Bankruptcy and Credit Score
Debunking Myths About Bankruptcy
There are many myths surrounding bankruptcy and how it will affect your
credit score, finances and life. At Atlantis Law, the team of lawyers
aims to assist clients in debunking the myths regarding bankruptcy. They
are available to answer any questions that you may have regarding your
particular financial situation. Read through some of the most common bankruptcy
myths below and do not hesitate to work with Atlantis Law if you have
If I file for bankruptcy, it will prove that I am irresponsible.
No! Anyone can fall on hard times and most people are simply victims of
the economy or circumstances that were out of their own control. Honest
individuals may need to file for bankruptcy because of high mortgage payments,
medical bills or court cases.
All of my debts will go away after bankruptcy.
Not necessarily. While bankruptcy does discharge most of your debts, secured
debts will remain. Secured debts include some taxes, student loans, court
fees and child support.
Bankruptcy will ruin my credit for the rest of my life.
Filing for bankruptcy will show up on your credit for about 10 years,
however, you can begin to rebuild your credit as soon as you file. When
you work with Atlantis Law, they will ensure that are given the right tools to
rebuild your credit and gain control of your financial situation. To assist you, Atlantis
Law will enroll you into a 14 week, proven credit rebuilding educational
course with 720CreditScore.com.
My spouse will have to file if I file.
No, just because you file, does not mean that your spouse will have to
file as well. If your debt together is high, especially if you have joint
loans, it may be wise to file together - but you do not have to do so.
An attorney from Atlantis Law can help determine which situation may be
best for you and your spouse.
I must have a minimum amount of debt to file for bankruptcy.
In order to file for
Chapter 7 bankruptcy you will first have to meet the necessary requirements outlined
in Chapter 7 bankruptcy means test. The test will determine your overall
disposable income and help you decide if you are eligible to file for
a complete liquidation bankruptcy or if you will have to file under
Chapter 13 bankruptcy.
Legal Assistance in Rancho Cucamonga
Are you considering filing for bankruptcy? Do you still have questions
or concerns regarding your legal situation? If so, contact Atlantis Law
as soon as possible and retain the representation of a dedicated Rancho
Cucamonga bankruptcy lawyer. At Atlantis Law, their team is understanding
and committed to their clients' well-being and their trusted legal know-how can help you determine
the best course of legal action to take regarding your debt.
Contact Atlantis Law today and work with their team as soon as possible.