Explained by Our San Mateo Bankruptcy Attorney
Our team at the Law Offices of Gary Brenner provides San Mateo and San Francisco Bay Area residents with up-to-date information about the latest laws and policies regarding bankruptcy cases. We accept Chapter 7 and Chapter 13 cases from all counties in the San Francisco Bay Area, including Contra Costa, Alameda, and Santa Clara counties.
Our job as your legal representation is to provide you with support during your most trying time, as well as to make sure that you have access to accurate information regarding your situation. You will run into many conflicting reports about bankruptcy as you enter and go through the process. Let us help iron out the details for you.
Three Common Bankruptcy Myths Dispelled
With our team, you can expect non-judgmental, supportive legal representation that can help you overcome this complicated process without feeling guilty about your financial situation. We bring you truths about bankruptcy so that you do not feel trapped by some of the most common bankruptcy myths.
1. Myth #1: Once you file for bankruptcy, your credit will forever be ruined.
False: While bankruptcy does lower your score, you are able to begin rebuilding that credit score as soon as you begin spending again. As long as you pay your bills on time, your credit score will continue to improve. Of course, if you begin missing payments, then that score will remain low. Regular payments lead to higher scores over time.
2. Myth #2: I don't have to pay back any of my debts once I file for bankruptcy.
False: While bankruptcy does give many of your debts a new beginning, certain types of debt must still be honored. Debts that are forgiven include medical bills, credit card debt, and personal loans. Some tax debt and student loans are also forgivable in bankruptcy, though this varies case by case.
3. Myth #3: Filing for bankruptcy is a symptom of irresponsible finances or financial ignorance.
False: Sometimes, circumstances arise that are out of your control, no matter how prepared you seem to be. Medical emergencies, prolonged illness, sudden job loss, and divorce can turn your world into chaos, leading to financial situations you never could have anticipated. No matter how much you might want to repay your debts, sometimes it just isn't possible. Bankruptcy gives good people a chance to start again.
Contact our office today for bankruptcy advice and legal counsel. We offer free consultations because you deserve to learn your legal options for free!