Bankruptcy myths are nothing new. People like to talk about bankruptcy, but unfortunately, most people don't know the truth about what it is that they are talking about. This has led to lies being perpetuated about the process that range from frightening to downright absurd. While this in and of itself is a harmless procedure, the truth is that listening to these bankruptcy myths can result in you choosing to keep from filing - which can cause you to miss out on getting the financial help you need.
Bankruptcy Attorney Orlando, Bankruptcy Lawyers In Denver, Bankruptcy Without A Lawyer,
One of the most popularly circulated myths is that if you choose to file for bankruptcy, you will be plagued by bad credit for a decade. This is one of those myths that have a kernel of truth that got seriously warped over time. While it is true that the bankruptcy itself will remain on your credit report for ten years, this does not mean that you will not be able to regain good credit. In fact, while the bankruptcy is certainly a bad mark on your credit, the truth is that this is actually not what is really hurting your score. In fact, the decisions that led up to you needing to file for bankruptcy, such as forgetting to pay your bills, can be much worse than the actual filing.
This myth often bleeds into the second myth, which is that if you file for bankruptcy that you will never be able to rebuild your credit - even after the bankruptcy is removed from your credit score. This is, again, false. In fact, after you have filed for bankruptcy, you will have gotten your finances into a much more manageable situation. This means that you will have a clean slate with no debts and your financial situations much more organized. You will likely be a much more appealing candidate for credit companies and you will find that you will start receiving credit offers not long after you file. It, however, is cautioned that you choose wisely and that you ensure that make fiscally sound decisions so that you do not end back where you started at before.
Another common myth regarding bankruptcy is that if you file, that you will lose everything that you own and they you will never be able to purchase large ticket items, such as a house or car, ever again. This is false. Under state and federal law, there are several exemptions that will work to protect your assets, ensuring that you are not left with just the shirt on your back. It's true that depending on the chapter that you file that you could lose some of your assets to liquidation, but you will be able to keep the ones that are essential to your livelihood. Similar to the credit, it's also important to realize that you will be able to purchase these items again and with the right financial decisions, it won't even be that long away.
Unfortunately, most people think that filing for bankruptcy means that they are a bad person; this, however, couldn't be any further from the truth. Bad things happen to good people and if you have been struggling with debt, filing could be the solution that you need to get your finances back on track once more. Don't let yourself get caught up in the popular myths that circulate bankruptcy - talk to a local law firm and get the answers that you need. The sooner that you begin your fight to learning the truth about bankruptcy, the sooner that you will be able to find financial stability once more.
The best way to know what you're facing? Get your truth straight from the horse's mouth. Don't listen to your friends or your family members or even your co-workers. The best way to know for sure the truth is to talk to a local bankruptcy attorney. By talking to them, you will be able to learn more about the process and the best way in which you can handle it. You will also be able to answer any questions that you have about the process - such as how long it will take and what you can expect your life to look like after the bankruptcy has been filed.
Fort Lauderdale Bankruptcy Lawyer
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Fort Lauderdale Bankruptcy Lawyer
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment