What comes to mind when you hear the term bankruptcy? There are many aspects of bankruptcy as well as many different types of bankruptcy filings. Many people in the Tampa area, and elsewhere, have preconceived notions regarding bankruptcy. However, many of those beliefs are not completely accurate. In fact, some myths are entirely wrong.
One common bankruptcy myth, according to U.S. News and World Report, is that anyone who files for bankruptcy is financially irresponsible. Of course, this may be true for some people, but not everyone who has to file for bankruptcy is bad with his or her money. There are many other factors that can lead to bankruptcy. Including long-term unemployment, unexpected medical debt, or going through a divorce.