Contrary to what Michael Scott though in the TV series The Office, saying “I declare bankruptcyyyyy!”, but Creed Bratton did make a good point that “Bankruptcy, Michael is natures do-over, it’s a fresh start, it’s a clean slate.” In fact, to “declare” bankruptcy is used in reference to the act of filing a bankruptcy petition with the correct bankruptcy court, which commences a bankruptcy case. The word does not have any other special meaning in bankruptcy and is not used in the bankruptcy code or rules.