People who are considering
bankruptcy have heard every myth
in the book. Several follow.
| 21. After I file bankruptcy I will never
be able to get credit again. |
|
No. Your ability to obtain new credit will
depend on many factors, the most important of which will be your ability
to repay your new loans. The lender will compare your income at that
time with your expenses and debts. |
|
| 22. Someone will come to my home and snoop
around. |
|
No. |
|
| 23. I will lose custody of my children. |
|
No. |
|
| 24. I will be fired at work. |
|
No, federal law prohibits it. |
|
| 17. My home is owned by my mother. She lets me rent it. Will she lose it? |
|
As long as she really owns the house and
there was no transfer in the last three years, she will keep it. |
|
| 25. I will lose my drivers license/ truckers
license/ medical license, CPA license, etc. |
|
No. federal law prohibits it. Review the
Debtor’s Acknowledgment for specifics. |
|
| 26. I will spend years in court. |
|
No. You will probably never see a real
court room nor a judge. The whole procedure only takes about 4 or
5 months. |
|
| 27. There are going to be surprises. |
|
No. |
Full and Honest Disclosure>
