Your employer and the local newspaper will be informed of your bankruptcy filing.
When you file for Chapter 7 bankruptcy, your employer is not notified. If you choose to file under Chapter 13, you will ask your employer to garnish your wages to pay your creditors according to a court-approved Chapter 13 plan. Your employer is informed of your bankruptcy when you request that your wages be garnished. This is one of the many reasons why our law firm now strives to file as many cases as possible under Chapter 7.
Our local newspapers do not publish the names of those who have filed for bankruptcy, unless they are Donald Trump, American Airlines, Walt Disney, or other famous individuals or companies. Chapter 7 case I filed for a local microbrewery was the only case in my thirty-year bankruptcy practice to make the local newspaper. The article focused considerably more on the brewery than on the bankruptcy filing.
One must be extremely poor to declare bankruptcy.
The 2005 amendments to the U.S. Bankruptcy Code made it extremely difficult to register a bankruptcy case using the correct forms. However, we pursue cases on behalf of extremely poor individuals and other """"not-so-poor"""" individuals in financial distress. We offer a free consultation and can assist you in resolving your debt issues. The majority of our clients believe they are in a dire financial situation when they first enter our office, but they depart feeling confident that a solution has been found.
Your Credit Will Be Permanently Ruined
False! The majority of clients who visit our office have severe financial issues, and bankruptcy eliminates their debts and gives them a fresh start. The majority of our Chapter 7 clients finance late-model vehicles during the pendency of their bankruptcy cases. Two years after the discharge, customers who have worked to restore their credit will be able to obtain mortgage financing. Bankruptcy is a solution to a financial problem, and it typically improves our clients' credit and financial problems dramatically.
No longer is it possible to file for bankruptcy due to new laws.
In 2005, the United States Congress made significant modifications to our bankruptcy laws. These policies have the unfortunate effect of increasing the cost of filing for bankruptcy for consumer debtors. The forms currently required when a bankruptcy case is lodged are extremely complex. In my continuing legal education seminars, I instruct attorneys and paralegals on how to correctly prepare client forms to achieve the best possible outcome. It is crucial that you retain an experienced and knowledgeable bankruptcy attorney to represent you in this extremely complex area of law. Millions of Americans filed for bankruptcy before the new laws took effect, and millions continue to do so now that the new laws are in effect.
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