On this day in 1821, Kentucky became the first state to abolish debtors’ prison. The federal government and other states followed suit over the next several decades, and by the end of the nineteenth century bankruptcy law had replaced debtors’ prison in the United States. In 2008, more than one million Americans filed for bankruptcy protection.
We represent individual and corporate creditors and debtors in a wide variety of financial dilemmas, including bankruptcy and non-bankruptcy financial disputes. Call us to learn more and to arrange a consultation: (910) 763-3626