Common Bankruptcy Myths Debunked
Counsel from an Oklahoma City Bankruptcy Lawyer – (405) 294-4330
Many individuals hesitate to file for bankruptcy out of fears borne out
of misinformation, especially when there is so much conflicting information
to be found online. Well-meaning friends and family members can throw
in their two cents, which can lead to more confusion and indecision. At
Alexander Hilton & Associates, we wish to be a reliable source of
information for all our clients. To better serve the needs of our clients, our
Oklahoma bankruptcy lawyer has debunked some common bankruptcy myths below for your benefit.
free, confidential consultations.
Schedule yours today by calling (405) 294-4330.
Myth 1: I will lose my home or car if I file for bankruptcy.
This is not always the case. Several items are exempt when filing for
Chapter 7 bankruptcy or
Chapter 13 bankruptcy. Homes, vehicles, furniture, and wages are just some of the items that
can be considered exempt. Learn more from our helpful blogs:
Myth 2: I can file for bankruptcy on my own, without a lawyer.
Filing for bankruptcy on your own is highly discouraged. Doing so increases
the chances that your petition will be denied or delayed. Hiring legal
representation can help you avoid making a misstep. Our Oklahoma City
bankruptcy lawyer can explain
the Do's & Don'ts of bankruptcy.
Myth 3: I will be stuck with bad credit for the rest of my life.
By the time most individuals reach the need to
file for bankruptcy, their credit score is already bad. Filing for bankruptcy affords them
the chance to start over so they can begin
rebuilding their credit score and regaining their financial health.
Myth 4: I will lose my personal assets and retirement savings.
In certain instances, bankruptcy allows you to keep 100% of your qualified
retirement savings, including a 401K. Cases vary, which is why it is best
to seek the guidance of a skilled Oklahoma bankruptcy attorney.
Need more information about filing for bankruptcy?
Take a look at our
Frequently Asked Questions page.
Insight Backed by 20+ Years' Practicing Bankruptcy Law
Since 1990, our bankruptcy firm has guided hundreds of individuals towards
the path of a debt-free life. We have the resources and legal insight
to help you file for bankruptcy as quickly and effectively as possible.
Alexander Hilton & Associates can get you through this financial challenge
so you can move on to the next chapter of your life.
If you are considering bankruptcy, we encourage you to
give our Oklahoma City bankruptcy firm a call
at your earliest convenience.