Recently, Attorney Todd Esser was featured in an article on creditcardguide.com that looks at some of the myths surrounding consumer bankruptcy.
Here is an excerpt from the article:
Ever heard that you can pull out your credit card and buy a big-screen TV, a diamond ring and a designer bag right before you file bankruptcy, then keep those items as freebies? Like many bankruptcy tales, this one may be inspired by truth, but actually getting away with it is a myth.
“I hear all kinds of stories,” says Todd Esser, a Wisconsin lawyer who focuses on bankruptcy. “And many are more myth than truth.”
That’s partly because bankruptcy is complicated. For starters, there are several types, the most common of which are: Chapter 7, in which most of your debts are wiped away, and Chapter 13, in which you pay back all or part of your debt over three to five years
Read the full article at: http://www.creditcardguide.com/creditcards/debt-tips/6-bankruptcy-myths-probably-think-true/