When one of my Columbus bankruptcy lawyer colleagues caught the article “Bankruptcy Myths Debunked”, she thought the Business Insider reporter must have read my book, The Top 10 Myths About Bankruptcy in Indiana.
What’s interesting is that only one or two of reporter Susan Johnston’s top myth picks overlap my own Top 10: “Bankruptcy permanently ruins your credit”. “People who file bankruptcy are often surprised,” the article goes on to say, “by how quickly they’ll start getting credit card offers in the mail again.”
The second myth Business Insider mentions that matches one of my picks is that filing personal bankruptcy in Indiana (or anywhere) means you can’t get credit for ten years. As all good Indiana attorneys for bankruptcy know, this myth is based on a misunderstanding of a fact:
A Chapter 7 bankruptcy will stay on your credit report for ten years.
Over the past 25 years, I’ve helped literally tens of thousands of people file either individual bankruptcy or small business bankruptcy in Indiana. I’ve counseled thousands and thousands of others as well, helping them avoid filing bankruptcy by negotiating with lenders and working with mortgage lenders to help clients of the Zuckerberg bankruptcy law offices stop foreclosure on their homes.
I chose my Top 10 Bankruptcy Myths based on what I learned almost all of these people were most worried about, things my clients thought were true that aren’t. When someone new asks for Indiana bankruptcy information, I can predict that the chief worry areas are these:
My taxes – Myth: Filing bankruptcy in Indiana can’t help with back taxes. False!
My house – Myth: Filing personal bankruptcy won’t help me stop foreclosure. False!
My spouse – Myth: Both of us will need to file bankruptcy &, bankruptcy causes divorce. False!
My reputation – Myth: Everyone will know I’ve filed bankruptcy. False!
My job – Myth: When my employer finds out, I’ll be fired and never be hired again! False!
My self-image – Myth: Bankruptcy means I’m irresponsible & can’t handle money. False!
Myths, all myths. Really. Get my book. (It’s free, and that’s no myth!)
Categorised in: Bankruptcy Indiana
This post was written by Mark Zuckerberg