Common Bankruptcy Myths
Hire a Hands-On Las Vegas Lawyer
At A Fresh Start Law, we know that the subject of bankruptcy can be confusing, especially with how many myths are out there. Many people are under the misconception that filing for bankruptcy is like "giving up" financially. However, more and more people are starting to file for Chapter 7 or Chapter 13 bankruptcy and learning that it's actually an opportunity for a new financial start. If you are thinking about whether filing for bankruptcy is right for you, we are here to help.
Give us a call at (702) 551-3256 to speak with a Las Vegas bankruptcy lawyer about your questions and concerns. Call now for a free consultation.
Dispelling Myths About Bankruptcy
With more than 35 years of experience, we understand that you may have a wide range of questions about filing for bankruptcy. You are a unique individual with a unique financial situation and, therefore, it is impossible to answer every question you have without speaking to you. When you are trying to decide what course of action you should take, consulting with a knowledgeable Las Vegas bankruptcy attorney is in your best interest.
A few of the most common bankruptcy myths include the following:
- Filing for bankruptcy will erase every debt you have
- Filing for bankruptcy ruins your credit
- You will lose your house if you file for bankruptcy
- Creditors will harass you if you file for bankruptcy
- You are only allowed to file for bankruptcy once
Start Rebuilding Your Credit After Bankruptcy
Many people have read common myths about bankruptcy, such as that it will destroy your credit forever. The truth of the matter is that filing for bankruptcy and having the debt removed from your record can actually give you the opportunity to rebuild your credit score. Additionally, you may become eligible for a variety of secure loans. When you choose not to file for bankruptcy and your debt keeps accumulating, you will likely not be eligible for any type of loans and your credit score will worsen. However, you should know that if you have less than $20,000 of debt, it is probably in your best interests to seek debt settlement rather than bankruptcy.
Would you like to make an appointment for a free consultation? Contact A Fresh Start Law today at (702) 551-3256.