| Many Debt Collectors Have Been Misleading People About Bankruptcy Reform: So, let me dispel a few of those new myths. Here's the truth. You can still file bankruptcy under the new law. You do not have to pay debts you cannot afford to pay. You do not have to do a debt repayment plan first. You should not take legal advice from a debt collector, especially one who says you do not qualify for bankruptcy.
By Harry D. Boul, Esq.
Copyright 2003
Important Note to the Reader: This web site provides general information about bankruptcy. It is intended to provide encouragement and guidance to individuals in financial distress in obtaining appropriate legal assistance. It is not a substitute for consultation with a lawyer, and should not be considered legal advice concerning anyone's individual circumstances. It will definitely not enable anyone to competently represent himself or herself in a bankruptcy case. Also, please bear in mind that the information contained herein is based in part on Missouri law, and may not apply to residents of other states.
Are you being harassed by bill collectors? Are they threatening to sue you or garnish your wages? What if doing your best will not satisfy your creditors? What can you do? Bankruptcy may be your solution.
Many good people become unable to pay their debts. Notable among them are Samuel Clemens, a/k/a Mark Twain, Harry Truman and Thomas Jefferson. Other famous individuals include Milton Hershey, Wayne Newton and P.T. Barnum. Insolvency can result from illness, medical expenses, job loss, misfortune in business, or unwittingly taking on too much debt. Although all good people would like to pay their debts, not everyone can. In many instances, those who cannot satisfy their creditors, can turn to the Bankruptcy Court for help.
The availability of bankruptcy protection may surprise you, but it is no surprise to your creditors. They know of the risk of debtors' insolvency when they extend credit, and consider it to be part of the cost of doing business.
Many people wonder exactly what bankruptcy means, when it can be used and by whom. This web site is intended to provide straightforward answers to questions about bankruptcy. To learn what bankruptcy is all about, I suggest you begin by clicking on the link on this page entitled, "Bankruptcy FAQ's," or click on any other link to explore its topic.
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