Common Bankruptcy Myths

Bankruptcy Lawyer in Michigan

There are many myths surrounding bankruptcy that can deter a person from considering this tool as a remedy to their debt problems. Some of the more common falsehoods include:

If you are married, you must file a joint petition.

  • A person that is married has the option of filing their own petition, or filing with their spouse.

You will lose all of your assets in a Chapter 7.

  • Only non-exempt assets are liquidated in a Chapter 7. A Michigan bankruptcy attorney can explain the laws that pertain to non-exempt property and determine which of your assets you will be allowed to keep.

You cannot have credit after bankruptcy.

  • It may take time, but you will eventually be able to improve your credit score and regain your credit standing. You can start rebuilding your credit as soon as your bankruptcy case has been concluded.

Taxes can never be discharged in a bankruptcy.

  • Under certain circumstances, taxes more than 3 years old can be discharged in both a Chapter 7 and Chapter 13.

You must have a minimum amount of debt to file.

  • There is no legal criterion for the amount of debt you must have in order to file for bankruptcy.

My firm, Hensel Law Office, PLLC has many years of experience providing financial help to clients burdened by debts in areas such as Madison Heights, Royal Oak, Sterling Heights, Clinton Township, and Warren. As a Michigan bankruptcy lawyer, I can answer all of your bankruptcy questions and make sure you have accurate information regarding the process and how it will affect your future.

Bankruptcy Protection

When I founded my firm, I wanted to provide my clients with the attention their situation deserved and superior customer service. Large firms will often have clients meet with different attorneys knowledgeable in a particular area of bankruptcy law. Your case may even be delegated to a paralegal. I service all of my clients directly, and counsel them following their bankruptcy to make sure they are getting all of the benefits bankruptcy has to offer. I also offer a free initial consultation, affordable rates and payment plans, so do not hesitate to contact the firm today.