There are some widely held beliefs about debt, money management, and other personal finance topics that aren’t etched in stone as we’ve been lead to believe.Could it be that these pseudo truisms have, in fact, been nothing but fiction all along? The financial stakes are way too high to be taking these bogus notions as fact.Let’s take a look at four of the more common beliefs. The truth may surprise you.Fiction: Bankruptcy is the simplest way to erase debt problems.Fact: Nothing could be further from the truth. For anyone facing the prospect of bankruptcy or already in the process, life can be a living nightmare. Bankruptcy can devastate your career, destroy your marriage, and hurt your health and well-being. Bankruptcy is a life-changing event that can leave permanent scars. Few people who have been through the bankruptcy process would say they came out of the experience unscathed. The bottom line is that bankruptcy is stressful, humiliating, and hugely disruptive to almost anyone’s life. Your best option is to consult with a CERTIFIED FINANCIAL PLANNER™ professional to discuss other possible solutions to get out of debt.Fiction: Leasing is a good […]

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