By James T. Leavitt
Welcome to the Bankruptcy edition of the Communiqué! As many of you know, my primary area of practice is bankruptcy law. I represent business and consumer debtors in all aspects of bankruptcy (along with the occasional creditor). As such, this issue touches on a subject that I have put considerable thought and study into.
Why is bankruptcy important? In times of economic hardship, like those we dealt with during the Great Recession of 2008, bankruptcy allows debtors the opportunity to get a fresh start. Indeed, the lessons we learned during that crisis may return this year, given the fact that bankruptcy filings increased 10.6 percent from September 30, 2024, to September 30, 2025. I know that I have seen a marked uptick in consultations for bankruptcy representation in the last six months. As such, the subject of this issue of the Communiqué seems to be timely.
Our current bankruptcy system is designed to give an honest debtor the opportunity to get relief from their debts through a process that involves full disclosure of all assets and debts. I often refer to bankruptcy as the “safety valve of capitalism.” The reason I say this is that without the ability for people to get relief from their debts, debtors would become less likely to actively participate in our economy. Often throughout history, debt has also been used as a mechanism of slavery.
Our bankruptcy system does what it can to prevent the injustices of debt slavery by allowing debtors to get a fresh start. Our system also allows for debtors to retain certain property after bankruptcy. The public policy reasoning behind this seems to be that we don’t want creditors to leave debtors with nothing, forcing them to depend on other social safety nets to survive. One of the great things about our state is that our laws provide generous exemptions for debtors, preventing creditors from leaving debtors homeless and destitute (in most cases).
During the Great Recession, many of our neighbors, relatives, and friends faced job loss and foreclosure. Many of them used the bankruptcy system to get their lives back on track and protect their primary residences. That’s what it is supposed to be there for. Hopefully, you all find the articles in this issue to be helpful and informative. Our contributing writers are amazingly knowledgeable attorneys in our community, and we are honored by their contributions. Enjoy this month’s issue!
About the author
James T. Leavitt operates Leavitt Legal Services, P.C. in Las Vegas, Nevada. His practice focuses primarily on bankruptcy law and criminal law. James earned his Bachelors degree in U.S. History from UNLV and his Juris Doctorate at the John Marshall Law School in Chicago. James serves as CCBA President through December 2026.
About the article
This article was originally published in the Communiqué (Feb. 2026), the official publication of the Clark County Bar Association.
The Communiqué (Feb. 2026) focuses on bankruptcy law with short articles on interesting topics written by bar members for bar members. Also featured is a variety of content from the printed publication’s recurring columns and highlights on bar activities. Select content is available to read online now. See = https://clarkcountybar.org/about/member-benefits/communique-2026/communique-feb-2026/.
The articles and advertisements appearing in Communiqué magazine do not necessarily reflect the opinion of the CCBA, the CCBA Publications Committee, the editorial board, or the other authors. All legal and other issues discussed are not for the purpose of answering specific legal questions. Attorneys and others are strongly advised to independently research all issues.
© 2026 Clark County Bar Association (CCBA). All rights reserved. No reproduction of any portion of this issue is allowed without written permission from the publisher. Editorial policy available upon request.