O. MAX GARDNER'S TOP 39 BANKRUPTCY MYTHS
1. The Bankruptcy laws have been repealed by Congress.
2. If you did not file for Bankruptcy before October 17, 2005, then you are no longer allowed to file.
3. You cannot discharge any credit card debts under the new Bankruptcy laws.
4. You can keep only one car or truck if you file for bankruptcy.
5. You will have to give up all your vehicles if you file for bankruptcy.
6. The IRS will audit all of your prior tax returns if you file for bankruptcy.
7. You will have to file amended tax returns for the past 4 years if you file for bankruptcy.
8. You can only have one TV and one VCR if you file for bankruptcy.
9. The Bankruptcy Court will take all of your property if you file.
10. You can no longer stop a foreclosure by filing bankruptcy.
11. If you file bankrupty, all of your bank records and tax records will be audited.
12. An FBI agent will come to the home of every debtor and take photographs of everything.
13. Before you can file for bankruptcy, you must pass a written test. Likewise, you must pass another test to get out of bankruptcy.
14. Before you can complete your bankruptcy case, you must pass a lie detector test.
15. After you file bankruptcy, you will never be entitled to another tax refund.
16. If you have any money in a bank account and file for bankruptcy, then all of your money will be taken by the bankruptcy trustee.
17. If you file for bankruptcy, you will never be able to get any new credit for anything.
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