Filing bankruptcy is a major decision and one that can understandably cause considerable stress. Your well-intentionED friends might even be telling you that you will lose everything when you file.
It’s time to set the record straight.
You will not lose anything, in virtually every case, if you file for bankruptcy. Let me explain.
I was answering questions today from a potential client. He said that he would have considered filing bankruptcy but he didn’t want to lose his house.
I asked him the value of his house and he said about $140,000.00 and he still owes approximately $120,000.00. I told him that if the numbers were correct, and he kept making the payments, no one was going to take the house and we could safely discharge his credit card debt of $35,000.
I then asked him why he thought he would lose his house. HE told me that was what his friends told him.
Wrong! I didn’t know that his friends were so well versed in the area of law that I have focused on for 34 years!
His friends were wrong, of course. That’s what can happen when you get a little bit of information. It can spread to mis-information and do more harm than good. And you would be wrong also if you relied on sources such as your friends, or even some internet articles, for advice on such an important matter. This is especially true when you have a free resource right here to ask… us!
We almost never see anyone lose a house, car, motorcycle, retirement plan, or anything else of real value. If there was a chance that this would happen, you will know it before you give us permission to file your papers.
So keep your friends but toss their advice. And we’ll see you in the office for a free consultation.