Did you hear that…?
* You won’t be able to get credit for at least 10 years if you file for bankruptcy (insolvency).
* You will lose all your property once you file for insolvency.
* You are unable to do anything with your taxes or student loan (if any) once you file an insolvency petition.
* Everyone will come to know that you have filed an insolvency petition.
* You can max-out you credit cards before filing for bankruptcy.
* You will not be able to apply for student loans and apartment leases once you file for insolvency.
* Counseling programs are better than filing for bankruptcy when it comes to your credits.
If all these things are stopping you from filing a bankruptcy petition, then you should immediately change this mindset. This is because all the facts mentioned in the ‘did you hear that?’ list given above are mere misconceptions about bankruptcy and nothing more. So, you should ignore all these things and start looking for a bankruptcy attorney as soon as possible.
Do you know that filing for bankruptcy can stop the following?
* Collection calls from your creditors
* Threatening letters from your creditors
Yes, the very moment your creditors come to know that you have filed for insolvency, they will stop calling you and threatening you over phone or via letters. Moreover, you will also able to stop foreclosures as well as repossessions.
There can be a number of reasons behind your inability to repay your debts:
* Unexpected expenditure
* Less-than-perfect financial planning
Irrespective of the reasons behind your inability to pay debts, filing for bankruptcy is the best solution available to you.
There are a number of Chapters of bankruptcy law:
* Chapter 7
* Chapter 11
* Chapter 12
* Chapter 13
Among the four Chapters given above, your lawyer will tell which one is suitable for you after evaluating your case. So, once you have made the decision to file for insolvency, you should not delay the proceedings and hire an experienced and reliable bankruptcy attorney (Conyers, GA is a place where you will find a number of lawyers in your city) as quickly as possible. However, you should be very careful before hiring a lawyer and consider the pointers mentioned below:
* You should hire an experienced lawyer.
* You should hire a reputable and highly qualified lawyer.
* You should hire a lawyer who is a member of a local chapter of the American Bar Association (ABA).