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Bankruptcy Myths

New York Bankruptcy Lawyer

There are many myths and falsehoods that surround the subject of bankruptcy.  Myths such as it will ruin your credit for 10 years or that you will never be able to buy a house or car.  Some believe it is only for big corporations that are going out of business.  The truth is, if you can't pay your mortgage, make even your minimum credit card payments or are using one credit card to pay off another, your credit is already ruined.  If bill collectors are harassing you, if you are being threatened with repossession or foreclosure, you should speak to a New York bankruptcy attorney at Price Law Group to find out how we can help you.

Our firm has helped over 100,000 clients with financial problems resolve them through bankruptcy.  If you qualify, Chapter 7 bankruptcy will stop all the collection calls, discharge all your unpaid debts and let you keep most or all of your personal assets.  If you are being threatened with foreclosure, Chapter 13 bankruptcy may be able to help you keep your home.  The purpose of bankruptcy is to provide an individual or a business a chance to reorganize their finances and get a fresh start.

Speak to a Bankruptcy Attorney in New York

When you come to us for your free consultation, we can answer all your questions and provide you with the actual facts and benefits of bankruptcy.  Bankruptcy is not for everyone and we will advise you if there are other solutions to your situation.  Some of the most common misconceptions surrounding bankruptcy include:

  • Bankruptcy ruins your credit for at least 10 years - totally false.  While your bankruptcy will appear on your credit report, it will also show that your debts have been paid off.  Getting new credit may only take a few months.
  • I will lose everything - totally false.  Most if not all your assets will be protected.
  • My reputation will suffer - bankruptcy laws were written to help people start a new life, not to punish them.

To find out more about how bankruptcy could help solve your financial distress, speak to one of our attorneys today.

Contact a New York Bankruptcy Lawyer to find out how bankruptcy could help you eliminate your debts and get you a new start in life.

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