For many, the mere idea of filing for bankruptcy can be a frightening or totally unthinkable option for dealing with their financial difficulties. The reason for this is that, over the years, due to ignorance and misinformation on the subject, bankruptcy has gained a terrible reputation. However, it is already the year 2020! It’s time to stop believing in unfounded myths and know bankruptcy for what it really is: a legal option to get rid of most of your debts and a chance for a fresh financial start.
Now, if you feel that you are drowning in debt and want to file for bankruptcy to rebuild your finances from scratch, the most efficient and effective way to do so is to work with a Huntington Beach bankruptcy lawyer who is willing to guide you every step of the way.
If you are looking for a committed bankruptcy attorney who knows how to advise you at all times, consider KT Bankruptcy Attorney as your first choice. The attorneys at this firm have years of experience helping hundreds of Californians become debt-free, and you could be the star of their next success story.
Bankruptcy Permanently Kills Your Credit
This is not true. Sure, it’s well known that once you file for bankruptcy this will show up on your credit report for about 10 years, but the truth is that you can start rebuilding your credit immediately after filing for bankruptcy.
In fact, it’s quite likely that some creditors will start offering you credit cards within weeks of your discharge. Therefore, with proper planning, you can rebuild your credit much faster than you might think.
Bankruptcy Discharges All Debt
Bankruptcy can help you get rid of MOST of your debts, but not all of them. For example, if you file for Chapter 7 bankruptcy, you will get rid of many of your unsecured debts, such as medical expenses, rent, credit card bills, etc. However, your secured debts won’t be erased in the process. Secured debts include child support, student loans, and some taxes.
Bankruptcy Filers Are Financially Irresponsible
While many would have you believe that those who declare bankruptcy are compulsive spenders and financially irresponsible people, this is not true, especially in 2020. Many reasons may lead you to opt for bankruptcy to get out of debt, such as having to pay for very high medical expenses, an expensive divorce, losing your job unexpectedly, or, in the case of business owners, being forced to close your business for reasons beyond your control. Therefore, bankruptcy should be considered an escape route for victims of an unhealthy economy.
You’ll Lose Everything in Bankruptcy
Don’t worry, filing for bankruptcy doesn’t mean you’ll have to live on the streets for the rest of your life. The truth is that most of your property, including your house, your clothes, and your car, will be exempt from the process.
You may have to sell some of your things during the process, but at the end of the day, you will keep the things that are most important to you.
You Can Only File for Bankruptcy Once
No one wants to be in this position more than once, but that’s no reason to worry. If at another time in your life you need to file for bankruptcy again, you can do so without any problem.
However, to file for bankruptcy a second (or even third) time, you must meet certain criteria. The best thing to do is to consult with a Huntington Beach bankruptcy lawyer to see if you qualify to file for bankruptcy again.
I Don’t Need a Lawyer to File for Bankruptcy
Certainly, in theory, you can file for bankruptcy without the help of an attorney, but that doesn’t mean it’s a good idea. The bankruptcy process can be more complicated than it seems, and any misstep can cause you to lose a lot of time, or put your most precious assets at risk.
Don’t take unnecessary risks, working with a Huntington Beach bankruptcy lawyer can make the whole process a breeze.
If you have any questions, KT Bankruptcy Lawyer offers completely free consultations where they will answer all the questions you have regarding bankruptcy. Contact KT Bankruptcy Lawyer to get started on your path to a fresh financial start.
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