I understand filing for bankruptcy in some cases, where loss of job, illness, or some unpredictable circumstance happens. Then the people really do need a break to survive.
But I have a problem with people who just over spend greatly, like Teresa and Joe, and then hide behind the law and won't have to pay all that they owe. I don't know that much about BK rules but I thought after filing they only had to pay some or a percentage of what they owe, meaning they don't lose everything. But then those that are owed 100% of whatever they bought are out that money and only get a small compensation. Doesn't that put them in financial difficulty also??
It just doesn't seem fair to me. Sounds more like a legal scam for those who know how to play the system.