There is a lot of misinformation regarding bankruptcy in local communities and on the Internet. I have had many clients tell me that they’ve heard from a friend or family member that (pick one): filing bankruptcy means you’ll never get credit again, you have to give up everything you own if you file bankruptcy, you can just “file on” a few problem creditors, etc.
But when people read something on the Internet, they tend to give it more weight. Somehow, the Internet gives anonymous posters credibility. I recently read this post on another bankruptcy blog. I believe the paralegal was doing her best to give accurate information. But a lot of the statements she made were simply false. In my opinion, this is dangerous and irresponsible. Despite the disclaimer on her website (“this is not legal advice”), many consumers will make decisions based on what they read rather than on discussions with a lawyer.
Lawyers aren’t the only source of information regarding bankruptcy. But be sure to consider the source and quality of information you get before you make any decisions about your financial future.