Common Bankruptcy Myths
Contact an Atlanta Bankruptcy Lawyer Today
Before you decide to file for
bankruptcy or hire a lawyer, you may decide to research legal advice. Unfortunately
there are many bankruptcy myths that you will come across. It is important
to understand the most common misconceptions regarding bankruptcy so that
they do not affect your decisions or impact your ability to process accurate
information. When it is not painted in a distasteful light, bankruptcy
can provide relief from financial turmoil.
At Khoshnood Law Firm, P.C., our Atlanta bankruptcy attorneys are committed
to ensuring that you are on the right track and can help you sort myths
We want you to see bankruptcy in an accurate light, which is that it can
be a useful tool for individuals and businesses in specific financial
A few common bankruptcy myths that our clients hear before coming to us include:
- Only irresponsible people file for bankruptcy: Actually, all different
types of people file for bankruptcy and there are a number of reasons
why, including economical problems, business failure, illness, and divorce.
- I won't be able to get any credit for 10 years: As soon as your case
is discharged, you will be able to work on rebuilding your credit. Bankruptcy
stays on your credit, but you can still begin the process of building
- If you file for bankruptcy, you will lose everything you own: If you file
for bankruptcy with the help of a competent lawyer, you may be able to
keep some of your assets. When you do not file for bankruptcy, you may
- With the new laws, bankruptcy is useless: The "new bankruptcy law"
was passed in 2005 and did in fact change many aspects of bankruptcy law,
however much is still the same and these changes do not affect everyone.
- Everyone will know that I filed for bankruptcy: It is not easy to find
out that you have filed for bankruptcy. Although it is part of public
records, someone would have to hire an expert or gain access to the bankruptcy
If you would like to speak with an Atlanta bankruptcy attorney from our
team in a free case consultation,
please give us a call at