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Bankruptcy Myths

Calabasas Bankruptcy Lawyer

Here are some of the top myths your creditors want you to believe... and the reason why every one of them is NOT TRUE.

Myth 1: Under the NEW bankruptcy law, there's no more bankruptcy and no more help (or, it's too late to file).

Not true. In fact... nothing could be further from the truth.

The truth is that you can do almost everything under the NEW law that you could do under the OLD law. In some ways, the new law actually increased the benefits of filing bankruptcy. In fact, bankruptcy filings are UP 35% in the last 12 months and are projected to exceed 1.2 million new filings by years end.

Myth 2: Everyone will know you have filed for bankruptcy.

This is a lie that is spread by creditor agencies and the media to keep the number of bankruptcy filings down. Unless you are a very prominent or publicized person, there is a high chance that the only people who will know about your bankruptcy filing are the creditors and the people you choose to tell.

Myth 3: You will lose everything you have.

The truth of the matter is, most people who file for bankruptcy don't lose anything. While the laws vary from state to state depending on the type of bankruptcy you choose, there are always exemptions that will apply. For example, you may be able to keep your house, your car, household goods, furnishings, clothing, wages, and other items after your bankruptcy.

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Helpful Guidance from a Calabasas Bankruptcy Attorney

When you have a question about bankruptcy and you want reliable help, turn to the skilled team at the Law Office of Joseph A. Mannis. A Calabasas bankruptcy lawyer from our firm can answer your questions about Chapter 7, Chapter 13 or other forms of debt relief so that you can make the best financial decision for your future.

Contact a Calabasas bankruptcy attorney today to schedule your free initial consultation with a caring professional! We have clients in Thousand Oaks, Agoura Hills, Westlake Village, Moorpark, Woodland Hills and Simi Valley.

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