Bankruptcy Myths

Due to certain changes that were made in the bankruptcy code, a lot of myths about bankruptcy protection have arisen. Do not be misguided by improper information. You should consult a bankruptcy lawyer in order to receive the accurate information you need to make an informed decision. Due to the current economic recession, many people have lost their jobs and are searching for ways to manage their debt. There are certain options that you have to obtain a fresh start and a new life, debt free.

The most common bankruptcy myths are as follows:

• You can’t possess anything in the future.
• You will lose all your personal possessions.
• Your credit rating will be damaged forever. You can’t be qualified for another car loan, home loan, or credit card.
• Filing for bankruptcy is a very complicated process that needs a great deal of details.
• A person must have a minimum debt to qualify for bankruptcy protection.
• Even if you file for bankruptcy, you will still undergo creditor harassment and collection abuse.
• During bankruptcy back taxes cannot be repaid or discharged.

Do not be misguided and misinformed by the myths that are out there for bankruptcy. Our bankruptcy lawyers will be able to evaluate your financial circumstances and find the best options for your financial situation. We have been handling different debt reorganization and bankruptcy matters for many years and hundreds of clients. Our NJ bankruptcy lawyers will help you to achieve your financial goals and get you a fresh financial start.