I Got This Bankruptcy Information Off Of The Internet, So It Must Be True. Right?
By Kevin Gipson, New Orleans Bankruptcy Attorney on Oct 8, 2007 in Bankruptcy Myths, Chapter 7 Bankruptcy, General Bankruptcy Information
The Internet is a great source of information, and I suspect, for the most part, accurate information.
It is also a source for what I have come to refer to over the years as “Bar Stool Law.”
What is Bar Stool Law?
Well, Bar Stool Law is the type of legal discussion that you might overhear between a group of people having a few drinks at a bar on any given evening at any given bar throughout the country.
It goes something like this:
Patron One: “Man, I am so far in debt that I think I am going to need to file for bankruptcy!”
Patron Two: “Dude, don’t you know, Congress did away with bankruptcy back in 2005.”
Patron Three: “You don’t know what you’re talkin’ (indicates slurred speech) about! You can still file for bankruptcy, but you got to pay back all of your credit card bills anyway, so why bother?”
As anyone that regularly reads this Blog knows, bankruptcy is alive and well and for most people, they can still file a Chapter 7 bankruptcy and get a fresh start on their financial lives.
However, as a bankruptcy attorney, I still see people on a regular basis that think they can’t get rid of their debts because of changes in the law.
The problem with the Internet is that, much like a bar, very rarely is anybody there to screen the information for accuracy.
One of the main reasons for the creation of the Bankruptcy Law Network is the concern by many of its contributors that too much mis-information about bankruptcy is on the Internet.
From time to time I will call to your attention some of the more outlandish statements that are out there on the web about bankruptcy.
In the meantime, don’t make a decision as important to your financial well being as whether or not to file for bankruptcy without first speaking with an experienced consumer bankruptcy attorney such as those on the Bankruptcy Law Network.
You must be logged in to post a comment.