bankruptcy act
who benefits in the event of bankruptcy, the debtor or the creditor?
The court can only adjudge an insolvent debtor bankrupt if there prima facie proof that he has committed an act of bankrupt. Who benefit among the two, debtor and creditor in the event of bankrupt?
NO ONE really benefits.
The debtor might be “free” of his debts, however his credit report is tainted for the next 10 years.
The creditor certainly does NOT benefit, because they only get paid about 10 cents on the dollar, if anything.
Oh – I guess the attorney who handles the bankruptcy case benefits 
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