Glendale AZ Bankruptcy Lawyer Firm: Bankruptcy Myths and Information
There are a lot of misconceptions about bankruptcy. By knowing the facts, it can help you make a better decision about whether bankruptcy is right for you.
- In bankruptcy, you lose all your assets. No. In fact, you will be able to keep most of your assets unless they are worth a lot of money. You can keep clothes, furniture, a house and car up to certain limits.
- Someone will come to my house and go through all my things. No. You will do an inventory of your own assets.
- I can’t discharge any taxes in a bankruptcy. In certain circumstances, you can. Talk to a Glendale AZ bankruptcy lawyer to find out if you qualify.
- A bankruptcy will ruin my credit for 7 years. No, it will be on your credit report for 10 years, but it will not, in itself, prohibit you from getting credit. If you qualify for bankruptcy, your credit score has probably already suffered. Bankruptcy is taking a positive step toward curing that problem.
- I won’t be able to buy a car. Yes, in most cases you will. We have had clients who, in the first week after filing for bankruptcy, have gotten multiple offers from car dealers asking them to come in and buy a car.
- I will lose my job. No. An employer cannot fire you for filing bankruptcy.
- I cannot apply for a job. No one will hire me. A private employer can turn you down because of bankruptcy. (Many routinely check credit reports and turn down applicants for bad credit.) A state or federal government employer cannot turn you down for that reason.
Whatever you may have heard about bankruptcy, know the facts.
Ask experienced Glendale AZ bankruptcy lawyers for information.
At Rosenstein Law Group, we want you to have the best information available so that you can make decisions about how to deal with financial difficulties. Contact us for a free consultation AZ bankruptcy attorney.
