The fairly recent news of the Dodgers Bankruptcy is important story for those fearing bankruptcy to consider. People facing financial difficulties often feel like they are the only ones having money troubles and are reluctant to file for bankruptcy because they are afraid the public will consider them irresponsible. But, this mindset should not be a part of one’s thinking when struggling with debt.

Many people, including famous ones, have faced similar financial difficulties and filed for bankruptcy to discharge their debts. See the list below of a few influential Americans who turned to Bankruptcy in the past:

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I believe most bankruptcy attorneys have probably heard a lot of misinformation about bankruptcy... I know I have.  So, I wanted to write today about the question I get asked the most: “Should I do a short sale, rather than letting the property go in a foreclosure or a bankruptcy?”  People who call me with this question explain, that they have heard from others, that: “A short sale is always smarter as it will save my credit score.”  Unfortunately, what my clients have been told is not always true and more often than not, a short sale may not help them much at all. 

While each person’s circumstance is different, clients tell me that they’ve spoken with others who try to encourage them to do a short sale, as a cure-all to avoid bankruptcy. However, the people who give such advice sometimes do not consider the other debt problems the homeowner may have.

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