As is the case with many topics and issues, bankruptcy has its fair share of myths. Given the incredibly negative reputation that bankruptcy has, this isn't surprising. However, bankruptcy isn't the huge "problem" it's often portrayed as being. In fact, it's more appropriate to view bankruptcy as a solution to a problem, rather than a problem in and of itself.
If you are considering personal bankruptcy, you may have already hit the threshold that many experts identify as the point when bankruptcy might be an appropriate legal vehicle for you to get yourself back on solid financial ground. If you have bills you cannot pay and you have no identifiable excess resources coming down the pike, consulting a professional now might be a wise move.
Filing for bankruptcy is a huge step in any person's life, and it's easy to be overwhelmed by the financial and emotional weight of this legal process. There are many steps involved in bankruptcy, and the complicated nature of a filing means that most people will be anxious about the outcome. There are also many fears filers will have going into the bankruptcy process-many of which are unfounded.