Knoxville Bankruptcy Experts, Clark & Washington, Reveal Daniel Webster Bankruptcy Troubles
Knoxville bankruptcy lawyers Clark & Wilson note that Daniel Webster, famous Massachusetts senator and U.S. secretary of state, who worked to form bankruptcy law in the 19th century, found himself overwhelmed by debt in later years.
The Early Days of Bankruptcy Legislation
Knoxville bankruptcy experts explain that in colonial times, if a man defaulted on a loan, he was placed in debtor's prison until he paid his creditors what he owed. A bankruptcy bill was passed by Congress in 1798. It required all states to recognize bankruptcy when a debtor was unable or unwilling ...





