When I started getting into trouble I became pretty acclimated to legal procedures. Calling my attorney and working out bail was just another way to spend a Saturday night. Unfortunately, the stiffer the charges, the more difficult it was to talk my way out of a bad situation. After so many charges, I found myself slapped with a long jail sentence, and I realized that I wanted to turn things around. Fortunately, my lawyer was able to walk me through yet another process, so that I could make the right changes. My blog discusses how to emotionally cope with legal issues so that you can start living a good life.
If you have a lot of debt that you can't pay off, it can increase your stress and make it difficult to fall asleep at night. However, you do not have to live with the worry forever. You have the option of filing for bankruptcy. However, before you do so, you should educate yourself about the process.
Here are some common myths about bankruptcy you should not believe.
Only Irresponsible People File for Bankruptcy
There is still a stigma surrounding bankruptcy. It is a common misconception that only irresponsible people declare bankruptcy. The truth is that the majority of people who file for bankruptcy are decent people who are just experiencing financial issues. You should never feel ashamed to file for bankruptcy.
Filing for Bankruptcy Will Ruin Your Credit Forever
It is true that your credit rating will take a hit after filing for bankruptcy. However, it does not have to stay that way forever. You can repair your credit over time. If you are having trouble getting approved for loans and credit, you should consider getting a secured credit card in the beginning.
You Can Only File for Bankruptcy Once
Many people also assume that you are only allowed to file for bankruptcy once. However, it is actually possible to file for bankruptcy multiple times in your lifetime. There are several life circumstances that can cause you to file for bankruptcy multiple times, such as sickness and job loss.
Everyone Will Know You Filed for Bankruptcy
One reason why some people are reluctant to file for bankruptcy is that they think everyone will find out. Although it will be a public record, people are not likely to go looking for it. Therefore, no one has to know about your bankruptcy unless you tell them.
You Do Not Need a Bankruptcy Lawyer
While you are not legally required to hire a bankruptcy lawyer, it is in your best interest to do so. Bankruptcy law is quite complex, and it's easy to make mistakes. If you make even a simple error on the bankruptcy paperwork, your case may get rejected.
An experienced bankruptcy lawyer can help you fill out the paperwork and guide you through the entire process. You will experience less stress with a lawyer on your side.
If you are thinking about filing for bankruptcy, you should schedule a consultation with a reputable bankruptcy lawyer as soon as possible. If you have additional questions, contact a company like Brian R. Cahn & Associates, LLC.Share