Even a callous, cold and unsympathetic Lady of Justice eventually found room in her heart to allow honest but either daft or unlucky debtors, to be released from debt, under certain conditions. The law's answer to these poor unfortunate is the law of bankruptcy and insolvency.
Bankruptcy has come from some very dramatic beginnings to what is is today: a tool to bail the unfortunate debtor in over his head.
Not all debts are cancelled by personal bankruptcy. Canadian bankruptcy law exempts significant debts from the insovent debtor's magic bullet.
Why shoot yourself in the foot before you're even out of the gate?
Bankruptcy law and the serial bankruptcy filer.