Myths About Bankruptcy!

I am often surprised by some of the misconceptions that people have about bankruptcy.

Below are some of the more common bankrutpcy myths that I have heard:

  1. You can pick and choose the debts to be included in your Bankruptcy case.
  2. You can pick and choose the property you tell the Bankruptcy court about when filing a Bankruptcy.
  3. You don’t need a lawyer to file for Bankruptcy because all it involves is filling out a bunch of forms.
  4. You can give or transfer property to a relative or someone else you know before filing for Bankruptcy, and that person you gave the property to will be able to keep it.
  5. Income tax debt cannot be discharged in a Bankruptcy no matter how old it is.
  6. If you’re married, both spouses have to file for Bankruptcy.
  7. Only deadbeats file for Bankruptcy.
As I previously stated, these are the most common myths about Bankruptcy that I hear.

In future articles, I will give you the true facts about Bankruptcy.

by , New Orleans, Louisiana bankruptcy lawyer.

About Kevin Gipson, Attorney at Law

I am an attorney licensed in all State and Federal Courts in Louisiana. I practice in the Greater New Orleans Area and work with Consumers to help them with their debt problems. My primary areas of practice are Chapter 7 and Chapter 13 bankruptcy and Student Loan Law.
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