• Bankruptcy Myth #3
    “If I file bankruptcy, I’ll never get credit again!” FALSE. On the contrary, my loyal readers, on the contrary.  I would bet $100 that the mailman stuffs just as many credit card offers in your mailbox after the bankruptcy as he did before. Credit card companies loooove customers with seemingly ... read more
  • Bankruptcy Myth #2
    “If I file for bankruptcy, the government will take everything I own.” FALSE. Bankruptcy in the United States dates back to the 1800’s when archaic concepts permitted debtors to retain only their horse and their bible in order to be relieved of financial obligations.  Since then, bankruptcy has undergone various modes of reform. Modern bankruptcy ... read more
  • Bankruptcy Myth #1
    Bankruptcy Myth # 1:  If I file for bankruptcy, everyone will know. While it’s true that bankruptcy is a public proceeding, unless you’re as big as GM or otherwise very popular with the paparazzi, your bankruptcy filing probably won’t make the first page of the paper.  In fact, the likelihood that ... read more