Three Common Myths People Tend to Believe About Bankruptcy

Chapter 7 bankruptcy attorney

In 2013, an estimated 1,071,932 people and businesses filed for bankruptcy — and those are just the numbers for the United States. On top on that, nearly 2 million people were affected by bankruptcies caused solely by medical bills, making medical debt far and away the largest cause of bankruptcy in the nation. That must mean that millions of people throughout America are in hot water, right? That they’ll never be able to build their credit back up or purchase a home? That they’re in danger of losing their possessions forever?

If you believe all that, you’ve likely seen too many fictional portrayals of bankruptcy. That’s because those are just some of the popular myths that tend to get spread in gossip circles like wildfire in a dry forest. In truth, it’s important to understand how to file fo Continue reading