Myths About Bankruptcy

Oklahoma Debt Relief Attorney

Even though filing for bankruptcy has become more prevalent in our society, many people still have misconceptions about the bankruptcy process and the effect filing for bankruptcy can have on your life.

At Michael J. Rose PC, located in Oklahoma City, we are here to dispel bankruptcy myths and give people useful bankruptcy information so that they can make informed decisions about their future.  To learn more, please do not hesitate to contact our offices to schedule a complimentary consultation today.

Myth #1: Filing for bankruptcy ruins your credit forever.

Definitely not.  In fact, filing for bankruptcy can help improve your credit because you may be able to discharge unsecured debt like credit card bills and medical bill debt.  Our attorney can also educate you about how to rebuild your credit after bankruptcy.

Myth #2: Creditors can still come after you after you file for bankruptcy.

NO. Once you file for either Chapter 7 or Chapter 13 bankruptcy, creditors must stop calling you and sending you threatening letters.  They must now use the avenues available to them under the bankruptcy code to state their interest in your case.  We will make sure creditor harassment stops while you are taking legal steps to achieve debt relief.

Myth #3: You can go to jail for filing for bankruptcy.

Incorrect.  The United States does not believe in debtor’s prison.  The only way you can go to jail as a result of filing for bankruptcy is by committing fraud and falsely reporting your assets.  We can help you avoid incorrect reporting.

Myth #4: Filing for bankruptcy can affect your job.

Not true.  An employer cannot penalize you for filing for bankruptcy.  This is a private, personal matter and you should not be judged for taking corrective action to fix your finances.

Contact our office today to schedule a free consultation and see how we can help you.  If you have questions, we are here to provide comprehensive answers. We are here to help you.