The 5 Myths About Filing Bankruptcy

Bankruptcy is a tool to rebuild wealth. However, there are several misconceptions and stigmas around filing. ❌ MYTH 1: Only deadbeats file bankruptcy. ✅ TRUTH: Bad things happen to good people (medical bills, job loss, divorce, etc.) and bankruptcy is a business decision to rebuild your financial future. ❌ MYTH 2: You lose everything if you file. ✅ TRUTH: The bankruptcy code provides numerous exemptions, allowing you to keep your property. ❌ MYTH 3: Everyone will know you filed bankruptcy. ✅ TRUTH: Although bankruptcy is a public record, most people will never know you filed unless you’re a public figure or major corporation. ❌ MYTH 4: Filing bankruptcy will destroy your credit. ✅ TRUTH: Bankruptcy wipes away bad debt, allowing you to take on new debt and rebuild your credit over time. ❌ MYTH 5: Filing bankruptcy will not impact your back taxes. ✅ TRUTH: Taxes from 3+ years ago may be eligible to be discharged. . . . . . #bankruptcy #creditrepair #studentloans #creditscore #credit #badcredit #debt #creditrestoration #creditrepairservices #collections #goodcredit #medicalbills #debtfree #fixmycredit #creditgoals #financialfreedom #credittips #fixyourcredit #realestate #chargeoffs #atlanta #credithelp #business #creditcard #money #ficoscore #creditmatters #finance #attorney #bhfypWe are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.