Many individuals hesitate to file bankruptcy because of a multitude of concerns and other issues. They may believe several of the perpetuated myths of bankruptcy and are, therefore, unfamiliar with the positive benefits of filing a bankruptcy case as a means of solving financial problems. At the point in time that individuals start to consider bankruptcy, they are typically alone in dealing with their problems and must deal with burdensome financial stress without assistance. But it does not have to be this way.
America’s financial institutions want people to believe that bankruptcy is more trouble than it’s worth. These institutions want consumers to believe that bankruptcy has several drawbacks and offers no advantages. They want Americans to hesitate when considering bankruptcy.
Just the opposite is true. All of the things that these financial institutions consider to be the negative aspects of bankruptcy are myths. And like any myth, they are patently untrue.
For example, the following are myths of bankruptcy and are false:
- Filing bankruptcy is difficult.
- Filing bankruptcy will cause me to lose everything I own.
- I will never again own property after filing bankruptcy.
- I cannot discharge taxes in bankruptcy.
- I will never be able to get a mortgage loan again after bankruptcy.
- I won’t be able to get credit after bankruptcy.
- My credit will never be the same after bankruptcy.
- Both my spouse and I must file bankruptcy.
- I may only file bankruptcy once.
- BAPCPA Prevents me from filing bankruptcy.
- I’m a bad person for filing bankruptcy.
- Bankruptcy won’t help me keep my home.
Everything listed above is a myth about filing bankruptcy. Each is a false statement. However, the following is true:
- Filing bankruptcy is easy, especially with the assistance of an experienced and knowledgeable bankruptcy attorney like Theron Morrison.
- Bankruptcy allows me to keep important property that I may claim as exempt.
- I may own property after filing bankruptcy just as I would before filing bankruptcy.
- If I meet certain requirements I may discharge taxes in bankruptcy.
- I will not lose my home and I may refinance my mortgage after bankruptcy.
- My credit will be restored after bankruptcy slowly but surely.
- I may file bankruptcy without my spouse.
- Federal law allows multiple bankruptcy filings but the timeframes differ depending on the circumstances.
- BAPCPA does not prevent me from filing bankruptcy, it only changes the requirements.
- Federal law allows Americans to file bankruptcy cases.
If you need help asserting your rights, the seasoned professionals at the Morrison Law Group can help you. We can help when there is no one else available to offer assistance. Do not depend on your creditors or any other bill collector. Theron Morrison and the attorneys at the Morrison Law Group will devote their best efforts to protecting the rights of any and every Utah consumer. Don’t hesitate to take advantage of the rights that federal law affords you under the United States Bankruptcy Code and the United States Constitution.
In Title 11, otherwise known as the United States Bankruptcy Code, Congress has passed laws under the authoritative language of the U.S. Constitution. This valuable document permits and authorizes all Americans to avail themselves of the benefits of bankruptcy, legally and properly under federal law. Never hesitate to assert these rights as a means of gaining control over your financial problems.
The attorneys at the Morrison Law Group can help anyone considering bankruptcy maximize their Utah property exemptions and retain the greatest amount of property permitted by state and federal law. Call 801.456.9933 today to schedule a FREE consultation. We have locations in Ogden, Logan, Sandy, and St. George to serve the residents of the counties of Weber, Cache, Salt Lake, Utah, Morgan, Davis, Washington, and surrounding areas.