Monroe NC Lawyer
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Bankruptcy Myths

Facts vs myths balancing
1.     Myth: The 2005 Bankruptcy law overhaul eliminated the “no payment” Chapter 7 option.
        Fact: Although there are more hoops to jump through the “no payment” Chapter 7 still exists.

2.     Myth: If I file bankruptcy I will lose my house, car, and retirement.
        Fact: Most Bankruptcy clients lose nothing except their debts.

3.     Myth: The Court will come to my house and look around.
        Fact: The Court almost never visits your house.

4.     Myth: Everyone will find out when I file bankruptcy.
        Fact: Filing bankruptcy is public record, but newspapers generally do not publish a list. 

5.     Myth: If I file bankruptcy I will not be able to get credit again.
        Fact: Many bankruptcy filers are able to get an unsecured credit card shortly after filing.

6.     Myth: My creditors will be at my bankruptcy meeting.
        Fact: Creditors rarely attend creditor meetings. 

7.     Myth: I will be fired if I file bankruptcy.
        Fact: Employers are not allowed to fire you simply because you filed bankruptcy.

8.     Myth: If I file bankruptcy, my spouse has to file with me.
        Fact: Your spouse does not have to file bankruptcy with you.

9.     Myth: My debts can’t or won’t be discharged.
        Fact: Most debts except student loans, recent tax debt, debts incurred via fraud, and domestic support obligations are discharged in bankruptcy.

10.  Myth: My creditors will continue to harass me after filing bankruptcy.
        Fact: Creditors can be sanctioned by the Court for attempting to collect discharged debt.
*11 U.S.C. 528(a)(4) NOTICE. We are a debt relief agency. We help people file for bankruptcy relief under the federal Bankruptcy Code.
Monroe Office:
​110 E Jefferson St.
Monroe, NC 28112

(704) 493-6851​

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Contact us
  • Home
  • Firm Info
    • Contact Us >
      • Directions to Monroe office
    • Attorney Profiles >
      • Jason D. Witt
    • Fee Schedule
  • Family Law
    • Child Custody
    • Child Support
    • Divorce
    • Property Division
    • Alimony and Post-Separation Support
    • Separation Agreements
    • Domestic Violence Protective Order
  • Criminal Law
    • Traffic/DWI >
      • Traffic Tickets
      • Suspended or Revoked License
      • Driving While Impaired
    • Misdemeanors
    • Felonies
    • Expungements
  • Other Areas
    • Bankruptcy Law >
      • Personal Bankruptcy
      • Chapter 7 vs. 13
      • Bankruptcy Myths
      • NC Bankruptcy Exemptions
      • Bankruptcy Means Test
      • Bankruptcy Disclaimer
    • Debt Settlement
    • Foreclosure Defense
  • Blog