Mesa Bankruptcy Lawyer and Bankruptcy Myths
Bankruptcy myths are abundant. There are numerous misconceptions about filing bankruptcy, bankruptcy in Mesa, and bankruptcy in general. These misconceptions can deter people in Mesa and surrounding communities from taking advantage of the opportunities that filing bankruptcy has to offer. There are, unfortunately, many myths regarding the subject of bankruptcy that can prevent or in some cases disastrously delay people in Mesa and surrounding communities from filing chapter 7 or chapter 13 bankruptcy.
As we cannot dispel all of these misconceptions in one page, please set up a free, no obligation, consultation with one of our Mesa bankruptcy lawyers. Our Arizona bankruptcy attorneys will give you the true facts about bankruptcy and dispel many of the false beliefs that you may have heard. Know the facts when considering the option of filing for bankruptcy.
Top bankruptcy myths include:
- You can only file for bankruptcy once in your life. A person can file for Chapter 7 bankruptcy once every eight years, and even more frequently for Chapter 13 bankruptcy.
- You will never have credit if you file for bankruptcy. After your bankruptcy case has concluded, you can immediately begin rebuilding your credit. Our Mesa bankruptcy lawyers will be happy to help.
- A married couple must file a joint bankruptcy petition. Spouses can for bankruptcy together or one spouse can file for bankruptcy on their own. Spouses DO NOT have to file a joint bankruptcy.
- Taxes can not be discharged in bankruptcy. Taxes can be discharged in both a Chapter 7 and Chapter 13 bankruptcy if the taxes meet certain criteria.
- Any type of debt can be discharged. Child support, alimony, educational loans and certain types of taxes cannot be discharged in Chapter 7 bankruptcy.
- All of your assets will be sold in a Chapter 7 bankruptcy. Many assets are exempt from liquidation such as Social Security, pensions, workers’ compensation and even your home or vehicle depending on its value.
- Creditors can still harass you after you file for bankruptcy. Once your petition has been received by the court, an automatic stay will be issued that will put an immediate stop to any and all creditor harassment.