If you are overloaded with debt and can’t answer your phone because of collectors calling, then perhaps a bankruptcy case is a good option. Congress did not want our citizens to be overloaded with debt just because they’d made financial mistakes. As a result, Congress created the Bankruptcy System. It is designed to give good people a chance to re-set their financial lives.
It seems that there are many myths that are floating around concerning bankruptcy. Its no myth that as the economy worsens, the bankruptcy filings soar. Don’t believe the myths commonly asserted as truth. Experienced Bankruptcy Attorney Dan Scott says that there are 3 Myths about Bankruptcy that should be dispelled.
Dispel these 3 Myths by Discovering the Facts.
Myth No. 1: Filing Bankruptcy Can be Pricey. For less than you will spend on your credit card payments and other monthly payments, you can probably pay a bankruptcy lawyer and court costs. What’s it worth to you to no longer owe your debt? I’d say significantly more that the cost you’ll incur. Creditors tell you, “Just pay the money to me.” Don’t be deceived when they say that.
Myth 2: You may lose your property in a bankruptcy: Obviously if you have a car or house that has a lien or mortgage, you’ve got to address that lien or mortgage in your bankruptcy case. Usually a deal can be structured inside your bankruptcy case where you can keep making the payments and keep the property. Bankruptcy Attorney Dan Scott, in his video series found at http://www.danwillhelp.com, reveals that in most circumstances you will be able to use your exemptions to keep property that is not encumbered by a lien. Exemptions are simply a procedure established by Congress to allow you to keep property in a bankruptcy case. Don’t think for a minute that you’ll be able to keep property on which a lien has been granted unless you can make the payments.
Myth 3: Not all your debt can be discharged. Let’s get past this. If you owe money for student loans, claims arising from fraud, back child support, DUI fines or penalties or certain taxes, those debts will survive the bankruptcy. However, except for those debts almost all your other debts will be discharged. If you decide to file a chapter 13 case rather than a chapter 7 case For the difference between a Chapter 7 and a Chapter 13 check out the video at http://www.danwillhelp.com) you’ll pay payments over time that often clears all of your debt except your home mortgage. Just understand that even though a few debts will survive your bankruptcy case, most will be wiped away.
These are tough times. Every where you turn folks are facing financial challenges. You may want to take a look at the video series published by experienced bankruptcy lawyer Dan Scott at http://www.danwillhelp.com. There’s simply no need to avoid bankruptcy just because of uncertainty.
Don’t be intimidated by your creditors. Get the information you need to decide what your next step should be from an experience bankruptcy attorney. Check out the free video series today. You’ll like the way this makes you feel!