6 Bankruptcy Myths That Can Cost You Everything:
Think bankruptcy will ease your debt burden? Think again.
1. “Bankruptcy offers me a clean slate.”
No. Here’s the truth: in Chapter 11 bankruptcy you still repay 100% of your debt over a period of five years, almost without exception. This means you get no actual debt reduction and your business credit gets destroyed nonetheless. Furthermore, things will get a lot worse if the plan falls ...Continue Reading →