Bankruptcy Myths

This is pretty good, not perfect; but pretty good.

Twelve Myths about Bankruptcy

I would add to the first myth that there are several pretty darn prominent Oklahomans who have filed for Bankruptcy and nobody has noticed until they did something else really stupid and a Journalist decided to see what else they had been up to.

Number 10 is almost true. Frankly, a lot of taxes are completely dischargeable in a Bankruptcy. There is not, however, a special kind of Bankruptcy known as a “Tax Bankruptcy”. That goes in the same rumor mill with the “Medical Bankruptcy”. There are four different kinds of Bankruptcy that may be filed by an individual — Chapters 7, 11, 12 and 13. Any one of them may be used to discharge taxes or medical debt or credit card debt or just about anything else.

Ok, so it could have been better; but 10 out of 12 isn’t bad. Check it out.

Elaine

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