Debunking Some of the Most Common Myths in Modesto, CA
A myth is an ancient story, tradition, or anything that is collectively believed by a group of people but does not necessarily hold true. Bankruptcy myths are no different. They are myths that people believe and base their bankruptcy filing or financial decisions around without fully understanding the consequences.
These myths range far and wide, from the belief that you will not be able to recover from bankruptcy if you file to the myth that bankruptcy will drive you into homelessness. What is important to remember is that these are simply myths. These half-truths or falsehoods may lead to questionable answers, which should be investigated before believing them. With the assistance of our dedicated bankruptcy team, you can debunk these myths and work toward a financially sound, debt-free future.
It is important that, if you file for bankruptcy, you understand the following truths:
- You may not necessarily lose your home
- You do not have to have a minimum amount of debt to file for bankruptcy
- Not all debts (such as child support and student loans) will be discharged in bankruptcy
- You can file even if you have a job
- Your credit will recover and you may be able to receive credit in less than ten years
- Even if your spouse files, you do not necessarily have to file as well
- Bankruptcy can be confidential and not everyone will need to know that you have filed
Bankruptcy is not normally seen in a good light, and myths can be told from one person to another to scare them away from filing. If you have questions about your situation, you are encouraged to read through our frequently asked questions section or contact our team to learn more.
Have a question? Contact our Modesto bankruptcy lawyer!
Do you have a question about bankruptcy? Are you having a hard time separating facts from myths? You can turn to Scott Mitchell Law Incorporated. Our team will work hard to help you sort through your situation to educate you about your options and find the true answer to your debt problem. Contact our legal team today and take advantage of our free case evaluations and competitive pricing.