Bankruptcy Myths vs. Bankruptcy Facts

Putting a Stop to Misleading Information About the Bankruptcy Process

There are a lot of myths and misconceptions about bankruptcy, mostly because creditors write misleading information on the Internet in the hope of stopping people from filing bankruptcy. Don't believe everything you read on the Internet. An experienced bankruptcy lawyer can give you accurate information.

At the law firm of Gingold & Gingold LLC, our Atlanta bankruptcy attorneys — Ira D. Gingold, who has been a bankruptcy lawyer since 1971 and Court-appointed Bankruptcy Trustee from 1971-2013, and Jamie L. Gingold, who has been practicing bankruptcy, business and real estate law since 2001 — are committed to putting a stop to bankruptcy myths such as the following:

  • I'm going to lose all my property: No, you will not. Our attorneys can use Georgia's homestead exemption law to protect your home, car and other assets so that neither your creditors nor the bankruptcy trustee can take them from you to repay your debts.
  • My debts cannot be wiped out: Under the right circumstances, almost any type of debt can be discharged (wiped out) in bankruptcy. You should talk to a lawyer about your specific situation.
  • I'm going to go to jail: Our experienced bankruptcy lawyers will carefully prepare your bankruptcy petition so that nobody will accuse you of committing bankruptcy fraud or any other crime.
  • My creditors will sue me for filing bankruptcy: Once you file bankruptcy, your creditors cannot sue you, and all existing creditor lawsuits are stopped. Once you get a discharge that wipes out your debts, you no longer owe these debts, and your creditors cannot sue you.
  • Filing bankruptcy will ruin my credit: If you have fallen behind on your debts, your credit has almost certainly already been harmed. Until you file bankruptcy, it will only get worse. Once you receive a bankruptcy discharge, you can get started on rebuilding your credit.

Contact Our Atlanta Bankruptcy Lawyers for a Free Consultation

These are just a few common myths about bankruptcy. Our attorneys can calm your fears with accurate facts and personalized advice. For a free consultation, call us at (404) 685-8800 or e-mail us today. We have offices in Atlanta, Cumming, Dallas, Douglasville, and Duluth, with evening and weekend appointments available.