Myths Surrounding Bankruptcy

By Bronson Law Offices   Nov. 26, 2010 6:35p

Feeling crushed by overwhelming debt is a terrifying experience. Being unsure of your financial future, especially when you have a family, will often make you very nervous about every choice you have to make regarding your finances. If you are facing crushing debt there are many options available to you that you may have unfounded misconceptions about, including bankruptcy.

There are many myths about bankruptcy that can cause understandable anxiety if you have ever considered bankruptcy as an option for your debt relief. Many of these myths are simply not true, which a Westchester County bankruptcy lawyer will be able to inform you about with expert legal understanding of the intricacies of bankruptcy laws. There are many myths about bankruptcy, some of these include:

  • Myth: Never being able to rebuild your credit.
    • While bankruptcy does appear on your credit report, it is not impossible to restore your credit to a respectable level. Secured credit cards and intelligent money management such as on-time payments can help to begin rebuilding your credit.
  • Myth: Only irresponsible people need to file for bankruptcy.
    • While this can often be the case, many people who have suffered unexpected injuries or illness, job loss or other situations can suddenly find themselves in a position requiring debt relief.
  • Myth: Everyone will know that you've filed for bankruptcy.
    • Unless you are a very prominent public figure, it is very unlikely that your bankruptcy filing will ever be heard of unless you explicitly tell someone about it yourself.

Bankruptcy Lawyer in White Plains

If you are in a situation where you are overwhelmed by debt but are unsure if bankruptcy is an alternative for you, it is highly advised that you contact a bankruptcy attorney as soon as possible to take a proactive approach to understanding your options. At the Bronson Law Offices we understand the possibilities regarding bankruptcy and will examine your case thoroughly, giving you guidance are your best available options.

Contact a White Plains Bankruptcy Attorney at our law offices today for dedicated and experienced help regarding your debt relief case.

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