Bankruptcy Myths

The new bankruptcy laws have many people worried about their eligibility to file for bankruptcy. We can dispel these worries and inform you of your options. At Rothschild & Ausbrooks, PLLC, we work closely with clients to get a fresh start on their finances and manage their debt. Partners Edgar M. Rothschild and Mary Beth Ausbrooks are board-certified in bankruptcy law, ensuring that clients receive thorough and experienced legal representation.

Do uncertainties regarding bankruptcy myths and truths have you stuck between a rock and a hard place? If so, consider a board-certified bankruptcy lawyer from Rothschild & Ausbrooks, PLLC. Contact our firm today to arrange your free consultation.

  • Myth: Some consumers believe Chapter 7 bankruptcy is no longer an option. Although the new laws have made it more difficult for consumers to qualify for bankruptcy, it can still be an option. The paperwork and process have become more involved. An experienced attorney from our firm can help you through this process and discuss your options.
  • Myth: Many people think that by filing Chapter 7 bankruptcy, they will lose all their property. This is not necessarily the case. Our firm can help you maintain property such as your home and car.
  • Myth: Many clients are under the impression that filing Chapter 13 will require paying back all creditors. Our experienced attorneys are often able to obtain repayment plans that do not require all debts to be paid.
  • Myth: People are often concerned that bankruptcy will have a negative impact on their credit score. In nearly all circumstances, however, filing bankruptcy is the first step toward rebuilding credit.
  • Myth: Many people think that they can file for bankruptcy only one time. Under the new bankruptcy laws, it is more difficult to file multiple times, but it is possible.

You do not have to deal with debt alone. You do not have to let bankruptcy myths prevent you from taking a step toward a brighter financial future. Please contact our firm today to learn how we can help.