When an individual files for bankruptcy, the typical result is that the individual’s debts to all of its creditors—including its bank creditors—are discharged. As a practical matter, this means that those obligations are essentially uncollectable as personal obligations of the bankrupt debtor. (The creditors may retain lien rights, but that is a subject for another...

I. THE DISCHARGE A. The notion of a “fresh start” is one of the three fundamental philosophical tenets of the Bankruptcy Code. 1 B. The concept of the “fresh start” is premised on the notion that in most instances a debtor ought to have a second chance with a clean slate free of personal liability...