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Blogs by Betty Anne Grillo
Common Personal Bankruptcy Myths and Facts 6/4/2012 5:23:14 AM
Find out what is fact and what is only fiction
Most people think that filing bankruptcy will ruin their economic lives forever. What those individuals fail to see is their economic life is already in a state of ruin. Many lenders view a history of paying bills late as more of a detriment to granting future credit than having a discharged bankruptcy case. After all, once you've filed Chapter 7 bankruptcy and received a discharge of the debts, there is a period of eight years before you can file Chapter 7 bankruptcy again. With no outstanding unsecured debt this actually makes you a better credit risk to lenders.
If your debts are smothering you, or you've been turned down for loans to consolidate your debt or buy a car, consider talking to a bankruptcy attorney sooner rather than later. A valuable guide to fully understand the legal terms and advice you'll encounter is my latest book -
Bankruptcy From A to Z: The Path to Financial Hope and Freedom
After researching easy-to-read information about the subject and learning the language of starting over legally, you just might find that bankruptcy is the smartest financial decision you could make - especially at this time in your life.
Filing bankruptcy is not a character issue, it is truly a dollars and "sense" issue.
