Did you file for bankruptcy protection? By now, you have probably heard many bad things about its repercussions. Blemished reputation, the risk of losing everything you have worked hard to own, bad credit, and creditor problems are just a couple of these common fears. However, did you know many of these fears are just misconceptions?
The most common fear is that filing for bankruptcy can hurt your credit standing for up to 10 years. There is the apprehension that you can no longer get a good loan from a bank because you are already blacklisted. While it may be true that a bankruptcy filing will create a mark on your credit standing for ten years, you still have the power to rebuild it even before you are discharged.
To enhance your credit reputation even during the pendency of your bankruptcy case, all you need to do is make do with your payment dues. Try to meet all your due and demandable liabilities while still under bankruptcy. Once you are out, make sure that you monitor your debt ratio.
Do you fear that many people will know that you have filed for bankruptcy? This is another common apprehension for many. You may think newspapers will report about your filing. Unless you are a major celebrity or known personality, people will not go to extreme lengths to know that you have filed for bankruptcy. All court processes and related correspondence are kept confidentiality and shared only with parties in the case.
Individuals who file for bankruptcy are often painted as bad people. The public sees bankruptcy petitioners as those who spent all that money but don’t work hard enough to pay it all back. And now they come to court and seek protection from the creditors so that they will not have to pay. That is false. Not all people who filed for bankruptcy deserve the bad rep. It could be that they just found themselves in a rough patch; e.g., a loved one needs medical treatment that is very expensive, or they need money for their child’s university tuition. There are honest, and hard-working folks that deserve a fresh start, and filing for bankruptcy is all the help they need.
Some people do not resort to bankruptcy filing because it is a complex process. While that may be true to a certain extent, a skilled bankruptcy lawyer can help. Thus, if you are planning to file your petition, it is highly recommended that you seek the help of a seasoned bankruptcy lawyer.
If you can no longer meet your financial obligations as they become due, perhaps filing for bankruptcy is your best recourse. Bankruptcy allows you to retain your assets and pay all your debts in a manner that is most feasible and convenient to you.
Are you considering bankruptcy? It is crucial that you seek legal representation. If you are looking for a top-notch Utah bankruptcy lawyer, get in touch with Justin Myers Attorney-at-Law.
At Justin Myers Attorney-at-Law, we can get you started on getting a fresh start. We are committed to ensuring that your interests are preserved and protected. When you visit our office, our Utah bankruptcy lawyer will gladly listen to your predicament and discuss all your available legal options.
You have the power to leave all your debts behind. Why worry about it? Speak with our Utah bankruptcy lawyer. We can guide you to the path of financial freedom. To schedule your appointment, please contact us at (801) 505-9679.