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If You Only Read One Thing
Bankruptcy in a Nutshell
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Your credit isn't "ruined" for 10 years because of bankruptcy.

- Filing bankruptcy does not make you a bad person.


- Most people declaring bankruptcy in the Dallas / Fort Worth Texas area keep everything they own.

- Unless you tell them yourself, your friends, family, and co-workers are unlikely to find out you declared bankruptcy.

- The longer you wait to file bankruptcy, the more it could cost you in the long run.

- Bankruptcy attorneys are not all the same. Follow your instincts and choose a lawyer you like and trust.

- Student loans are not normally forgiven in a bankruptcy.


- Most people represented by an attorney never step foot inside a bankruptcy courtroom.

- You must list all your debts when filing bankruptcy, but you can voluntarily pay back anyone you wish.

- Some older IRS taxes are forgiven in bankruptcy.

- You cannot be fired because you declared bankruptcy.

- The media often reports incorrect information about bankruptcy. Do not make decisions about your family's financial future based on what a television or newspaper report says. Always speak to a bankruptcy professional first before making a decision.