Most people are asking this question when they are beginning to realize the enormous and overwhelming burden they are under financially. Bankruptcy is a frightening thought and often associated with poor decisions or character, so most people are reticent to even entertain the idea.
The irony of this, is that bankruptcy is literally protection, provided to the borrower in the event they cannot reasonably pay off their debt. It allows them a couple options that can circumnavigate the imprisonment of high interest rates and even court orders placed against them.
And in effect, bankruptcy is like flipping a switch to the “off” position when it comes to creditors harassing you with calls, letters and worse. It truly is protection.
But should YOU file bankruptcy? Is it absolutely the best and most effective option available? Do the “cons” outweigh the “pros”?
Blogger Laura Adams, aka The Money Girl, addresses these and more questions and surrounding issues…including 5 important myths about Bankruptcy, in her blog post.
You can read the full post here at QuickAndDirtyTips.com.
Here are some of the myths Laura addresses. Some are sort of humorous although being in the position of making this decision is serious business. Hopefully these can help guide you to the next step of courage…calling an expert. And when you’re ready for that step, we are ready to help you out. We’re all super nice and easy to work with!
Okay, here are the 5 myths…enjoy:
Myth #3: A bankruptcy hurts your spouse’s credit
Myth #4: You can go to jail for owing money
To learn more about these, and any other questions you have about filing bankruptcy, if it’s a good or smart fit for you, and how we can help you out…give us a call today for a free consultation at:
Call (423) 444-0595