Don’t Believe Bankruptcy Myths
Get The Facts About Bankruptcy Instead
Many myths and misconceptions about bankruptcy continue to circulate. Contrary to what you may have heard, bankruptcy is still an option for most people — and sometimes it is the best option.
At the Law Office of Robert Braverman, LLC we provide straightforward advice about bankruptcy and about what happens after filing bankruptcy. In a free consultation, we can discuss how we can use the bankruptcy laws and other tools to help you get relief from debt.
Bankruptcy Myth #1 — The new bankruptcy laws make it practically impossible to file for bankruptcy.
While there is more paperwork to be completed, you can still obtain debt relief under Chapter 7. Certain higher income people may be required to file under Chapter 13. An attorney at the Law Office of Robert Braverman can evaluate your situation and recommend the best approach for you.
Bankruptcy Myth #2 — If I file for bankruptcy, I will lose my house, car and personal possessions.
In almost all cases, you can keep your house, your vehicles and your personal property, whether you file for Chapter 13 or Chapter 7. If you owe money on a nonessential possession such as a boat or RV, it may make sense to let it go. Nevertheless, you can generally protect your house, your retirement accounts, your vehicles and other personal property.
Bankruptcy Myth #3 — If I file for bankruptcy, my credit rating will be completely ruined.
You will be able to obtain credit, even after filing for bankruptcy. You will typically be able to take out a car loan in as little as six months after filing for bankruptcy. You will be able to take out a mortgage loan in as little as two years after filing. Your bankruptcy will stay on your credit record for 10 years, but it will not generally affect your ability to rebuild your credit and take out most types of consumer loans.
Bankruptcy Myth #4 — I filed for bankruptcy many years ago and I am back in financial trouble. I have no options left.
Even if you have filed for bankruptcy in the past, you can file for bankruptcy again. The Law Office of Robert Braverman can explain your legal options and discuss how we can help you get credit relief by a repeat bankruptcy filing.
Contact a Bankruptcy Lawyer
We are a debt-relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.