Millions of people are finding themselves overwhelmed by mounting debts in today’s economy. This can be overwhelmingly stressful, and at times you may feel like there is no solution. Despite the myths you may have heard, bankruptcy may be the most practical way to solve your crushing financial problems. To get bankruptcy help, call an experienced attorney to get valuable legal and finacial advice, dispell the many myths around bankruptcy and find out if it is a good solution for you.
Common Myths about Bankruptcy in California
Filing for bankruptcy is not as stressful or life-shattering as others may have led you to believe. Most of the negative opinions about bankruptcy are simple misconceptions. In order to correct these misconceptions, we have listed some common myths about bankruptcy that everyone should know:
Everyone will know about it
While bankruptcy is a public legal proceeding, there are thousands upon thousands of bankruptcies declared each year. The news media is only likely to care about your particular filing if you are a prominent business or celebrity. It’s much more likely that the only people who will know about your bankruptcy are the people who you tell. With the exception of your creditors and your bankruptcy attorney, your bankruptcy can remain your personal information.
You will lose everything
This is not true, and unfortunately, it prevents many people from entering into bankruptcy protection. Bankruptcy protection laws are structured to protect certain material assets. For instance, under bankruptcy protection the bankruptcy laws can enable you to protect values you have in your home, your car and other personal and work possessions. Most people who enter into bankruptcy protection may keep all their possessions. As for your mortgage or car loan, you may be able to restructure these payments over a longer period of time. By contacting a professional bankruptcy attorney in San Francisco, you’ll have personal guidance on how to keep your important possessions.
It is extremely difficult to file for bankruptcy
Although you do not need an attorney to file for bankruptcy, it may be better to get professional bankruptcy help to handle the proceedings. With an experienced bankruptcy attorney representing you, you can avoid many of the common bankruptcy mistakes non-represented debtors make. It can be confusing and sometimes frustrating to go through the bankruptcy process without an experienced San Francisco bankruptcy attorney on your side.
Bankruptcy is for failures
Most people who file for bankruptcy have gone through a life-changing experience, such as a divorce, a serious illness, or a sudden loss of their job. Bankruptcy can affect hard-working people of all ages, income levels and educational backgrounds. Getting bankruptcy help in San Francisco does not make you a failure. It simply means that you need to make a fresh start in your life.
Get Advice from a Bankruptcy Attorney
If your debts have spiraled out of control to the point where you believe your only option is to declare bankruptcy, speak to a bankruptcy attorney about your options before jumping into any life-altering financial decisions.
