Profligate is a word of varied meanings. It means:
- immoral and shameless,
- extremely wasteful or recklessly extravagant,
- given over to dissipation or dissolute person.
A spendthrift is also called a profligate. Under the U.S. law the only remedy for a profligate is bankruptcy. Bankrupt persons are not allowed to form legally binding contracts. Bankruptcy laws deal with profligate persons.