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California Bankruptcy Myths Reveled

What You’ve Heard About Bankruptcy is Wrong

There are many negative things that people hear about bankruptcy. People in financial trouble often hear that their possessions will be taken away. They worry that their reputations will be ruined. Often, they go through retirement savings or take out second mortgages just to try to pay. What they don’t know is that many of the things people believe to be true about bankruptcy are actually false — they are bankruptcy myths.

At Attorney Debt Reset, with offices in California, we help our clients beat these bankruptcy myths by guiding them through the bankruptcy process. When clients visit us for their free initial consultation, we often sit down with them and review common bankruptcy myths to help them decide whether or not bankruptcy is the right option for them.

MYTH #1: If I File, My Neighbors Will Find Out

Many people delay filing for chapter 7 or chapter 13 bankruptcy because they are worried about the stigma of filing, but the reality is that many otherwise successful people have filed for bankruptcy. These include Mark Twain, Walt Disney and even Donald Trump. More than ever before, people understand that financial problems are often beyond your control.

MYTH #2: If I File, I’ll Never Be Able to Get Credit Again

People worry that they will never be able to get credit again after filing for bankruptcy. This is simply not true. Our clients report receiving credit card offers only months after filing. Many are able to buy cars at reasonable interest rates and to purchase homes with FHA loans.

MYTH #3: I Will Lose Everything If I File For Bankruptcy

If you file for bankruptcy, you actually will be able to keep most of your possessions. California bankruptcy law has certain exemptions that protect important property like your car, your family home and your retirement savings. At Attorney Debt Reset, the vast majority of our clients keep everything they have while getting rid of all their debt.

Push the reset button on your debt today. Call Attorney Debt Reset at 877.273.7383 or simply complete our online contact form. Initial consultations with a lawyer are free and confidential.