Financial loss and economic crisis is one of the major reasons for the increase in the rate of filing bankruptcy. Due to lack of correct information many people are harboring wrong notion regarding the after effect of filing bankruptcy. If you want to quench your thirst regarding your queries then this article can help you get a proper knowledge on filing bankruptcy. Do not need to be a broke: In order to file for bankruptcy you do not have to be a broke. But remember if you are financially well off then there is no need to file for bankruptcy. You might think that only an insolvent is capable of filing for bankruptcy. The bankruptcy code is not dependent upon you being penniless, homeless. But bankruptcy does not mean that you would lose your job or have to surrender your home or court would take possession of your home Bankruptcy declaration might not disrobe you in public: You might think that filing bankruptcy can strip off your reputation in public. But if you are not a celebrity
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