In my opinion there is a huge amount of misinformation out there about bankruptcy.
Some of it I’d call ‘Urban Myths’ and when you look into it a bit more closely you realize it just isn’t true at all.
For example, a friend or relative might tell you not to go bankrupt because you would lose your passport, and so would not be permitted to travel overseas.
This would be extremely unlikely, but because you hear it from a trusted source then most likely you will believe it to be true.
I think a lot of the misinformation about bankruptcy is put out by those who have a business interest in keeping you in debt, for example the debt collection and debt management industries.
The last thing they want to hear about is you filing for bankruptcy as this ends their conversation with you, permanently.
The core truth about bankruptcy is that, from your perspective, your problem debts will be cancelled immediately.
The most common myths that debt collectors or Debt Agreement salesman tend to talk to about are.
There are dozens of other ‘Bankruptcy Myths’ out there.
These are just a few of the more common ones that I hear most often.
If someone is talking to you about bankruptcy and you think what they are saying might be a ‘Bankruptcy Myth’ then please give us a call on 1300 794 492 or send an email to email@example.com