If you are falling behind in your bills and struggling to pay off delinquent debts, then bankruptcy may be an option for you to consider. Many people in Pennsylvania file for bankruptcy every day. The opportunity to have certain debts discharged or erased to gain a new financial start is tempting, but there are rules and stipulations in place that may or may not work well with your situation. Before you start filling out any paperwork, you should take a moment to learn if it is the best choice for your circumstances.
The decision to file bankruptcy is a stressful one. Although the number of bankruptcies in the United States is on the decline, it's estimated that more than one million people will file a Chapter 7 or Chapter 13 this year. A bankruptcy can help you get past a financial setback, but there are many things you need to consider. Most importantly, you need the truth about the law and your situation. Here are a few of the myths associated with bankruptcy: