Myths & Facts About Filing Bankruptcy

Bankrutpcy Myths

Myth: Individuals who file bankruptcy can't get approved for credit after they file bankruptcy.
Fact: Many individuals who file for bankruptcy are able to get approved for credit in a relatively short amount of time. And in most cases filing bankruptcy can improve your credit rating.

Myth: Some people think their personal property will be seized if they file bankruptcy.
Fact: Few people who file bankruptcy have any assets that are qualified to lose. In most cases debtors will get to keep their personal property including their car and home.

Myth: The 2005 Bankruptcy Law change makes it harder to file bankruptcy.
Fact: Most people still can qualify for bankruptcy under the new law. Speak with an experienced bankruptcy lawyer today.

Myth: If you file bankruptcy your a bad person.
Fact: Abraham Lincoln, Walt Disney, and Ulysses S. Grant all declared bankruptcy. Don't be ashamed if you have to file bankruptcy. The federal government designed bankruptcy so individuals can get a fresh start if their deep in debt.