Bankruptcy Myths & Unicorns

Bankruptcy Myths & Unicorns… As with most things, bad information, gossip and rumors get passed around much more than accurate information and truths ever will. Additionally, more often than not, the bad stuff relates to things that just don’t exist…like unicorns for instance. Although imaginary and mythical, unicorns are creatures reserved for children’s bedtime stories,[…]

Can I Go to Jail for Not Repaying a Debt?

Debtors’ Jail… Debtors’ jails were used in Western Europe during the 19th century for persons that could not repay debts. However, during modern times, these institutions have been generally outlawed and are no longer used, as bankruptcy laws have granted debtors leniency. Nevertheless, debt collectors (and scam artists alike) oftentimes prey on public fears and[…]

Bankyruptcy Type Decisions

Which Bankruptcy Type Looks Better on My Credit – Chapter 7 or Chapter 13?

Bankruptcy Decisions… In deciding whether to file bankruptcy or not, potential clients often ask which bankruptcy type looks better on their credit: a Chapter 7 or Chapter 13? The brief answer is that there is no real difference as to how it affects your credit. However, bankruptcy does impact your credit negatively and can remain[…]