Myths Of Bankruptcy: I Will Never Again Own Property

Myths Of Bankruptcy: I Will Never Again Own Property

When consulting with prospective bankruptcy clients, many express that they are afraid to file bankruptcy because they believe that they will never own property again. This type of thinking is yet another myth promoted by America’s financial institutions that do not want Americans to avail themselves of their privilege to file bankruptcy and gain a fresh start.

It could not be farther from the truth to believe that a bankruptcy filing prevents bankruptcy debtors from ever owning property again. It is more than likely that after a debtor receives a bankruptcy discharge, he or she will receive credit card offers by mail and email. Shortly thereafter, former debtors should also receive offers from automobile lenders.

More importantly, past and former bankruptcy debtors with a good credit rating will be able to obtain a mortgage within two years of discharge. In fact, many debtors refinance a home loan while their bankruptcy is still ongoing.

The notion that past bankruptcy debtors will never own real or personal property after filing bankruptcy is purely a falsehood. There are no federal laws prohibiting former debtors from buying and owning a home, motor vehicle, or household goods after filing a bankruptcy case. There are no Utah state laws prohibiting anyone from buying and owning a home, motor vehicle, or household goods after filing a bankruptcy case.

Theron Morrison has helped 8,000 people file bankruptcy and gain a fresh start. He has helped over 20,000 Utah residents deal with all types of financial difficulties caused by various severe and tragic events. Theron Morrison and the Morrison Law Group do not negatively judge anyone with financial difficulties. We view them with compassion and understanding. We want to help. Call 801.456.9933 today to schedule a FREE consultation and learn about your Chapter 7 or Chapter 13 bankruptcy options. 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.

Myths Of Bankruptcy: I Will Never Again Own Property

 

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