Bankruptcy Myths and Bankruptcy Facts
Much of the information we hear about filing for bankruptcy is wrong. At The Troglin Firm in North Atlanta, we offer a free lawyer consultation to give you the right answers.
William "Mike" Troglin is a bankruptcy attorney with more than 28 years of experience. Here are some of the common bankruptcy myths and Mr. Troglin's answers:
Filing For Bankruptcy Will Ruin My Credit
Filing for bankruptcy is actually a solution to a credit problem that was already there. Once your debts are discharged, your credit will start to improve as long you can pay your bills.
If I File Bankruptcy, I'll Never Be Able to Get Credit Again
Filing bankruptcy does not carry the stigma it once did. Once your debts are discharged, you can get a home mortgage loan after two years, as long as you pay new debts on time and otherwise qualify.
You can get a car loan as soon as your debts are discharged, although we wouldn't recommend it unless you really need a car.
Debt Settlement or Consolidation Is an Alternative to Filing Bankruptcy
There may be situations where we can avoid filing bankruptcy by working out an arrangement with your creditors. But filing for bankruptcy is usually a better option for two reasons:
- If you have more than one creditor, you will need all of your creditors to go along with the debt settlement. The more creditors you have, the more difficult this is to do.
- In a debt settlement, creditors require payment upfront. Many people with serious debt problems can't afford to do this.
I Will Lose My Home if I File For Bankruptcy
Filing bankruptcy can help you save your home or your equity in it. Learn more about bankruptcy and home foreclosure.
Free Attorney Consultation
Your initial consultation is always free at The Troglin Firm. To schedule an appointment with lawyer William M. Troglin, call 678-894-2931 (877-839-9186 toll free) or fill out the contact form on this site. We are located in the Oak Lake Office Center in North Atlanta.
