Myths About the Repercussions for Filing Bankruptcy
In today's economy there are many individuals who are facing difficult times; many families are suffering from low incomes and extensive bills and payments that need to be made. If you are facing a difficult financial situation, you are not alone; there are numerous other families and individuals who are facing the same struggles that you are. At Patriot Bankruptcy their law firm is intent on serving the financially burdened individuals of Boston, IL. They have been serving this area for many years and they have helped numerous individuals through the process of filing bankruptcy and have helped them to achieve financial peace through this.
There are many misconceptions and other myths about bankruptcy that fearful people have spread through their ignorance and lack of knowledge. A skillful representative from their firm will be able to discuss all of these issues in detail with you if you have further questions. Some of the more common myths about bankruptcy are that it is extremely difficult to file, those who file bankruptcy will lose everything that they own, and that anyone who has filed bankruptcy will never be able to receive credit again.
First, bankruptcy is not impossible to file. There are some cases that where filing bankruptcy is difficult but it is certainly not impossible. Much of the difficulty can be alleviated through the skillful and experienced assistance of a representative from their firm. If you believe that you could lose everything that you own if you file for bankruptcy then you are mistaken, this is a very popularly circulated lie. Through Chapter 7 bankruptcy, many of your assets will be exempt from liquidation, and in Chapter 13 bankruptcy you are restructuring your debt and your assets are not touched. Either way you will certainly not be left with nothing after the process.
One other very common myth about the repercussions of bankruptcy is that those who file will never be able to obtain credit again. This is completely untrue, in reality it is quite the opposite. Many of the client's assisted by this firm have received offers from credit card companies almost immediately after the process was complete. The major issue in obtaining credit is not that you filed bankruptcy, but that you do not repeat the mistakes that were made in the past that led to bankruptcy. Do not let fear of the unknown hinder you from making the right choice and doing what is best for you and your family.
There are many misconceptions and other myths about bankruptcy that fearful people have spread through their ignorance and lack of knowledge. A skillful representative from their firm will be able to discuss all of these issues in detail with you if you have further questions. Some of the more common myths about bankruptcy are that it is extremely difficult to file, those who file bankruptcy will lose everything that they own, and that anyone who has filed bankruptcy will never be able to receive credit again.
First, bankruptcy is not impossible to file. There are some cases that where filing bankruptcy is difficult but it is certainly not impossible. Much of the difficulty can be alleviated through the skillful and experienced assistance of a representative from their firm. If you believe that you could lose everything that you own if you file for bankruptcy then you are mistaken, this is a very popularly circulated lie. Through Chapter 7 bankruptcy, many of your assets will be exempt from liquidation, and in Chapter 13 bankruptcy you are restructuring your debt and your assets are not touched. Either way you will certainly not be left with nothing after the process.
One other very common myth about the repercussions of bankruptcy is that those who file will never be able to obtain credit again. This is completely untrue, in reality it is quite the opposite. Many of the client's assisted by this firm have received offers from credit card companies almost immediately after the process was complete. The major issue in obtaining credit is not that you filed bankruptcy, but that you do not repeat the mistakes that were made in the past that led to bankruptcy. Do not let fear of the unknown hinder you from making the right choice and doing what is best for you and your family.
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