Before you decide that bankruptcy is what you need, there are many things you need to consider. You are likely to already have misunderstandings of what a bankruptcy can and cannot do for you. The following are just a few things you should know about bankruptcy that you may not be aware of.
You will need to qualify for a bankruptcy
A few years back, congress decided to tighten the bankruptcy laws because they believed too many people were taking advantage of these laws to get out of the responsibility to pay back their debts.