Learn More About Bankruptcy Myths From A Bakersfield Attorney

All too often, people facing crushing debt problems delay filing bankruptcy, in part due to misinformation from well-meaning people who do not fully understand the bankruptcy process. If you are thinking about filing for bankruptcy, a knowledgeable attorney can give you the information you need to make wise decisions.

I am Steven Stanley. My Bakersfield law firm helps people across Kern County and the surrounding areas of California get debt relief through Chapter 7 bankruptcy. A big part of my job is helping people understand what bankruptcy is about. To help with this, I have listed some of the most common bankruptcy myths I hear from my clients.

Kern County Debt Discharge Lawyer Giving People The Facts About Bankruptcy

I can't get credit again if I file for bankruptcy: While a Chapter 7 bankruptcy filing will appear on your credit report for 10 years, this does not mean you will not be able to buy anything on credit again. Within a year of your bankruptcy discharge, or even sooner, it is very likely you will receive offers from credit card companies. In fact, some credit card companies find people who recently filed bankruptcy an attractive credit risk, since these people cannot file bankruptcy again for some time. Most of my clients are able to finance vehicles within 12 to 18 months of their bankruptcy discharge. In addition, my clients are able to buy property about three years after their bankruptcy discharge.

I can only keep one of my vehicles in bankruptcy: This is not necessarily true. Whether you can keep your car depends largely on the value of the vehicle. In Chapter 7 bankruptcy, certain property is exempt, meaning you get to keep it even after filing for bankruptcy. Therefore, if you own two vehicles and these vehicles are covered under the exemptions, you will be able to keep them. When you work with my law firm, I will help you understand exactly what you can and cannot keep in bankruptcy.

Filing bankruptcy is a sign of financial irresponsibility: Over my career, I have represented thousands of people who have filed for bankruptcy. The vast majority of my clients have had to file bankruptcy due to unforeseen circumstances such as a health problem, a divorce, the loss of a job, or some other unfortunate event. The fact is that most of my clients go to great lengths to avoid bankruptcy. Filing bankruptcy is not a personal failing, and you should not treat it that way.

Contact The Law Office Of Steven M. Stanley

My law firm offers a free initial consultation to discuss the facts about bankruptcy. Call 661-578-5149 or email my law firm to get started. Se habla español.

The Law Office of Steven M. Stanley is a debt relief agency that helps people file for relief under the Bankruptcy Code.