Carly files a petition in bankruptcy. one of the goals of bankruptcy law with respect to a debtor is to:______.

Carly files a petition for bankruptcy. one of the goals of bankruptcy law with respect to a debtor is to give debtors a financial "new start" by relieving them of their heavy debts.

A person or other entity that cannot pay their debts to creditors may seek relief from some or all of their debts through the legal process known as bankruptcy. Bankruptcy is typically imposed by a court order that is frequently requested by the debtor.

A bankruptcy filing may have a detrimental effect on your short-term financial situation. After filing for bankruptcy, it could be more expensive to get credit. After filing for bankruptcy, security deposits could be necessary to obtain credit.

Three main goals of bankruptcy law are to:

Address the issue of collective action among creditors in dealing with an insolvent debtor,

Give individual debtors who are drowning in debt a "new start," and save and maintain the value of failing businesses as going concerns.

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