Remove about-bankruptcy bankruptcy-myths
article thumbnail

Debunked: Myths about Chapter 11 bankruptcy

Albuquerque Law

Business owners have several options to handle their debt, including Chapter 11 bankruptcy. However, many business owners avoid bankruptcy because of the common myths surrounding this debt relief option. Business owners must be aware of these myths – and the truth about Chapter 11 bankruptcy. Delta Airlines.

article thumbnail

Debunked: Myths about Chapter 11 bankruptcy

Albuquerque Law

Business owners have several options to handle their debt, including Chapter 11 bankruptcy. However, many business owners avoid bankruptcy because of the common myths surrounding this debt relief option. Business owners must be aware of these myths – and the truth about Chapter 11 bankruptcy. Delta Airlines.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Common misconceptions concerning bankruptcy

Roths Child Law

One option is to file for bankruptcy. People are often put off when hearing the term bankruptcy, because there are some negative stereotypes associated with this term. However, these misconceptions are often rooted in myths. Debunking these myths can help debtors to make truly informed decisions about their options.

article thumbnail

5 Common Bankruptcy Myths and the Truth Behind Them

Debt Free Colorado

Learn about the Five Bankruptcy Myths in Littleton, Colorado Due to worries stoked by myths and misconceptions about bankruptcy, many people choose not to obtain debt relief. Truth be told, declaring bankruptcy may be one of the best decisions you’ve ever made for your present, future, and family.

article thumbnail

How common is bankruptcy?

Albuquerque Law

This isolation can make it seem like debt is not a common issue, or that bankruptcy is not a common solution. Bankruptcy is more common than many people might believe. It is rare for people to publicly discuss their financial hardship, much less their decision to file bankruptcy. 522,808 personal bankruptcies in 2020.

article thumbnail

Bankruptcy and Unemployment

Sawin & Shea

In this situation, you may be wondering whether bankruptcy could be a good solution. Let’s look at how bankruptcy works when you’re unemployed and whether this could be a path to clearing away all that old debt. Income Requirements for Bankruptcy. Because you’re unemployed, Chapter 7 bankruptcy might be the best choice for you.

article thumbnail

When is filing for Chapter 7 bankruptcy a good idea?

Roths Child Law

Bankruptcy Code reserves certain opportunities for those who are least likely to be able to repay their debts any time soon. Unlike Chapter 13 bankruptcy, which is available to most Americans, Chapter 7 bankruptcy is only available to low-income filers. Under those circumstances, Chapter 13 bankruptcy is usually preferable.