The first thing that you need to know is that Bankruptcy was put in place to help you through a financial crisis. Taking this step is showing that you are responsible and care about doing whatever you can to do the right thing. So, pat yourself on the back for getting yourself here. Breaking common bankruptcy misconceptions and asking for the rightful assistance that is available to everyone can get you through these hard times.
The Difference Between a Proper Attorney and a Bankruptcy Petitioner is a Big Difference
Some people hire bankruptcy petitioner’s to help them with their filing but it doesn’t make any sense because a petitioner can not give legal advice at all. They can’t tell you which forms to use or what to file. They can not give legal advice on anything. If you are worried about costs, any attorney is going to give you the proper guidelines on payment methods. They will set up a plan of action for payment. They already know you are in a financial quandary and will work with you. A petitioner is going to charge you up front and then not provide you with what you need.
Be AWARE of Bankruptcy Mills or ‘scams’ that advertise filing bankruptcy for only $299
There is nothing wrong with shopping and comparing who will help you file your bankruptcy. There are huge impersonal law companies that know that emotions are high when making a decision on where you will get help. A big mistake commonly made is when a person who is already in financial instability jumps to a conglomerate because they simply advertised a low fee. The low fee is usually just to get you in the door. These types usually do not tell you that you have to also pay your own filing fees, pay for credit counseling courses, pay for checking your own credit and buy copies of your own paperwork. They definitely do not tell you that you have to pay for your appearance in court. This is why it is important to hire an attorney that can make this very easy for you without any “surprises.”
Marty Martin Law does not have any extra surprises. They will only get you back to the life that you want to lead which is financial freedom.
4 Common Bankruptcy Misconceptions
1.) You will lose your home if filing bankruptcy. There is not a huge chance that this will happen at all. You will build a new way to pay for your housing the same way that you will pay off the creditors.
Everybody works together in the process to make it easier for you because you came forward and asked for assistance. It’s the law.
2.) You could be fired or not get hired if you file bankruptcy. Absolutely NOT! Federal legislation protects you from getting fired or getting hired. It is completely unethical for an employer to judge to use this action against you. Potential employment can look at your financial history but discrimination is not tolerable.
3.) Bankruptcy eliminates all debt. Although credit cards and some loans may not require further action. The Government still gets paid. If owned, student loans and any back taxes must be paid. Sometimes, with the help of your attorney, you will get assistance to pay these items or have access to a caveat. There are forgiveness loans and all sorts of programs to help.
4.) Bankruptcy ruins your credit forever. You can rebuild your credit at any time. It might take some time to get a loan to buy a house or a car but it can be done.
No matter what happens, after you file bankruptcy you will become an expert on how to manage your finances. You will learn from the experience and then use that information to stay informed.
Remember, All creditors or people that you owe money to have a financial adviser option that is free to use. They HAVE to work with you and will if you are willing to work with them. Your attorney can give you more advice on financial advising and give you every chance to get all of your money options clear.
Need help? Call us at (405) 255-2380.