As you learn more about Chapter 7 bankruptcy, it's natural to focus your attention on the benefits. For instance, you're able to reduce or eliminate many forms of debt, giving you a fresh start.
Even when you're in good financial shape, you may have concerns about the future. Many people come to find that an emergency, such as a job loss or medical illness, would make it next to impossible to stay current with their bills.
As you work through the divorce process, there's no stopping the many thoughts racing through your mind. For this reason, it's common to believe a variety of divorce myths, all of which will complicate your situation.
When considering bankruptcy, many people turn their immediate attention to Chapter 7. They do so for many reasons, including the ability to eliminate their debt in a timely manner (typically within six months).
For many people who have fallen into immense debt, bankruptcy may be the only way out. Unfortunately, many delay in filing for bankruptcy due to the various myths that surround the practice.