Cravens & Noll
Breaking the Bankruptcy Myths
We have seen too many people fall prey to the many bankruptcy myths floating around out there. Sometimes they are harmless, but in some cases, believing a bankruptcy myth can cause you to make decisions that will prove devastating to you and your family.
Talk to one of our Virginia bankruptcy attorneys. We can help you understand the truth about bankruptcy, why you need an experienced bankruptcy attorney, the difference between Chapter 7 and Chapter 13 bankruptcy, and the many benefits of filing for bankruptcy. The lawyers of Cravens & Noll can help you find the road to financial freedom.
- Myth #1: My Retirement account will be taken in bankruptcy.
This is one of the most popular myths around, but it is simply not true. Most retirement accounts are protected by law from the bankruptcy proceedings, so you can probably get full debt relief in bankruptcy without anyone touching your retirement accounts.
- Myth #2: Bankruptcy will have a negative impact on my career.
Many people worry about a possible negative impact on their careers when they file for bankruptcy. Although some employers will pull credit reports, and in some cases bankruptcy will be seen negatively by employers, in most cases it is not a problem.
- Myth #3: Bankruptcy will ruin my credit.
Although your credit will be negatively affected upon the initial bankruptcy filing, it is usually a necessary first step to reestablishing credit. Many lenders will see you as a better risk for credit, and you can use the small amounts of credit you receive to begin rebuilding your credit after bankruptcy.
Contact Richmond Chapter 7 Bankruptcy Attorney ∙ Free Initial Sessions
We do not think you should have to pay us for our job interview.
When you're looking for an attorney to help you file bankruptcy, it's a fair bet that you don't have a lot of extra money lying around to spend on legal fees. We understand that, and we do everything we can to keep our costs down, starting with your free initial consultation. Contact us today.
