Is that too strong of a claim? We don't think so. It seems that a lot of the people who are filing for bankruptcy these days get a bad rap for doing so. However, there are two things to keep in mind. One, very few people live their lives with the intention of one day filing for bankruptcy. Two, the bankruptcy process isn't an easy, free pass.
However, the process is tremendously rewarding for those who are struggling to pay their debts. With Chapter 7 you can get a clean slate. With Chapter 13 you can get shelter and restructure your debts without losing your assets. If you're in serious financial trouble, these are two great options to consider. Let's go through a few of the uninformed claims people make about bankruptcy.
Debunking the False Myths
One of the most popular myths is that you'll be totally broke after filing. Even with Chapter 7, in which your assets are liquidated, this is not a true claim. Anyone who believes this has clearly never gone through the bankruptcy process, and is certainly no bankruptcy attorney. When you file, you are seeking sanctuary, a safe haven. The courts are not going to throw you out on the streets with no possessions to your name. You will retain essential assets.
Another popular myth is that you'll never get a decent job. Any good bankruptcy attorney should be able to dispel this myth for you. After you are through filing for bankruptcy, yes, it will appear on your credit report for a few years. However, when an employer is looking at you, it's highly unlikely they will pull up your credit report. They might pull up your credit score, but your score won't reveal your previous state of bankruptcy.
The third popular myth is that you'll never get credit again. Ridiculous. As you have probably learned, credit card companies are all too eager to get some credit in your hands. After you file, you'll probably be surprised how quickly the credit offers start filling up your mailbox. Give it a little while... you'll see! The truth is, credit card companies are raking it in. There are very few people they won't solicit their services to. You may have to spend some time proving yourself before you can start getting good credit again, but it will happen.
If you are feeling like you're in over your head with debt, consider filing for bankruptcy. Speaking with a bankruptcy attorney is one of the best ways to get started!
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 Orange County Bankruptcy Attorney
Get Online Application at online Bankruptcy Lawyer.