I think we need to be clear about a few things.
@Bruce, I'm not picking on you - many have said much the same thing.
Someone who declares bankruptcy is not getting off easy, I can assure you (FWIW, I've never done it, but I was a director of an energy company that went under during the price crash). And there are no circumstances - none, not one - where it could be said that someone declaring bankruptcy is "exempt from the law." In fact, they are abiding by the law. They will have gotten to know some lawyers or accountants better than they ever thought, and more than most would ever like, and will have had a judge review the most intimate details of their financial life before deciding whether to give them a discharge, or not, and if yes, on what terms. I have no doubt the process is intrusive, emotional and humiliating. Those who have gotten in that situation due to high living will have a harder time than those who were the victims of the economy, a business gone south, etc. That's what judges are for.
We as a society have bankruptcy laws for a reason, and at the end of the process the person is given a fresh start. I understand that it can be hard on creditors who are not paid, but they are entitled to make representations to the court, and have their views taken into account.
We have a system. It's one which while not perfect, serves us well as a society. It is not taking advantage of the system to use it as it was intended to be used. To pillory or abuse someone who uses the system as it is intended to be used is unwarranted, unreasonable and unfair.
