Bankruptcy Fear #3 I heard bankruptcy will ruin my credit. Ask yourself this one hard question: “With the debt you have now, do you really have “credit” ? “ Would any new lender seriously give you more credit to get yourself deeper in debt? Most people mistakenly believe that their credit and their credit report are the same thing. [...]
Bankruptcy Fear #4 I will lose my house, car, assets or personal property. Most people have a fear of filing personal bankruptcy through fear of losing a major asset, Do not deny yourself the debt relief you deserve out of fear of losing your house or your car. The truth is, the most common reason for people losing a [...]
Bankruptcy Fear #5 I’ll never be able to buy a house or car again Here’s a question. Can you buy one now? Probably not. Most people who seek bankruptcy protection have already had their credit scores tank because they’ve been unable to pay credit card bills and/or other debts. When those payments are not made your credit score will [...]
Bankruptcy Fear #6 – I’m worried about back taxes, medical bills and my spouse is worried about what will happen with his/her taxes and credit.
Bankruptcy Fear #6 I’m worried about back taxes, medical bills and my spouse is worried about what will happen with his/her taxes and credit. Certain federal, state and local taxes, inheritance taxes, and personal property taxes as well as overly burdensome interest and/or penalties can be mitigated under the bankruptcy laws. There are several qualifications that have to be [...]
Bankruptcy Fear #7 – I’ll have to explain how this happened to a judge and be grilled by a prosecutor and jury
Bankruptcy Fear # 7 I’ll have to explain how this happened to a judge and be grilled by a prosecutor and jury. Everyone dreads going to court for fear of being in a public forum, with lots of people milling around, listening and watching – but this is absolutely not the rule. Most people who file bankruptcy never meet [...]