Consumer Law

Video About Bankruptcy Myths

By M. Stan Herring

Getoutofdebt.org has posted an article and a video that sheds light on the "five myths of bankruptcy" and why they're not necessarily true.

The myths are:

You should be dead broke until you file for bankruptcy.
Bankruptcy ruins your credit score.
You lose your home if you go bankrupt.
You should max out your credit cards before going bankrupt.
You should raid your 401(k) to pay your bills before going bankrupt.

Our firm doesn't handle bankruptcy but feel free to contact us to discuss alternatives, particularly if you are dealing with harassment from debt collectors.

Full post as published by Alabama Consumer Blog on August 19, 2009 (boomark / email).