An Efficient Bankruptcy Lawyer Can Help You Understand the Myths about Bankruptcy
Are constantly mounting debts taking away your peace of mind? Then perhaps you should consider filing a bankruptcy claim with the help of a skilled bankruptcy lawyer. This is one of the best ways to put an end to your increasing debts. Well, most of the times, people avoid filing a bankruptcy claim because they think that it will put a black mark on their reputation. However, this is a complete myth. Not only this, there are many other myths related to it. Going through this article will make you familiar with them.
Even if you file for insolvency, your creditors will continue harassing you and your family:
This is completely incorrect! The moment you file for bankruptcy, you get an automatic stay order from court. It puts a hold on your debts as well as attempts of your creditors to get back the money you borrowed. Many people say that even after getting an automatic stay, creditors won’t stop their harassments. However, the reality is not the same. If your creditor continues harassing you for getting the money he owed to you even after you filed an insolvency claim, he would be punished by law for violating bankruptcy code.
If you file for insolvency, the trustee may seize all your assets:
This is also a complete myth. Though a trustee can seize and sell your assets (by court order), he cannot do it just like that. This is because, there are certain factors that need to be evaluated before he attempts to seize or sell your properties. Otherwise, the trustee will also be charged for violating bankruptcy code. So, just relax! Your lawyer will take care of it, and inform you time to time.
If you file for bankruptcy once, you won’t be able to file it again:
This is also a myth! Filing for a bankruptcy claim once, does not mean that you cannot file it again. In fact according to the bankruptcy code, you are allowed to file for insolvency more than once. There are many other myths about this kind of legal procedure. If you have heard any of those, feel free to consult your bankruptcy lawyer for information regarding the same.
These are some of the most common myths related to bankruptcy. That is why, you should not rely on what other people say and get in touch with a bankruptcy lawyer. Silver Spring is one of those places of Maryland, where you will find many law firms staffing some of the highly educated and skilled lawyers offering effective legal advices. So, do not wait anymore and find a legal professional to guide you through the complicated courtroom proceedings and help you get relief from your outstanding debts.