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Bankruptcy Myths

Yes, it is uncomfortable and awkward to admit you’ve made some errors in your management of money, but a Chapter 13 attorney is not there to judge you, they are there to help you get organized and set your finances straight. for any legal advise Contact a salt lake city bankruptcy lawyer Justin M. Myers today at law firm Justin M. Myers - Attorney at Law, LLC.<br>

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Bankruptcy Myths

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  1. Bankruptcy Myths Although myths are quite popular, they are not necessarily real. There are many bankruptcy myths out there, which we are about to expose. Life after bankruptcy is as normal as it could get. Money may not fall from the sky but this is a lesson you already learned a long time ago. Use your binoculars because you will take a closer look at how life after bankruptcy looks like.

  2. Your Credit into Pieces Totally false. Although it’s true the bankruptcy will show on your credit report for a decade, you can still rebuild your credit. If you have a low credit score, you’ll find opportunities to rebuild it. Some people with a low score may see their score improve significantly after the bankruptcy was filed. This is especially true for debtors who pay their bills consistently.

  3. Losing all your Property Although it may sound quite dramatic and attractive for a soap opera, it’s very far from the truth. When filing for bankruptcy, your property becomes part of your estate that someone will oversee. All these assets will not be liquidated. Non-exempt property is generally sold under chapter 7, the rest of the property you can keep.

  4. You will feel Guilty When You Apply for Bankruptcy Why should someone feel guilty when all they are trying to do is finding a solution for their problems? There is no shame in handling your finances with a realistic point of view. These laws are there to allow you a fresh start. Even president Jefferson filled several bankruptcies with way more debt than any of their clients.

  5. Need to be Delinquent on your Payments in Order to Qualify This is not a requirement to file for bankruptcy. Some debtors find themselves in a situation where they know they won’t be able to pay all their debts with their expected income. This is a great way to avoid credit collection harassment. A Salt Lake City bankruptcy attorney will never force you to make these important decisions. During your first appointment you will discuss your current circumstances and the attorney will offer insightful advice.

  6. Pros and Cons of Chapter 13 Bankruptcy Thousands of people file for bankruptcies every year. There are many reasons why. Yes, it is uncomfortable and awkward to admit you’ve made some errors in your management of money, but a Chapter 13 attorney is not there to judge you, they are there to help you get organized and set your finances straight. It is nothing to be embarrassed about. Make sure you find an attorney who will make the process as seamless as possible.

  7. Bankruptcy is a Great Opportunity to Handle your Debts There comes a time in life when you have to take a big step. Bankruptcy is a great opportunity to handle your debts in a more productive way. Contact salt lake city bankruptcy lawyerJustin M. Myers today at law firm Justin M. Myers - Attorney at Law, LLC and ask about the types of bankruptcies for a fresh start.

  8. Justin M. Myers - Attorney at Law, LLC 1122 W. South Jordan Pkwy. Suite A South Jordan, UT 84095 Phone: 801-505-9679 Website: https://www.jmmlegal.com/contact/

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