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Banishing Your Fears About Bankruptcy

Banishing Your Fears About Bankruptcy

baby-memeBankruptcy can seem very intimidating to most people, and the average person has a number of misconceptions about the bankruptcy process. Here are the top 3 misconceptions that we hear from clients:

  • Bankruptcy lowers my credit score
    • FALSE – In many instances, clients see an increase in their credit score within the 12 months after filing. At your retainer appointment, we pull a comprehensive credit report from all three credit reporting agencies.
  • Lenders are less likely to work with me after filing
    • FALSE – in a Ch 7 bankruptcy, most or all of your debt is wiped out resulting in your debt to income ratio looking a lot better. Lenders also know that you can’t file another Ch 7 bankruptcy for another eight years. Both of these factors make you look like a better risk to lenders. Many of our clients receive credit card offers and car loan offers in the mail shortly after filing.
  • I’m going to lose my home/car/possessions, when i file
    • FALSE again! – there are a number of exemptions that can be used to protect your assets including your home, car, retirement savings, coin collection, etc. We go over all of this at your free consultation!

Best of all and most importantly, we’ve witnessed firsthand how bankruptcy can relieve mountains of stress resulting in happier, and mentally healthier individuals. We are committed to making the bankruptcy process as stress free and efficient as possible. Contact us today for a free consultation!

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See What Our Customers Have to Say!

Our Client Testimonials

From our first meeting and throughout, Fair Fee Legal Services has been extremely helpful, knowledgeable and prompt. The prices are very reasonable, and the locations are easily accessible. We would recommend Ballstaedt every time!

Kat E. Actual Client

The professionalism and competence displayed by Lori Draper in dealing with me and my wife is rare in this day and time, where businesses treat clients as commodities rather than people. Lori has exceptional people skills and works diligently to make clients fell that they are the most important thing her agenda. Lori is prompt, timely and professional, which creates an atmosphere of trust and makes clients want to recommend the Fair Fee Legal Services to others. Employees like Lori Draper is an asset a company should be proud of representing them

Lawrence B. Actual Client

Harlene July 2010 – I had put off filling for a while. I was kind of afraid of the unfamilar. The staff was amazing, and made me feel good about what I needed to do. Seth, was right to the point and got things handled. I am very pleased.

Harlene H. Actual Client