Bankruptcy Myths

Bankruptcy Attorney in Nevada

If you are considering bankruptcy or will not consider it because of what you have heard from others, you should know that there is a lot of false information spread about bankruptcy.  It is best to speak with a Nevada bankruptcy attorney before you decide not to pursue bankruptcy if you are in financial trouble.  With the right knowledge you can make the most beneficial decision about your future.

Myth: all of your debts will be eliminated.

There are a number of debts that will be discharged with Chapter 7 bankruptcy; however, all debts will not be eliminated with Chapter 7.  The types of debts that will still be active include: alimony, student loans, child support, and any debt that was incurred through illegal activity.

Myth: I will not be able to purchase a home if I file for bankruptcy.

Most people that file for bankruptcy are able to buy a home within a period of a few years after going through the process.  To purchase a car the amount of time can be even less than two years.

Myth: If I file for Bankruptcy I will no longer have a house or car.

Just because you file for bankruptcy does not mean that you must give up owning your house or vehicle.  Many people that could benefit greatly from bankruptcy do not because they are concerned about losing their home.  The fact is that you can keep your home and your car.  In addition you will be able to keep your personal possessions such as clothing, household goods and retirement money.  To understand fully what you will be allowed to retain, you should speak with a skilled attorney from our firm. 

At Price Law Group we have assisted many clients to overcome their financial worries with the bankruptcy process.

Contact a Nevada Bankruptcy Attorney today if you would like to discover the truth about bankruptcy.