Interesting Times
There is an ancient Chinese curse that reads: "May you live in interesting times." With the extraordinary challenges that we are facing in our economy right now, these are certainly "interesting times" for many Americans who are considering bankruptcy as a solution for serious debt problems.
During interesting times such as these, many Americans begin to panic. They start believing the things that people tell them, regardless of whether the information sources have any knowledge or are reliable in any way. At Walton Legal Services, our Indiana debt-relief attorneys have the experience and knowledge to help you understand the truth about the bankruptcy myths.
Walton Legal Services: More than 30 years | More than 30,000 bankruptcies filed
Misconceptions About Bankruptcy | Bankruptcy Myths
Will I Lose My Tax Refund in Bankruptcy?
- Not necessarily. We have experience with the complex tax issues in bankruptcy. We can advise you on ways to keep your tax return.
Will I Lose My Home or Other Property in Bankruptcy?
- Not necessarily. Especially with Chapter 13, which is primarily a repayment plan, many people find ways to repay their debts and keep much of their property. Even in Chapter 7, we have experience with reaffirmation and exemption, which generally help our clients retain their homes and other assets.
Will Bankruptcy Stop Creditors From Harassing Me?
- Yes. The automatic stay in bankruptcy law forbids creditors from continuing their collections activities during the course of the bankruptcy proceedings. Further, when your debts are discharged, you will no longer owe money to these creditors, so they will no longer have any reason to harass you.
Will Bankruptcy Ruin My Credit Forever?
- No. In fact, since there are limits to how often you can file for bankruptcy, many creditors see recently bankrupt consumers to be a better credit risk.
If you are looking for an Indianapolis debt-relief lawyer to help you find the road to financial freedom, call one of our Indianapolis law offices, call our Columbus, Indiana, office or contact us online. We offer free initial consultations, and we give you detailed up-front information about our fee arrangements, so there will be no surprises.
