Is there a stigma to bankruptcy?

Many many years ago, people stigmatized those who did not pay their debts and turned to bankruptcy to solve their financial problems. This stigmatization caused people to be afraid to seek help through bankruptcy because they did not want to be labeled “deadbeats.” They also believed that filing for bankruptcy would affect their ability to seek employment because they would have been regarded as financially irresponsible. The idea that someone would file bankruptcy was just not heard of. It … [Read more...]

Basic Bankruptcy Questions and Answers – Bankruptcy Attorney in Atlanta, Georgia

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Will I lose everything if I file for Bankruptcy? The thought of losing your possessions because you are filing a bankruptcy case scares many people. Many also have private 401(k) accounts, government retirement accounts and personal private pensions or other investments that they think will get seized and used to pay creditors. The idea that this money may be lost is a real concern of clients. There is good news though, when you file a bankruptcy case, the courts allow you to exempt some of … [Read more...]