I have no idea what the implications of bankruptcy are in the US, but it sounds like you are alluding to something serious - aside from no credit, what would Manning face in this scenario?
No, you are entirely misreading that. You don’t just get everything reset to zero. So bad credit, yes, but also maybe a condition is that you are still on the hook for legal fees but they have been worked down to 50,000 and the payments have been rescheduled to 20 years.
