Bankruptcy does not carry the stigma that it once did as more Americans are forced to seek relief under the Bankruptcy Code due to economical struggles. Bankruptcy is not just for those in poverty. This assumption is incorrect as people from all financial classes file for bankruptcy. Not all of your debt will be wiped out when you file a bankruptcy. Some debts are non-dischargeable. Bankruptcy forms are complicated and while it is not necessary to have an attorney, it is advised that you seek professional counsel.

For more about these bankruptcy questions read, “3 Things to Know About Bankruptcy.”