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Common Myths About Bankruptcy We Can Help You Find out Whether Bankruptcy Is Right for You

Common Myths About Bankruptcy in Roswell

Get the Truth About Bankruptcy

In any subject as emotionally charged and legally complex as bankruptcy, it is normal to discover misconceptions and false information. Everyone you talk to has their own opinion. You may feel compelled to accept their advice, but who knows where they learned what they tell you and whether it is even true? If you are considering bankruptcy as a solution to your financial problems, it is important to contact a Roswell bankruptcy attorney to help you navigate the sea of information and misinformation.

To help you decide whether to pursue bankruptcy, here is information on a few common myths:

  • Once I declare bankruptcy I will be totally debt-free - While bankruptcy is a powerful tool to handle your insolvency, it does not save you from all debt. If you owe back taxes, alimony or child-support payments, you will still have to fulfill these debts.
  • If I declare bankruptcy I will never be able to qualify for a loan again - A declaration of bankruptcy will appear on your credit report for 10 years. At some point in the future it will drop off the end of the sheet. In the meantime, you will still be able to borrow money and will continue to receive unsolicited offers for credit cards and other borrowing opportunities. The main difference will be that you will be asked to pay a higher interest rate until your credit score has recovered.
  • Declaring bankruptcy is something I will have to be ashamed of - More and more Americans are seeking bankruptcy as a shelter from their creditors when they find themselves drowning in debt. In fact, over the past few years greater than one million people in this country have filed for bankruptcy. If you ask around, there is a good chance that someone you know has already done this.

Roswell Bankruptcy Attorney

If you are considering filing bankruptcy, an attorney at The Sherman Law Group can help you sort out the true from the false about this intricate process.

We proudly serve clients in Roswell, as well as communities in the surrounding area:

There is a lot to know about declaring bankruptcy. Don't take any chances with your future. Contact a Roswell bankruptcy attorney at The Sherman Law Group today for help and guidance in finding the way out.