Thursday, June 20, 2013

Common Bankruptcy Misconceptions To Discuss With Your Attorney

Many people put off filing for bankruptcy when it really would be the best decision they can possibly make. There are many reasons that people give for not filing for bankruptcy when they need to do so. Therefore, if any of the following three reasons are keeping you from considering bankruptcy seriously, you should talk to your bankruptcy attorney about your concerns as soon as possible. 
Nobody Has to Know about Your Filing
Many people are concerned about filing for bankruptcy because they feel that everyone will know about their bankruptcy and feel embarrassed about it. While it is true that bankruptcy is public record and anybody who wants to know about bankruptcy filings can do so, most people do not care about bankruptcy filings unless it is a celebrity or other public figure filing. Therefore, when you file for bankruptcy, it is most likely that the only people who will know about you filing for bankruptcy are those that you tell about it yourself.
Bankruptcy Does Not Automatically Mean Failure
Another reason that several people put off bankruptcy is that they fear that bankruptcy means that they failed somehow. However, filing for bankruptcy does not mean that you have admitted defeat, or that you have even done something wrong or failed somehow. The truth is that most bankruptcies are filed due to divorce, death of a spouse, loss of a job, or a serious medical illness or a significant injury that resulted in excessive medical bills. None of these things is really your fault and so when you have to file for bankruptcy for any of these reasons, you have to feel assured that it is not your fault. 
You Will Not Lose All of Your Property
Finally, many people do not file for bankruptcy because they feel they will lose all of their property. However, the truth is that bankruptcy can help you to ensure that you get to keep your property. Bankruptcy is designed to help people keep their vehicles and homes, and is just a matter of talking to your qualified bankruptcy attorney about your options. 
This is a guest post provided for the enjoyment of Hope's Cafe readers.

**DISCLOSURE: This is a guest post in part with Bucks2Blog. **

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