SlideShare a Scribd company logo
1 of 4
MOST COMMON MYTHS ABOUT BANKRUPTCY
Bankruptcy is a complicated process and many people have misconceptions
about it. Due to which people hold themselves back from filling bankruptcy. But
in reality bankruptcy is the best debt relief option.You just need to put little a bit
of extra effort so that you can understand the process of bankruptcy and take
the benefits. Here we will discuss the most common myths and try to
understand the facts of bankruptcy as outlined by Brian Linnekens which will
underline the statement that bankruptcy is not such a tough process.
It is a difficult process
In bankruptcy there are many rules due to which it seems a difficult process. But
according to Brian Linnekens with the help of proper assistance from an
experienced attorney you can take the benefits of bankruptcy.The attorney you
hire to file for bankruptcy has all the rules in the back of his mind and in the
various books that he is going to consult over a period of time which of course
will make it a cake walk for you provided you follow every advice in letter and
spirit offered by your bankruptcy attorney.
Filing for bankruptcy will show that you are a bad person
Many people have an assumption that if you are filing for bankruptcy you will be
shown in bad light to the world. But the fact is that by fling you are using your
constitutional rights so that you can regain control over your finances.
It’s not only you who are facing financial crisis, lot of people around you going
through the same situation and the reason can be any – medical emergencies, loss
in business and downturns in economy due to which they cannot pay their debts on
time. And under such circumstances if you are filing for bankruptcy you are securing
yourself as well as your family members.
After filing for bankruptcy you will never won anything
This is the most common myth about bankruptcy, but this is completely wrong. In
actual this will give everyone an opportunity for a fresh start, you can own all new
properties like you have owned before filing. For that you need to receive your
discharge in bankruptcy.
Your family will be in trouble if you are filing for the bankruptcy
Many people believe that if they are filing for bankruptcy there will be a problem in
the family and the family members will have to face the situation of separation or
divorce.
We know every family is different but the fact is completely opposite of it, once you
decide to file for bankruptcy you can handle your family in a better way. Since by filing
you have taken some action so that you can regain control over your finance.
Creditor will still harass you and your families even after you file for bankruptcy
After filing for the bankruptcy court orders an automatic stay so that creditors will not
contact you in any way. With this stay in place creditors are not allowed to call and text
you. If in any condition the creditors violate the court orders then he/ she will be
penalized but there are rare chances of them to do so.
Your credits will ruin for 10 years
These are two different concepts which make the confusion.This is a fact that after
filing for bankruptcy it will be visible on your credit report for 10 years, but the credit
will not be damaged for the same time period. Mostly before filing for bankruptcy you
damage all your credit as you are not able to pay your bills or debts on time. And after
filing you start paying bills on times and slowly start rebuilding the credit. By doing this
you can rebuild your credits within two to five years. And you come out clean from
your bankruptcy there are chances that financial institutions will use their
discretionary powers and provide you credit for the time you are looking for.
Article Resource - http://www.brianlinnekens.net/most-common-myths-about-
bankruptcy/

More Related Content

Recently uploaded

Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...Call Girls in Nagpur High Profile
 
Independent Call Girl Number in Kurla Mumbai📲 Pooja Nehwal 9892124323 💞 Full ...
Independent Call Girl Number in Kurla Mumbai📲 Pooja Nehwal 9892124323 💞 Full ...Independent Call Girl Number in Kurla Mumbai📲 Pooja Nehwal 9892124323 💞 Full ...
Independent Call Girl Number in Kurla Mumbai📲 Pooja Nehwal 9892124323 💞 Full ...Pooja Nehwal
 
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur EscortsCall Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escortsranjana rawat
 
03_Emmanuel Ndiaye_Degroof Petercam.pptx
03_Emmanuel Ndiaye_Degroof Petercam.pptx03_Emmanuel Ndiaye_Degroof Petercam.pptx
03_Emmanuel Ndiaye_Degroof Petercam.pptxFinTech Belgium
 
00_Main ppt_MeetupDORA&CyberSecurity.pptx
00_Main ppt_MeetupDORA&CyberSecurity.pptx00_Main ppt_MeetupDORA&CyberSecurity.pptx
00_Main ppt_MeetupDORA&CyberSecurity.pptxFinTech Belgium
 
The Economic History of the U.S. Lecture 26.pdf
The Economic History of the U.S. Lecture 26.pdfThe Economic History of the U.S. Lecture 26.pdf
The Economic History of the U.S. Lecture 26.pdfGale Pooley
 
CALL ON ➥8923113531 🔝Call Girls Gomti Nagar Lucknow best sexual service
CALL ON ➥8923113531 🔝Call Girls Gomti Nagar Lucknow best sexual serviceCALL ON ➥8923113531 🔝Call Girls Gomti Nagar Lucknow best sexual service
CALL ON ➥8923113531 🔝Call Girls Gomti Nagar Lucknow best sexual serviceanilsa9823
 
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptxFinTech Belgium
 
High Class Call Girls Nagpur Grishma Call 7001035870 Meet With Nagpur Escorts
High Class Call Girls Nagpur Grishma Call 7001035870 Meet With Nagpur EscortsHigh Class Call Girls Nagpur Grishma Call 7001035870 Meet With Nagpur Escorts
High Class Call Girls Nagpur Grishma Call 7001035870 Meet With Nagpur Escortsranjana rawat
 
Basic concepts related to Financial modelling
Basic concepts related to Financial modellingBasic concepts related to Financial modelling
Basic concepts related to Financial modellingbaijup5
 
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...dipikadinghjn ( Why You Choose Us? ) Escorts
 
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...dipikadinghjn ( Why You Choose Us? ) Escorts
 
The Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdfThe Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdfGale Pooley
 
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...ranjana rawat
 
TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...
TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...
TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...ssifa0344
 
The Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdfThe Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdfGale Pooley
 
WhatsApp 📞 Call : 9892124323 ✅Call Girls In Chembur ( Mumbai ) secure service
WhatsApp 📞 Call : 9892124323  ✅Call Girls In Chembur ( Mumbai ) secure serviceWhatsApp 📞 Call : 9892124323  ✅Call Girls In Chembur ( Mumbai ) secure service
WhatsApp 📞 Call : 9892124323 ✅Call Girls In Chembur ( Mumbai ) secure servicePooja Nehwal
 
Dharavi Russian callg Girls, { 09892124323 } || Call Girl In Mumbai ...
Dharavi Russian callg Girls, { 09892124323 } || Call Girl In Mumbai ...Dharavi Russian callg Girls, { 09892124323 } || Call Girl In Mumbai ...
Dharavi Russian callg Girls, { 09892124323 } || Call Girl In Mumbai ...Pooja Nehwal
 
Top Rated Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...
Top Rated  Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...Top Rated  Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...
Top Rated Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...Call Girls in Nagpur High Profile
 

Recently uploaded (20)

Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...
 
Independent Call Girl Number in Kurla Mumbai📲 Pooja Nehwal 9892124323 💞 Full ...
Independent Call Girl Number in Kurla Mumbai📲 Pooja Nehwal 9892124323 💞 Full ...Independent Call Girl Number in Kurla Mumbai📲 Pooja Nehwal 9892124323 💞 Full ...
Independent Call Girl Number in Kurla Mumbai📲 Pooja Nehwal 9892124323 💞 Full ...
 
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur EscortsCall Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
 
03_Emmanuel Ndiaye_Degroof Petercam.pptx
03_Emmanuel Ndiaye_Degroof Petercam.pptx03_Emmanuel Ndiaye_Degroof Petercam.pptx
03_Emmanuel Ndiaye_Degroof Petercam.pptx
 
00_Main ppt_MeetupDORA&CyberSecurity.pptx
00_Main ppt_MeetupDORA&CyberSecurity.pptx00_Main ppt_MeetupDORA&CyberSecurity.pptx
00_Main ppt_MeetupDORA&CyberSecurity.pptx
 
The Economic History of the U.S. Lecture 26.pdf
The Economic History of the U.S. Lecture 26.pdfThe Economic History of the U.S. Lecture 26.pdf
The Economic History of the U.S. Lecture 26.pdf
 
CALL ON ➥8923113531 🔝Call Girls Gomti Nagar Lucknow best sexual service
CALL ON ➥8923113531 🔝Call Girls Gomti Nagar Lucknow best sexual serviceCALL ON ➥8923113531 🔝Call Girls Gomti Nagar Lucknow best sexual service
CALL ON ➥8923113531 🔝Call Girls Gomti Nagar Lucknow best sexual service
 
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx
02_Fabio Colombo_Accenture_MeetupDora&Cybersecurity.pptx
 
High Class Call Girls Nagpur Grishma Call 7001035870 Meet With Nagpur Escorts
High Class Call Girls Nagpur Grishma Call 7001035870 Meet With Nagpur EscortsHigh Class Call Girls Nagpur Grishma Call 7001035870 Meet With Nagpur Escorts
High Class Call Girls Nagpur Grishma Call 7001035870 Meet With Nagpur Escorts
 
Basic concepts related to Financial modelling
Basic concepts related to Financial modellingBasic concepts related to Financial modelling
Basic concepts related to Financial modelling
 
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
VIP Call Girl in Mira Road 💧 9920725232 ( Call Me ) Get A New Crush Everyday ...
 
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...
VIP Call Girl Service Andheri West ⚡ 9920725232 What It Takes To Be The Best ...
 
The Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdfThe Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdf
 
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
 
TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...
TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...
TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...
 
(INDIRA) Call Girl Mumbai Call Now 8250077686 Mumbai Escorts 24x7
(INDIRA) Call Girl Mumbai Call Now 8250077686 Mumbai Escorts 24x7(INDIRA) Call Girl Mumbai Call Now 8250077686 Mumbai Escorts 24x7
(INDIRA) Call Girl Mumbai Call Now 8250077686 Mumbai Escorts 24x7
 
The Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdfThe Economic History of the U.S. Lecture 22.pdf
The Economic History of the U.S. Lecture 22.pdf
 
WhatsApp 📞 Call : 9892124323 ✅Call Girls In Chembur ( Mumbai ) secure service
WhatsApp 📞 Call : 9892124323  ✅Call Girls In Chembur ( Mumbai ) secure serviceWhatsApp 📞 Call : 9892124323  ✅Call Girls In Chembur ( Mumbai ) secure service
WhatsApp 📞 Call : 9892124323 ✅Call Girls In Chembur ( Mumbai ) secure service
 
Dharavi Russian callg Girls, { 09892124323 } || Call Girl In Mumbai ...
Dharavi Russian callg Girls, { 09892124323 } || Call Girl In Mumbai ...Dharavi Russian callg Girls, { 09892124323 } || Call Girl In Mumbai ...
Dharavi Russian callg Girls, { 09892124323 } || Call Girl In Mumbai ...
 
Top Rated Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...
Top Rated  Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...Top Rated  Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...
Top Rated Pune Call Girls Viman Nagar ⟟ 6297143586 ⟟ Call Me For Genuine Sex...
 

Featured

AI Trends in Creative Operations 2024 by Artwork Flow.pdf
AI Trends in Creative Operations 2024 by Artwork Flow.pdfAI Trends in Creative Operations 2024 by Artwork Flow.pdf
AI Trends in Creative Operations 2024 by Artwork Flow.pdfmarketingartwork
 
PEPSICO Presentation to CAGNY Conference Feb 2024
PEPSICO Presentation to CAGNY Conference Feb 2024PEPSICO Presentation to CAGNY Conference Feb 2024
PEPSICO Presentation to CAGNY Conference Feb 2024Neil Kimberley
 
Content Methodology: A Best Practices Report (Webinar)
Content Methodology: A Best Practices Report (Webinar)Content Methodology: A Best Practices Report (Webinar)
Content Methodology: A Best Practices Report (Webinar)contently
 
How to Prepare For a Successful Job Search for 2024
How to Prepare For a Successful Job Search for 2024How to Prepare For a Successful Job Search for 2024
How to Prepare For a Successful Job Search for 2024Albert Qian
 
Social Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie InsightsSocial Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie InsightsKurio // The Social Media Age(ncy)
 
Trends In Paid Search: Navigating The Digital Landscape In 2024
Trends In Paid Search: Navigating The Digital Landscape In 2024Trends In Paid Search: Navigating The Digital Landscape In 2024
Trends In Paid Search: Navigating The Digital Landscape In 2024Search Engine Journal
 
5 Public speaking tips from TED - Visualized summary
5 Public speaking tips from TED - Visualized summary5 Public speaking tips from TED - Visualized summary
5 Public speaking tips from TED - Visualized summarySpeakerHub
 
ChatGPT and the Future of Work - Clark Boyd
ChatGPT and the Future of Work - Clark Boyd ChatGPT and the Future of Work - Clark Boyd
ChatGPT and the Future of Work - Clark Boyd Clark Boyd
 
Getting into the tech field. what next
Getting into the tech field. what next Getting into the tech field. what next
Getting into the tech field. what next Tessa Mero
 
Google's Just Not That Into You: Understanding Core Updates & Search Intent
Google's Just Not That Into You: Understanding Core Updates & Search IntentGoogle's Just Not That Into You: Understanding Core Updates & Search Intent
Google's Just Not That Into You: Understanding Core Updates & Search IntentLily Ray
 
Time Management & Productivity - Best Practices
Time Management & Productivity -  Best PracticesTime Management & Productivity -  Best Practices
Time Management & Productivity - Best PracticesVit Horky
 
The six step guide to practical project management
The six step guide to practical project managementThe six step guide to practical project management
The six step guide to practical project managementMindGenius
 
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...RachelPearson36
 
Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...
Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...
Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...Applitools
 
12 Ways to Increase Your Influence at Work
12 Ways to Increase Your Influence at Work12 Ways to Increase Your Influence at Work
12 Ways to Increase Your Influence at WorkGetSmarter
 

Featured (20)

AI Trends in Creative Operations 2024 by Artwork Flow.pdf
AI Trends in Creative Operations 2024 by Artwork Flow.pdfAI Trends in Creative Operations 2024 by Artwork Flow.pdf
AI Trends in Creative Operations 2024 by Artwork Flow.pdf
 
Skeleton Culture Code
Skeleton Culture CodeSkeleton Culture Code
Skeleton Culture Code
 
PEPSICO Presentation to CAGNY Conference Feb 2024
PEPSICO Presentation to CAGNY Conference Feb 2024PEPSICO Presentation to CAGNY Conference Feb 2024
PEPSICO Presentation to CAGNY Conference Feb 2024
 
Content Methodology: A Best Practices Report (Webinar)
Content Methodology: A Best Practices Report (Webinar)Content Methodology: A Best Practices Report (Webinar)
Content Methodology: A Best Practices Report (Webinar)
 
How to Prepare For a Successful Job Search for 2024
How to Prepare For a Successful Job Search for 2024How to Prepare For a Successful Job Search for 2024
How to Prepare For a Successful Job Search for 2024
 
Social Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie InsightsSocial Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie Insights
 
Trends In Paid Search: Navigating The Digital Landscape In 2024
Trends In Paid Search: Navigating The Digital Landscape In 2024Trends In Paid Search: Navigating The Digital Landscape In 2024
Trends In Paid Search: Navigating The Digital Landscape In 2024
 
5 Public speaking tips from TED - Visualized summary
5 Public speaking tips from TED - Visualized summary5 Public speaking tips from TED - Visualized summary
5 Public speaking tips from TED - Visualized summary
 
ChatGPT and the Future of Work - Clark Boyd
ChatGPT and the Future of Work - Clark Boyd ChatGPT and the Future of Work - Clark Boyd
ChatGPT and the Future of Work - Clark Boyd
 
Getting into the tech field. what next
Getting into the tech field. what next Getting into the tech field. what next
Getting into the tech field. what next
 
Google's Just Not That Into You: Understanding Core Updates & Search Intent
Google's Just Not That Into You: Understanding Core Updates & Search IntentGoogle's Just Not That Into You: Understanding Core Updates & Search Intent
Google's Just Not That Into You: Understanding Core Updates & Search Intent
 
How to have difficult conversations
How to have difficult conversations How to have difficult conversations
How to have difficult conversations
 
Introduction to Data Science
Introduction to Data ScienceIntroduction to Data Science
Introduction to Data Science
 
Time Management & Productivity - Best Practices
Time Management & Productivity -  Best PracticesTime Management & Productivity -  Best Practices
Time Management & Productivity - Best Practices
 
The six step guide to practical project management
The six step guide to practical project managementThe six step guide to practical project management
The six step guide to practical project management
 
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
 
Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...
Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...
Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...
 
12 Ways to Increase Your Influence at Work
12 Ways to Increase Your Influence at Work12 Ways to Increase Your Influence at Work
12 Ways to Increase Your Influence at Work
 
ChatGPT webinar slides
ChatGPT webinar slidesChatGPT webinar slides
ChatGPT webinar slides
 
More than Just Lines on a Map: Best Practices for U.S Bike Routes
More than Just Lines on a Map: Best Practices for U.S Bike RoutesMore than Just Lines on a Map: Best Practices for U.S Bike Routes
More than Just Lines on a Map: Best Practices for U.S Bike Routes
 

Most common myths about bankruptcy

  • 1. MOST COMMON MYTHS ABOUT BANKRUPTCY
  • 2. Bankruptcy is a complicated process and many people have misconceptions about it. Due to which people hold themselves back from filling bankruptcy. But in reality bankruptcy is the best debt relief option.You just need to put little a bit of extra effort so that you can understand the process of bankruptcy and take the benefits. Here we will discuss the most common myths and try to understand the facts of bankruptcy as outlined by Brian Linnekens which will underline the statement that bankruptcy is not such a tough process. It is a difficult process In bankruptcy there are many rules due to which it seems a difficult process. But according to Brian Linnekens with the help of proper assistance from an experienced attorney you can take the benefits of bankruptcy.The attorney you hire to file for bankruptcy has all the rules in the back of his mind and in the various books that he is going to consult over a period of time which of course will make it a cake walk for you provided you follow every advice in letter and spirit offered by your bankruptcy attorney.
  • 3. Filing for bankruptcy will show that you are a bad person Many people have an assumption that if you are filing for bankruptcy you will be shown in bad light to the world. But the fact is that by fling you are using your constitutional rights so that you can regain control over your finances. It’s not only you who are facing financial crisis, lot of people around you going through the same situation and the reason can be any – medical emergencies, loss in business and downturns in economy due to which they cannot pay their debts on time. And under such circumstances if you are filing for bankruptcy you are securing yourself as well as your family members. After filing for bankruptcy you will never won anything This is the most common myth about bankruptcy, but this is completely wrong. In actual this will give everyone an opportunity for a fresh start, you can own all new properties like you have owned before filing. For that you need to receive your discharge in bankruptcy. Your family will be in trouble if you are filing for the bankruptcy Many people believe that if they are filing for bankruptcy there will be a problem in the family and the family members will have to face the situation of separation or divorce.
  • 4. We know every family is different but the fact is completely opposite of it, once you decide to file for bankruptcy you can handle your family in a better way. Since by filing you have taken some action so that you can regain control over your finance. Creditor will still harass you and your families even after you file for bankruptcy After filing for the bankruptcy court orders an automatic stay so that creditors will not contact you in any way. With this stay in place creditors are not allowed to call and text you. If in any condition the creditors violate the court orders then he/ she will be penalized but there are rare chances of them to do so. Your credits will ruin for 10 years These are two different concepts which make the confusion.This is a fact that after filing for bankruptcy it will be visible on your credit report for 10 years, but the credit will not be damaged for the same time period. Mostly before filing for bankruptcy you damage all your credit as you are not able to pay your bills or debts on time. And after filing you start paying bills on times and slowly start rebuilding the credit. By doing this you can rebuild your credits within two to five years. And you come out clean from your bankruptcy there are chances that financial institutions will use their discretionary powers and provide you credit for the time you are looking for. Article Resource - http://www.brianlinnekens.net/most-common-myths-about- bankruptcy/