Common Bankruptcy Myths
Following recent amendments to the U.S. Bankruptcy Code in 2005, many bankruptcy myths were circulated that are entirely unfounded. Unfortunately, many people who could have benefited from bankruptcy have foregone the opportunity because of a misunderstanding of their rights and options.
Know Your Rights
The amendments to the bankruptcy laws have very little effect on most people's ability for debt relief under the U.S. Bankruptcy Code. Sacramento bankruptcy attorney Gary D. Greule can help you understand your rights. Here are a few things you will learn at your free consultation with Gary:
- Most of the people who contact our office are eligible for Chapter 7 bankruptcy relief. Even if you are not eligible for Chapter 7 bankruptcy, you may be eligible for Chapter 13 bankruptcy.
- Credit card debts and medical bills may still be discharged through a Chapter 7 bankruptcy.
- Many people are surprised at how fast they can restore their credit after a bankruptcy.
- Most people keep all or most of their property when they file for bankruptcy.
- Most people can keep their home and automobile, provided they are able to make their payments. Since Chapter 7 bankruptcy can discharge most types of debts — including credit card debt — it may allow you to free up enough money to afford your monthly home and car payment.
- Bankruptcy may allow you to put a temporary halt to a lawsuit or even discharge a judgment debt
- Most types of wage garnishment can be halted through the automatic stay the moment you file for bankruptcy. Most debts can then be discharged.
- Certain debts — child support, school loans and certain tax debts — may not be discharged. Most forms of consumer debt may be discharged, including credit card bills, medical bills, some IRS tax debts, unsecured loans and other debts.
Schedule a Free Consultation to Learn More
We are pleased to serve clients throughout the Greater Sacramento area. To schedule a free consultation with bankruptcy lawyer Gary D. Greule, contact our law office in Citrus Heights, California. For assistance, call 916-723-3606 or contact us by e-mail.
