Myths and Shame Keep Many from Seeking Bankruptcy Protection
Monday, February 13, 2012 - 09:01
in Psychology & Sociology
Two interesting facts that may counter modern ideas about bankruptcy: The overwhelming majority of U.S. filings belong to individuals rather than corporations or entities, and most of these people wait far too long to seek bankruptcy protection. These are two of many cultural misconceptions associated with bankruptcy in the United States, says Tim Tarvin, associate professor and supervising attorney in the student-staffed Federal Practice Clinic at the University of Arkansas School of Law.