Bankruptcy in “The Count of Monte Cristo”

I’m currently reading a book titled “The Count of Monte Cristo.” The book takes place in 1800s Europe (published circa 1845), and one of its characters is struggling financially and is therefore considering bankruptcy. As he contemplates bankruptcy, the struggling character refers to himself as “an unfortunate but honest man.” (The Count of Monte Cristo, Chapter XXX “September the Fifth,” p. 296). Being a bankruptcy lawyer, this part of the book grabbed my attention, and I immediately recognized those exact words, albeit in a slightly different order:

• “An unfortunate but honest man” - The Count of Monte Cristo, circa 1845

• “The honest but unfortunate debtor” - The Supreme Court of the United States, 1934

90 years later, and again in the context of bankruptcy, the Supreme Court of the United States wrote, “it gives to the honest but unfortunate debtor…a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.” Local Loan Co. v. Hunt, 292 U.S. 234, 244 (1934).

I don’t know if it’s true, but I like to imagine that the Supreme Court justices had read The Count of Monte Cristo, and intentionally used these words, that have now become the hallmark of the American bankruptcy system.

My takeaway is that societies - past and present – understand and embrace the value of periodic debt forgiveness. The idea that honest people are shackled with difficult situations, and those honest people deserve fresh starts.

Another 90 years later, and I am lucky enough to have the opportunity to assist Ohioans in getting this fresh start. Call/Text/Email me today for a FREE phone consultation to see how the bankruptcy code can help you.

Sincerely,

Lucas Ruffing
Attorney
740-815-1114 (call/text)
LucasRuffingLaw@gmail.com (email)