There used to be such things as debtors prisons, which if you owed money someone could have you thrown into this jail and you basically became a slave! When the founders of this country were planning what should be and what shouldn't this was an area as someone may enter into bad times and cannot help the circumstances. As such debtors prisons were deemed not a realistic solution and as such bankruptcy was made a tool that would gyve someone a fresh start. In order for Territory's to become States of the USA certain policies needed to be in place to assure the Federal Government that States abide by the Federal rule. So amendments such as this were adopted into the State Constitution to ensure that at a later time it couldn't change the law. Just like Utah had to abandon multiple wives in order to become a State.