The thought of bankruptcy can be scary, but if you need a fresh financial start, you want to be sure you go about it the right way. You may be holding off on speaking with a qualified bankruptcy attorney because of some commonly held myths.
Common Myth: You will lose your house or your car if you file bankruptcy.
Truth: Actually, bankruptcy can help you keep your house and your car. It can also stop a foreclosure, prevent a bank from repossessing vehicles and even get your car back if it has been repossessed.
Common Myth: You can’t file bankruptcy more than once.
Truth: You have options! If you find yourself in same position again, don’t despair. You can file again if you meet specific criteria. If you meet the criteria, you are eligible to file again. The best way to find out is to call us and let us look over your situation. We can give you the advice you need to make a great decision.
Common Myth: Filing bankruptcy will prevent you from buying a house or car again.
Truth: You will be able to buy a house and/or car again. In fact, your credit score is often better when you rebuild it after a bankruptcy than if you continue to be behind in payments over a period of years. Two years after filing bankruptcy, you can qualify for a normal home loan with competitive interest rates if you keep your credit clean and have the income to support the payments.
Common Myth: I don’t need a lawyer to file bankruptcy.
Truth: Technically, yes. However, it is almost impossible for a person without legal training to complete and file the necessary paperwork. One mistake can cost you your home or car. It can even result in the judge denying your bankruptcy.
Thinking about filing for bankruptcy? Speak with an attorney before making any changes to your financial situation. Most consultations are free and can save you thousands of dollars.
Need More Information?
At the Law Office of Daniela Romero, APLC, we believe in relationships that are based on trust. Before we work together, we would like to get to know you and we would like you to get to know us. We want you to be sure you are the right fit for us and that we are the perfect fit for you. This will allow you to be completely comfortable sharing intimate and difficult details of your case, so we can offer you representation to the fullest extent of the law. Call us today to set up a free consultation.