider bankruptcy. For more information on how bankruptcy can help resolve debts and get you back on your feet, contact the West Palm Beach bankruptcy attorneys of Eric N. Klein & Associates, PA today at 561-353-2800.