Summary of The Bankruptcy Solution

How to Eliminate Debt and Rebuild Your Life

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The Bankruptcy Solution book summary
How bankruptcy can help you get a fresh start.


8 Overall

9 Applicability

7 Innovation

8 Style


As Dante faced the doorway to hell, he looked up and saw an inscription. “Through me is the way to join the lost people,” it read, “Abandon all hope, you who enter!” Although terrified, Dante crossed that threshold, encouraged by Virgil, his wise and compassionate guide. A descent into bankruptcy can feel just as infernal. Fortunately, Peggy Palms is available as a guide. Like Virgil, she knows the path well: She has walked these rocky switchbacks thousands of times. In 21 well-organized, brief and amazingly readable chapters, she shows how to use the generous and clement U.S. bankruptcy laws to start fresh. getAbstract recommends this solid, basic volume to anyone whose once-friendly creditors have lately turned fiendish.

In this summary, you will learn

  • What the costs and benefits of filing for bankruptcy are;
  • How to distinguish among the main types of U.S. bankruptcy filings;
  • How a typical bankruptcy proceeding unfolds; and
  • How to move on with your life after bankruptcy.


“But I’m a Good Person!”
The problem may have been unexpected medical bills. Or a divorce. Or some very tempting offers from credit card companies. Whatever the reason, you’re now in over your head with slim prospects of surfacing. Is this a moral failing? Hardly. “Debt” sounds shameful...
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About the Author

Peggy Palms is an attorney in North Carolina, where she heads a law firm specializing in bankruptcy.

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