In your current financial situation, filing for bankruptcy may be your best option to finally becoming debt free and start to accumulate a better credit score. However, you may feel that bankruptcy is a scary step. This is usually because of some misconceptions that surround bankruptcy. Here are some important things to know that can ease your mind about filing:
You Don't Have to Lose All Your Assets: Many times, as a way to pay off the debt, the creditors are going to ask for ownership of your assets.