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
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.
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.