Bankruptcy myths abound and can be harmful to people considering their debt relief options. If you are struggling with debt in Mesa, you need accurate, up-to-date information about what bankruptcy can and cannot do for you.
At Arizona Law Group of Trezza & Associates, we have extensive experience handling bankruptcy cases for clients from Mesa and throughout the surrounding communities. We want to dispel bankruptcy myths so you can make sound, informed decisions about your financial future.
Contact us today to speak with an experienced Mesa bankruptcy lawyer.
Common Bankruptcy Myths
There is a lot of bad information on the Web and elsewhere about bankruptcy law. Here are some of the prevailing bankruptcy myths:
- Myth: Bankruptcy will ruin your credit forever.
- Fact: If you need to file for bankruptcy, your credit is probably already poor. Bankruptcy can actually be the first step to restoring a healthy credit rating.
- Myth: When you file for Chapter 7 bankruptcy, the trustee will seize all your property and sell it to your creditors.
- Fact: Most people who file for Chapter 7 have only exempt assets, meaning they lose no property.
- Myth: Bankruptcy is for immoral or lazy people.
- Fact: The overwhelming majority of bankruptcies are due to an unexpected financial loss such as unemployment or a medical crisis. Filing for bankruptcy is a personal financial decision, nothing more.
- Myth: Recent laws have made it impossible for most people to qualify for bankruptcy.
- Fact: Most people who have severe enough debt problems to consider filing for bankruptcy still qualify, if not for a Chapter 7 bankruptcy, then a Chapter 13.
For more information, we have provided a bankruptcy FAQs section for you to review.
Contact Us to Learn More About Arizona Bankruptcy Myths
Every case is different, so it is important to discuss your situation with a knowledgeable Mesa bankruptcy attorney before making a decision. Contact us to discuss your options. We represent clients from Mesa, Tempe, Tucson and throughout the surrounding region.
