Common Bankruptcy Myths

Our McDonough Bankruptcy Attorneys Provide Insight

Filing for bankruptcy can be a stressful process, but with our friendly and knowledgeable services, you can get the help you need. Many people believe certain myths about bankruptcy, but we are here to provide the facts so that you can make the best decision to benefit you and your loved ones. If you are facing a debt crisis and need a way out, bankruptcy can be a quick and effective course of action that can work for your advantage.

Vansaghi & Associates, LLC provides quality legal services for all your bankruptcy needs. Whether you need to file for Chapter 7 or 13 bankruptcy, we can walk you through the process and answer your questions along the way.

Contact us today at (770) 629-8065‚Äč to learn more about how we can help your situation.

Debunking Myths About the Bankruptcy Process

Unfortunately, many people believe these myths and choose not to file bankruptcy when it could bring them relief from their debts and long-term benefits.

Common myths about bankruptcy:

  • Filing for bankruptcy can permanently destroy your credit.
    In many situations, your credit can actually improve by getting a bankruptcy because it eliminates the unpaid debts that have piled up and allows you to access small lines of new secured credit to start fresh.
  • Bankruptcy means you are financially irresponsible and represents failure.
    As for financial irresponsibility, many people find themselves in circumstances outside of their control that force them into tight financial situations, like suffering a serious illness or other health crisis, getting a divorce, or losing a job.
  • Creditors can continue to harass you after you file for bankruptcy.
    After you file for bankruptcy, creditors are not allowed to continue contacting you, so you don't need to worry about harassment after your case has closed.
  • It is too late to file for bankruptcy after you have been sued by a creditor.
    If your creditor has sued you, filing for bankruptcy puts an "automatic stay" info effect that immediately stops a lawsuit, impending foreclosure, garnishment or repossession. This "automatic stay" is a very powerful legal provision that acts quickly so you can get more time to think about your options.

Our McDonough bankruptcy attorneys help many people tackle their debt crisis and other financial issues through filing for bankruptcy. With our knowledge of the legal system, we can give you the assistance you need. We handle each case with care and take your specific situation into consideration so you get the best representation available.

Start with a free case evaluation for experienced legal services in dealing with bankruptcy.

Contact Vansaghi & Associates, LLC

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