Bankruptcy Myths and Misconceptions

Dedicated California Debt Relief Law Firm

The number of bankruptcy myths and misconceptions that float around are staggering. The fact is, most of the commonly held beliefs concerning bankruptcy are outright falsehoods. You should not let rumors or stigma prevent you from taking a proactive step towards financial freedom. At the law office of Patrick McMahon, our San Francisco debt relief attorneys will dispel any bankruptcy myths and misconceptions you may have and help you forge a path to a brighter financial future.

To learn more about how bankruptcy can benefit you, contact our California bankruptcy lawyers online or call 415-543-9338 to arrange a free initial consultation to discuss your situation.

Dispelling Bankruptcy Myths and Misconceptions

Our experienced Oakland Chapter 13 attorneys can tell you the truth about debt relief and explain the benefits of bankruptcy. We will dispel many of the myths concerning these filings, including:

Filing means I will lose my home, car and possessions: A Chapter 7 filing does not mean that you will lose all worldly possessions. There are exemptions that can be made through proper planning that will allow you to keep your valuable property.

Filing for Chapter 13 means I have to pay back all debts: A Chapter 13 filing will allow you to set up an affordable repayment plan, which typically lasts between three to five years. At the end of that time period, most outstanding debts will be discharged.

Filing for bankruptcy will destroy my credit: Most people who are in need of debt relief have poor credit to begin with. Filing for bankruptcy is a proactive step towards confronting your debt which will allow you to rebuild your credit and give you the opportunity to become eligible for major loans in the future.

The lawyers at the law office of Patrick McMahon have been helping Californians escape the weight of crushing debt for more than 15 years. Let us put our experience to work for you.

Call for a Free Consultation With a San Francisco Filing for Bankruptcy Attorney

Do not prevent the myths you have heard surrounding bankruptcy hold you back from a new financial start. Contact our San Francisco debt relief lawyers online