We all have at least one friend or one family member that focuses on the negative aspects in every situation.  The worst part is, these are generally the least educated people when it comes to whatever the topic may be.  The topic of bankruptcy is no exception.  If you’ve discussed the idea of bankruptcy with other people, it would probably be safe to say there’s at least one person out there that has told you not to do it.  Some people get downright mad when you mention the idea to them.  Well, unfortunately, the stigma surrounding bankruptcy is the cause of such haste.  If you take the time to learn about the relief bankruptcy can provide, you can most certainly debunk whatever the naysayer’s concerns may be.  Here are four common misconceptions and the reasons why they’re not entirely true:

Whether you file for Chapter 7 or Chapter 13 Bankruptcy in Minnesota, there are options for making sure you can keep your house.  One of the common misconceptions about bankruptcy is the one about losing your home.  Whether you have no equity, or some equity in your house, the Federal Bankruptcy Code and Minnesota bankruptcy statutes have provisions that allow you to protect your house.  The most important part is, keep making your mortgage payments.  However, if you’ve fallen behind, don’t worry.  We also have options for making up missed payments.