There Are A Lot of Bankruptcy Myths; here's the Most Frequent!

Bankruptcy law has spawned a lot of myths. That's not surprising. It differs from State to State, even though it's a Federal remedy. And it changes entirely from time to time.

The way it did in October, 1979, when the "New Code" came into existence.

And it changed radically again, in 2005.

And at any given time, even Bankruptcy Judges disagree on what it means!