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Old Tax Debts Can Be Erased with Bankruptcy

Even after 35+ years practicing bankruptcy law, we never cease to be amazed by how much misinformation about bankruptcy people believe. Many people erroneously believe that tax debts cannot be erased in bankruptcy. The truth is that certain back income taxes can be erased in bankruptcy.

We debunk five other bankruptcy myths here!

While old tax debts can be erased with bankruptcy, it is important to know that payroll taxes and penalties for fraud cannot be erased.

Dischargeable Income Tax Debts In Bankruptcy Must Meet Three Criterion:

  • The tax debt must be at least 3-years old.
  • The tax return related to the debt must have been on file for at least 2-years.
  • The tax debt must be assessed by the IRS at least 240 days prior to filing bankruptcy.

If your income tax debts meet the above criterion, then they may be erased in bankruptcy. Any interest and penalties associated with that tax debt are erased as well. These rules apply to both federal and state income tax debts.

More On the Three Criterion: Older Income Tax Debts Can Be Erased with Bankruptcy

Income tax debts that are at least 3-years old are eligible for bankruptcy discharge. The tax return associated with the tax debt must have been due, including any extensions, more than 3-years before the date the bankruptcy case is filed.

If the tax return related to the debt was not filed on time, that tax return must have been filed more than 2-years before the date the bankruptcy case is filed.

Finally, the tax debt must have been “assessed” by the IRS at least 240-days prior to the date the bankruptcy case is filed. A tax debt is assessed on the date the tax liability is officially assessed at the IRS Service Center and the applicable form is signed by an IRS official.

While older income tax debts that meet these three criterion may be dischargeable in bankruptcy, new or recent tax debts are not erased in bankruptcy. Also, as mentioned above, payroll taxes and penalties for fraud cannot be erased in bankruptcy either.

Knowledge Is Power: Learn How Bankruptcy Can Help You Gain Financial Freedom

Learn about the ways bankruptcy can help you! Contact us for a free consultation by clicking here or calling (912) 351-9000. We’re here to help you gain the financial freedom you deserve. The Law Offices of Barbara B. Braziel proudly serves the greater Savannah, GA area.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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The Bankruptcy Discharge Order

Receiving a Bankruptcy Discharge Order from the bankruptcy court is the goal when you file for bankruptcy.

A bankruptcy discharge is a court order that releases you from personal liability on certain debts. You are no longer legally required to pay back any debts that are part of your bankruptcy discharge. Further, the creditors of discharged debts can never legally attempt to collect payment on those debts.

Discharge Does Not Apply to All Debts 

Bankruptcy discharge applies to unsecured debts, which includes credit cards, medical debts, personal loans, and other consumer debts.

Bankruptcy discharge does not apply to debts that are deemed nondischargeable by the Bankruptcy Code. Debts that are nondischargeable are not erased by bankruptcy, and you are still liable to pay them back even after successfully filing for bankruptcy. Nondischargeable debts include student loans, some taxes, back child or spousal support, as well as some other types of debt.

When you hire us to help you file for bankruptcy, we will review your specific situation and make sure you know which of your debts will be erased by your bankruptcy.

Discharge Erases Personal Liability Only

It is important to understand that bankruptcy discharge applies to personal liability only. This matters in regard to any of your secured debts. Secured debts are those backed by collateral, such as a home mortgage or car loan.

To illustrate why this matters, consider the following example:

Say you have a secured car loan. If you fail to make your payments on the car loan, the creditor has the right to repossess the car. In the absence of a reaffirmation agreement, after receiving your bankruptcy discharge you would no longer be personally liable to pay back the debt on the car, but if you fail to make your monthly payments the creditor retains the right to repossess the car.

Discharge is Granted at The End of the Bankruptcy Case 

The Bankruptcy Discharge Order is issued from the Bankruptcy Court at the end of a successful bankruptcy case.

The timing of when discharge is granted depends on which chapter of bankruptcy you file. If you file for Chapter 7 bankruptcy you will be granted discharge after the time has tolled for your bankruptcy trustee and creditors to object to discharge. In a Chapter 7 you can typically expect a discharge 4 to 6 months after the date your case is filed. If you file for Chapter 13 bankruptcy you will be granted discharge after you have made all payments under your repayment plan.

Creditors Must Cease All Collection Action Even Before Discharge

During the time you are awaiting your bankruptcy discharge your creditors are not allowed to attempt any collection action against you. All collection activity must stop as soon as your bankruptcy case is filed. Read our articles here and here on the power of bankruptcy to stop all collection action.

Here at the Law Offices of Barbara B. Braziel we make sure you understand the benefits of bankruptcy and how filing with affect you and your family. We take the time to explain the bankruptcy process to our clients. We invite you learn more about our firm here and come meet with us for a free no-obligation consultation.

Reach out to us by email at info@BrazielLaw.com or call (912) 351-9000.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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Credit “Obtained By” False Pretenses & Bankruptcy

Bankruptcy law is designed to help honest people get out of debt. It is not designed to help people to get away with bad behavior. The law prevents people who lie or commit fraud when obtaining credit to erase those debts through bankruptcy.

The U.S. Bankruptcy Code precludes discharge of debts “for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by” false pretenses, a false representation, or actual fraud. 11 U.S.C. § 523 (a)(2)(A).

To prevent discharge of the debt, a creditor must bring an adversarial proceeding within the underlying bankruptcy case, proving the following elements of their claim under §523 of the Bankruptcy Code:

  • the debtor made a false representation with intent to deceive the creditor;
  • the creditor actually relied on the misrepresentation;
  • the creditor’s reliance was justifiable; and
  • the misrepresentation cause a loss to the creditor.

HSSM #7 Ltd. P’ship v. Bilzerian (In Re Bilzerian), 100 F.3d 886 (11th Cir. 1996). If a debtor lied or committed fraud when incurring debt, and the creditor actually and justifiable relied on the lies, those debts cannot be erased through bankruptcy.

The United States Bankruptcy Court, Southern District of Georgia, Savannah Division recently handed down an option in a case regarding the exception to discharge for money obtained (debt incurred) by false pretenses.

In Hornsby v. Boone the debtor (and defendant in the adversarial proceeding) Mark Hornsby borrowed $110,000 from Michael Boone, plaintiff. Hornsby executed a promissory note to Boone. When the note became due, Hornsby gave Boone a check for $110,000. When Boone deposited the check, the bank would not honor it because the account the check had been drawn on was closed. Boone sued Hornsby for nonpayment and won a default judgment in superior court.

The court found that Hornsby “knew or should have known the check was bad.” The court agreed with Boone’s assertion that Hornsby “gave Boone the bad check to induce Boone not to pursue collection under the promissory note.”

However, the court dismissed Boone’s claim, ruled in favor of Hornsby and granted discharge of the debt. Hornsby v. Boone (In re Hornsby), Case No. 15-41528, Adv. No. 15-04057 (Bankr. S.D. Ga. Sept. 19, 2016).

Even though the court determined that Hornsby knew the check was bad (or should have know) and that he gave the check to Boone to stop him from pursuing collection of the debt, the debt was still dischargeable in bankruptcy. Hornsby does not have to pay Boone back the $110,000 he borrowed under the promissory note.

How is this outcome possible?

The court determined that the loan was not “obtained by” false pretenses, because Hornsby did not give Boone the bad check until payment became due. The check was intended to induce Boone to refrain from pursuing collection on the promissory note; however, the check was not part of Hornsby’s receipt of “money, property, services, or an extension, renewal, or refinancing of credit” as would have been necessary under the credit obtained by false pretenses exception to discharge of 11 U.S.C. § 523 (a)(2)(A).

Under the facts of this case, the court did not have to make a determination on whether or not the presentation of a bad check itself is false representation (an issue on which courts are divided).

The U.S. Bankruptcy Code precludes the discharge of debts incurred by unsavory or illegal acts. However, congruent with good public policy, bankruptcy law provides a powerful tool to help good people get control of their finances and have a fresh financial start.

At the Law Offices of Barbara B. Braziel we file hundreds of Chapter 7 and 13 bankruptcy cases every year. But our clients are never just a number. You will not be left in the hands of a paralegal. You will have access to your attorney throughout your bankruptcy case.

We are here to give you the fresh start you deserve. Call us today at (912) 351-9000 or contact us via the web to schedule a free consultation.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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Wondering What Happens When You Stop Paying Your Bills?

It is scary to come to a point where you can’t pay your monthly bills. Maybe you’ve just missed one credit card payment, or maybe you’ve fallen behind on a number of bills for a number of months.

The truth is that everybody wants to pay back their debts. We understand that if you’re not making your monthly payments it is because you can’t afford to. What happens when you stop paying your bills depends on what type of debt it is.

Not Paying On Credit Card Debt

Within a few days of missing a credit card payment the creditor will begin to call you and send you letters in the mail. If debt collection calls become distressing, you have the power to stop the calls.

Depending on the terms of your agreement with the creditor, interest and penalties may be added to the amount you owe. The amount of money you owe is likely to continue to increase, even if you are not longer using the credit card.

Your creditor can file a lawsuit against you for nonpayment of debt. If your creditor is successful in court, they get a judgment against you. With a judgment your creditor then has the power to garnish your wages or levy (take money from) your bank account.

This applies also to medical debt, personal loans, and other unsecured debt. However, the IRS does not have to sue you or go through the court process to be legally able to garnish wages or levy bank accounts.

Not Paying Your Car Payment

Car loans are secured debts. The loan is backed by the car. So, if you fall behind on your car payments, the lender has the right to repossess the car.

If this happens, the lender will then sell the car at auction and use the proceeds to pay off your loan. If the car sells for less than what you owe, then the lender can bring collection action against you for the deficiency.

Before repossession most lenders will contact you in an effort to get you caught up on your payments. However, since the value of automobiles depreciate quickly, typically a lender will repossess a car after only a few missed payments.

Not Paying Your Mortgage

Most home loans come with a 10-15 day grace period. If you do not make payment within the grace period, a late fee will be assessed. At this point the lender will likely begin to call you and send you letters reminding you that your payment is due.

Mortgages are secured debts backed by the house. If you fall behind on your mortgage payments, the lender has the right to foreclose on your house.

If you miss one payment, or a few, we encourage you to discuss loss mitigation options with your lender. You may be able to work out a payment plan, loan modification, or be edible for short-term forbearance. Alternatively, you can Catch Up on Missed Mortgage Payments with Chapter 13 Bankruptcy.

If you’re unable to pay your bills, bankruptcy may be the solution to your debt problems.

Filing for bankruptcy can erase your credit card debts, other unsecured debts, and judgments creditors have against you. Bankruptcy stops wage garnishments, bank levies, and any law suits your creditors have filed against you.

Bankruptcy, at least in the short term, stops repossessions and foreclosures. To learn how, read our articles The Power of the Automatic Stay and How It Helps You and Bankruptcy Stops Collection Action.

If you’re unable to make your monthly payments on credit cards or to other creditors, contact us right now to schedule a free consultation to discuss how bankruptcy can erase your debts.

We’re located centrally in the Savannah, GA area. We serve Savannah, GA, and the surrounding areas including Chatham County, Effingham County, Bulloch County, Bryan County, Liberty County, Long County.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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Get Stress Relief: Stop Creditor Calls and Collection!

Have you fallen behind on your bills and now your phone is ringing non-stop with debt collection calls? Are you being harassed by calls from collection agencies? Does your stomach knot up every time you see a random (888) number pop up on your screen?

Did you know you have the power to stop collection calls yourself?

We want you to know your rights. There are laws in place to protect you from being harassed by creditors. No matter how much money you owe, or how far you’ve fallen behind on payments, nobody has the right to abuse you or mistreat you because of it.

The Fair Debt Collection Practices Act (FDCPA) is federal law designed to protect you and stop abusive, deceptive, and unfair debt collection practices. Even in the face of these powerful laws, many creditors still engage in illegal and abusive debt collection practices in violation of your rights under the FDCPA.

How to Stop Creditor Calls

Under the FDCPA, once you notify a collection agency in writing that you do not want to receive phone calls, they cannot legally continue to call you except under certain circumstances. If they continue calling, you have the right to sue them for violating your rights.

To get the collection calls to stop, follow these steps:

  1. Send the collection agency a letter telling them to stop calling you.
  • Send the letter by certified mail, so you have proof of delivery
  • Keep a copy of the letter
  • Do not provide any information the collection agency does not already have (such as your current address or phone number, name changes, etc.)
  1. Keep a record of everything.
  • Including letters, log of phone calls, voice mails, and notes on any conversations.
  • If you speak to a collection agency, make notes on what was said, and note the date, time, and agent’s name and employee ID number.

What to write in the letter:

To ensure the creditor understands you know your rights, use the following language in the letter:

This letter is to notify you in writing that I no longer wish to receive communication from you, including phone calls, in regard to the alleged debt. Pursuant to the Fair Debt Collection Practices Act § 805, 15 U.S.C. § 1692(c) you must cease all communication with me, family members, or my employer.

You may only contact me to notify me in writing of your intention to either pursue specific remedies or terminate collection attempts.

This letter is in regard to ceasing communication, and is not, and should not be construed as, an admission regarding any alleged debt.”

The Debt Still Exists Even If the Collection Phone Calls Stop

It is important to understand that even if the phone calls have stopped, the debt still exists. Even if they are not calling you, your creditors can take collection action against you, including suing you for unpaid debt.

Did you know bankruptcy stops all collection action, including law suits, wage garnishments, and bank freezes? To learn more, read our article here.

Certainly stopping harassing credit calls will help you get stress relief. However, we encourage you not to ignore or avoid your debt problems. We’re here to help you get out of debt. We even offer free consultations to anyone in Savannah, GA and all of the surrounding areas.

Follow us on Facebook for more tips to stop creditor harassment!

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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Bankruptcy Stops Collection Action

Are you being harassed by debt collectors? Is your phone ringing off the hook with (888) calls from creditors? When your phone rings, do you feel a surge of anxiety because you know it is another collection call?

Are you being sued for not paying a debt back? Or, do you have a default judgment against you because you ignored a law suit?  Do you need a fresh financial start?

The Law Offices of Barbara B. Braziel is committed to helping you gain financial freedom to help you make today the first day of the rest of your life. We’ve been helping people erase debt with bankruptcy for over 30 years.

Bankruptcy stops all collection action. As soon as your bankruptcy case is filed, it is illegal for your creditors to attempt to collect from you. This is because of the automatic stay. To learn more, read our article The Power of the Automatic Stay and How It Helps You.

Once your case is filed  your creditors must cease and desist all collection action against you, including:

  • Call you or send you bills
  • Garnish wages
  • Levy bank accounts
  • Sue you for unpaid debts
  • Move forward with a pending law suit
  • Repossess your car (at least not right away)
  • Foreclose on your home (at least not right away)

Bankruptcy is a powerful tool to help you. Bankruptcy does not just stop collection action. It also wipes out debts, including credit card debt and medical bills. At the conclusion of your case, most or all of your debts are discharged – they are erased forever. Your creditors can never try to collect on a discharged debt from you again.

Imagine that your phone stops incessantly ringing with collection calls. You no longer live in fear of when you’re going to get served with a law suit. Your wages stop being garnished.

Imagine the feeling of relief when you have a zero balance on all credit card debt. Picture the day you get a fresh start – a life free of the stress and anxiety of carrying a mountain of debt. Bankruptcy is a powerful tool that can give you the fresh start you just envisioned.

Follow us on Facebook to learn more about how to stop collection action and harassing phone calls!

We are here to help you get out of debt and gain the financial freedom you deserve. Call us today at (912) 351-9000 or contact us via the web to schedule a free consultation.

For over 30-years we have been helping people in Savannah, Richmond Hill, Hinesville, Pooler, Port Wentworth, Tybee Island, Clyo, Ellabel, Midway, Springfield, Pembroke, Brooklet, Garden City, and Ludowici Georgia get out of debt through bankruptcy.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code

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Our Law Office Offers Affordable Payment Plans

We understand that you are coming to us because you are struggling with debt. The last thing you want is another bill to pay.

When we meet for the free consultation, most people are worried about how they are going to pay for bankruptcy. Rest assured that we will work with you to give you the opportunity for a fresh start.

 

The Costs of Filing for Bankruptcy

The costs associated with filing for bankruptcy include: attorneys’ fees, a bankruptcy court filing fee, and the cost of mandatory credit counseling and a debtor education course. Below we will cover each cost in detail.

Many of our clients are making monthly payments on debts that will ultimately be erased in their bankruptcy, so they choose to reallocate those funds toward paying for their bankruptcy. At our free consultation we can explore this option together.

 

Chapter 7 Attorneys’ Fees

We charge a flat fee to file your bankruptcy case. We make sure our clients are never surprised with an unaffordable or outrageous bill.

Before you retain us as your bankruptcy attorney, we will go over the flat-rate attorneys’ fees and what is covered by those fees.

Attorneys’ fees are paid in full before we file your case. We require full payment in advance because as soon as your case is filed, your creditors are not allowed to attempt to collect from you, including us. This means that if we do our job right, we would never be able to collect the attorneys’ fees from you.

 

Chapter 13 Attorneys’ Fees

In the Southern District of Georgia, the Chapter 13 bankruptcy Attorneys’ fees are set by the court. This is called a “no look” fee. However, unlike with a Chapter 7 filing, we do not collect the attorneys’ fees up front.

Chapter 13 bankruptcy creates a repayment plan of debts, so you are able to pay all attorneys’ fees after your case is filed. Our office can be paid from the monthly payments you make in your repayment plan.

 

Court Filing Fee

The court filing fee is set by the Bankruptcy Court. Currently the fees are:

  • $335 for a Chapter 7 filing
  • $310 for a Chapter 13 filing

 

Mandatory Credit Counseling & Personal Financial Management Course

The U.S. Bankruptcy Code requires that every person who files for bankruptcy complete two courses. The first is credit counseling, that must be completed before filing. The other is a course in personal financial management, that must be completed after filing, but before the Court grants your bankruptcy discharge of debts.

Many of our clients are concerned about these courses. Please know that these courses do not take very much time, and both can be completed online. We will provide you with a list of approved organizations that offer these courses at a reasonable cost.

At our free consultation we will review all of the fees associated with filing for bankruptcy. You will never get a surprise bill from our law office. Call us right now at (912) 351-9000 or use this online form to schedule a free consultation!

The Law Offices of Barbara B. Braziel is located centrally in the Savannah, GA area.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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The Power of the Automatic Stay and How It Helps You

As soon as you file for bankruptcy, all collection action against you must stop.

The automatic stay puts an end to collection phone calls, a mailbox stuffed with overdue bills, law suits, wage garnishments, and any other debt collection action against you. The automatic stay is powerful.

The automatic stay is a provision in the U.S. Bankruptcy Code that makes it illegal for creditors to attempt to collect on debts from a person who has filed for bankruptcy protection. There are only a few exceptions to the automatic stay.

 

The Automatic Stay Begins As Soon As Your Bankruptcy Case Is Filed

As soon as you file for bankruptcy your creditors must stop calling you, billing you, or taking any measures to attempt to collect money from you. Any repossession or foreclosure action must stop immediately as well.

 

The Automatic Stay Is Effective For the Life Of Your Bankruptcy Case

With few exceptions, the benefits of the automatic stay remain in effect throughout your bankruptcy case. At the conclusion of a successful bankruptcy, you receive a bankruptcy discharge. The bankruptcy discharge is a court order that says your debts are discharged. This means you are no longer personally liable to pay back your debts. Once you have your discharge, your creditors cannot legally attempt to collect any discharged debts from you, and the automatic stay is no longer necessary.

In rare cases the bankruptcy judge will lift the automatic stay at the explicit request of a creditor. In such cases, the creditor must file the appropriate paperwork and you must be given the opportunity to fight it.

 

Creditors Must Cease and Desist from All Collection Action

The automatic stay is a powerful right granted to debtors. Once you file for bankruptcy protection, your creditors are not allowed to:

  • Call you or send you bills
  • Garnish wages
  • Levy bank accounts
  • Sue you for unpaid debts
  • Move forward with a pending law suit
  • Repossess your car (at least not right away)
  • Foreclose on your home (at least not right away)

 

Exceptions to the Automatic Stay

There are a few rare exceptions to the automatic stay. These exceptions are enumerated by Congress in the U.S. Bankruptcy Code. The automatic stay exceptions include family law proceedings relating to divorce or parenting, collection on ERISA-qualified pension loans, IRS tax audits, demands for tax returns, or assessment of tax liabilities. However, the IRS must cease and desist from collection action for tax debts while the automatic stay is in effect.

 

The Automatic Stay Does Apply to Co-Debtors In Some Instances

The automatic stay may apply to other people who may have co-signed a loan with you.

If you have a loan or line of credit with someone else, the creditor is not allowed to continue collection action against an individual co-signer without court approval in most instances.

Note that if you file a joint bankruptcy petition with your spouse, the automatic stay will stop tax collection action against both of you. However, if only one spouse files for bankruptcy, collection action by the federal or state government for tax debt may legally continue against the non-filing spouse.

 

What Happens If A Creditor Violated the Automatic Stay

Any continued collection action against you is a violation of federal law. If you’ve filed for bankruptcy and a creditor continues to attempt collection, or even contacts you to attempt settlement, contact your bankruptcy attorney immediately.

Make sure to keep excellent records of the dates, times, names of people with whom you spoke, and any other evidentiary support. You may be able to make a recovery against a creditor who willfully continues to violate the automatic stay.

Follow us on Facebook to learn more about how to stop creditor harassment!

We are here to stop creditor harassment, get you out of debt, and help you gain the financial freedom you deserve. Call us today at (912) 351-9000 or contact us via the web to schedule a free consultation.

The Law Offices of Barbara B. Braziel proudly serve people in Savannah, GA and the surrounding areas.

 

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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Five Bankruptcy Myths Dispelled

Even after 30+ years of practicing bankruptcy law, we never cease to be amazed at how many bankruptcy myths are believed by most people. Misinformation about bankruptcy abounds. In nearly every free consultation, we dispel at least one bankruptcy myth.

People come to us worried that someone will come take all of their belongings if they file for bankruptcy, or that they’ll never be able to get credit or take out a loan again. Both of these are far from the truth.

In an effort to help people better understand what bankruptcy is (and isn’t), we’ve compiled a list of five bankruptcy myths we often hear.

 

Bankruptcy Myth 1: Someone will come take all of my stuff.

The truth is most debtors (people who file for bankruptcy) get to keep most or all of their personal belongings. The U.S. Bankruptcy Code, as well as the state of Georgia, carves out exemptions that can be used in Chapter 7 or 13 bankruptcies. Exemptions allow for your property and belongings to be protected through bankruptcy, up to a certain dollar amount. Exemptions are available for your home, car, personal belongings, retirement accounts, and other assets.

If something is “exempt,” it cannot be taken by your creditors or by the bankruptcy trustee to pay back your creditors. View a full list of Georgia exemptions here.

Note that if you file a joint bankruptcy with your spouse in Georgia, you can double the exemption amounts to protect even more of your assets and belongings. If you file for bankruptcy, nobody is coming to take all of your stuff.

 

Bankruptcy Myth 2: I will never be able to get a loan again.

After bankruptcy people are able to get loans, including car loans, mortgages, and lines of credit.

While bankruptcy does lower your credit score, many people find their credit score begins to recover fairly quickly out of bankruptcy. Prior to filing their credit was taking  a hit each month with late payments and increasing debt loads. After filing, they have little to no debt, making their debt to income ratio favorable. Which makes them a viable candidate for a loan or line of credit.

Filing for bankruptcy may temporarily limit your access to credit, or force you to pay higher interest rates for credit you do get. Though many of our clients find that the relief of getting out of debt far outweighs this concern.

 

Bankruptcy Myth 3: Paying off my debts is better than filing bankruptcy.

To be certain, filing for bankruptcy is a serious financial decision, but that does not mean it is a bad decision. If you can reasonably pay back your debts, then you should. But if you cannot reasonably pay back your debts in two years, then filing for bankruptcy may very well be the better option.

Bankruptcy stops harassing creditor phone calls, collection action, lawsuits, wage garnishments, and erases most debts. Bankruptcy brings relief and a fresh financial start.

 

Bankruptcy Myth 4: My financial future will be ruined by bankruptcy.

No, this is not true at all. For many people, filing for bankruptcy is a good decision for their financial future.

If paying back your debts will take years, and include massive amounts of interest, or late-payment penalties, then erasing debts with bankruptcy is a wise financial choice. Those years of payments can be directed to savings, investments, and retirements accounts, all of which better your financial future.

Also, most retirement accounts, including your 401(k), IRA, and other retirement accounts are protected in bankruptcy.

 

Bankruptcy Myth 5: Only failures file for bankruptcy.

Bankruptcy is a financial remedy, nothing more. It does not speak to your character, or your morals or ethics. Bankruptcy is your legal right. It does not mean that you are financially irresponsible.

Instead of viewing bankruptcy as a failure, we encourage you to see it for what it really is: a powerful tool that can help you take control of your finances.

 

We Offer Free Consultations

Meet with us for a free, no-obligation consultation. Call us at right now at (912) 351-9000, or email info@BrazielLaw.com. We are here to give you real information about your rights and how bankruptcy can help you.

We are proud to serve people in Savannah, Richmond Hill, Hinesville, Pooler, Port Wentworth, Tybee Island, Clyo, Ellabel, Midway, Springfield, Pembroke, Brooklet, Garden City, and Ludowici Georgia.

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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