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Myths About Bankruptcy

Often one of the hardest parts about bankruptcy is dealing with the inaccurate myths about bankruptcy.

bankruptcy myths

In an effort to dispel some of the myths we have assembled a list of myths followed by the facts.

Although we have covered many of the myths there is a lot of misinformation about bankruptcy. As a result we encourage anyone experiencing financial difficulties to call for a free consultation to get the facts.

There is no substitute for the information received at a free consultation.

Now let’s dispel some bankruptcy myths

The myths and facts listed below are a sample of questions commonly asked about Bankruptcy. If you have questions not listed below please contact Allan Marshall & Associates Inc please “Ask a Question”. We Can Help!

Myth: An individual filing for bankruptcy will lose everything.

Myth: Bankruptcy lasts for 7 years and you can’t get credit for that time.

Myth: Student loans cannot be released by bankruptcy.

Myth: Tax debt is not released through Bankruptcy.

Myth: If a husband or wife file for bankruptcy or a proposal their spouse also has to file

Myth: If my spouse and/or I file for bankruptcy, the bank will take our house

Myth: Only bad or irresponsible people file for bankruptcy.

Myth: All bankruptcies are published in the paper.

There are a lot of myths about bankruptcy and proposals. If you have questions or concerns please get the facts before making a decision. Don’t allow yourself to make a poor decision based on inaccurate information. If you have questions or concerns about the information you’ve heard please contact Allan Marshall & Associates Inc to get the facts.

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Scott Marshall BBA, C.I.R.P, L.I.T

Scott is serving as Vice President and managing partner of Allan Marshall & Associates Inc. since obtaining his License as a Trustee (LIT) in 2003. Scott graduated with a Bachelor of Business Administration (BBA) from the University of New Brunswick and is an active member of the New Brunswick business community. In past years, Scott has been a valued member of the Wallace McCain institute.