Bankruptcy Myth 3: You Will Lose Everything You Have

Over the years, I have learned that there is a lot of misinformation circulating about bankruptcy. Much of the information is good and gives fair description of how a bankruptcy filing may impact you. However, there is a lot of misinformation or simply untrue information about bankruptcy. If the next several blogs, I will deal with a number of these myths people may read about filing bankruptcy.

Bankruptcy Myth 3: You Will Lose Everything You Have.

FACT: Most chapter 7 filers don’t lose anything. In a chapter 13 we can catch up missed house and car payments over 60 months so you can keep your house and car. In every bankruptcy case, there are certain laws that allow you to keep the property you own. Very rarely does anyone lose property if their bankruptcy is prepared correctly.

To learn more about your options please contact The Pritchard Law Firm at (817) 285-8017 to set a free appointment to learn which option is best in your circumstance. Do not spend another sleepless night worrying about what you are going to do, contact The Pritchard Law Firm today and sleep better tonight.