Can I lose my home?
Bankruptcy Myths – Information on Bankruptcy
There are many misconceptions surrounding bankruptcy that may stop some from even looking at their bankruptcy options and thus never get the debt relief they so badly need. They wrongly believe that should I file bankruptcy the following myths are true:
Myth 1: I will lose my home, car, and other valuable assets.
Fact: During a Chapter 7 bankruptcy, most (or all) a debtor’s assets are not sold with the proceeds going towards repaying their debts. The truth is that their home, cars, and other valuables are almost always exempt (you keep it) from liquidation, so it’s very likely you will keep most or all your assets in a bankruptcy.
Myth 2: I will never be able to buy a home or car again
Fact: Many people are able to obtain a new mortgage after two years or a new car loan within months–after filing for bankruptcy. Houston Bankruptcy Attorney O. Miller White would be more than happy to meet with you for a free consultation to discuss the various ways you can rebuild your credit after bankruptcy.
Myth 3:I can’t afford the bankruptcy fees to file bankruptcy.
Fact: This is simply not true. In many cases the total bankruptcy fees are less than your monthly credit card payments which stop after you retain the Houston bankruptcy lawyer.
Myth #4: I will get fired from my job.
Fact: Your boss cannot fire you for filing legal bankruptcy. In fact, your boss will not even be notified that you have filed for bankruptcy and it is very likely they will never know unless you chose to tell them.
Myth #5: Only losers and deadbeats file for bankruptcy.
Fact: This is absolutely false. There are many good, hardworking people who file for bankruptcy simply because they have encountered unfortunate circumstances they did nothing to cause. Maybe they lost their job, they have gone through a divorce, or they have a serious illness in their family. They could need a small business bankruptcy. There are countless reasons why an otherwise hardworking individual may fall upon hard times financially and badly need and deserve a fresh start.
Contact Houston Bankruptcy Lawyer O. Miller White Today!
If want to know your bankruptcy options, but still have some concerns,the Houston Bankruptcy Lawyer O. Miller White can address your concerns and provide you with the answers, information, and clarification you need to make the best decision for you. We can also help you if you live in League City,Galveston and Deer Park, Texas.