Bankruptcy Myths

The Truth About Bankruptcy

Education is the key to making any decision. At the law firm of Bryan P. Keenan & Associates in Pittsburgh, Pennsylvania, we understand bankruptcy laws. We are dedicated to providing you with the education you need to make an informed decision about filing Chapter 7 or Chapter 13 bankruptcy.

We would like to start the education process by dispelling the following five bankruptcy myths:

Myth #1: You will lose all your property

This is simply not true. In fact, bankruptcy laws can be a valuable tool for stopping foreclosure, stopping repossession and keeping your property.

Myth #2: Your credit will be ruined

If you are considering bankruptcy, most likely your credit is already severely damaged. Filing bankruptcy is actually the first step in rebuilding your credit.

Myth #3: Most people don't qualify for bankruptcy

New bankruptcy laws that have been passed within the last few years have caused many people to believe that the doors are closed. This is definitely not the case.

Myth #4: Only irresponsible people file for bankruptcy

This is simply nonsense. In reality, the majority of people who file for bankruptcy have encountered an unexpected event, such as job loss, a medical emergency or divorce.

Myth #5: Bankruptcy is the last resort

Instead of using bankruptcy laws for their benefit, many people first turn to other options, such as cashing in retirement accounts, borrowing from one credit card to pay off another, or taking out a second mortgage. These options often cause much more harm than good. For most, filing bankruptcy is the better choice.

What Else Have You Heard About Bankruptcy?

Our law firm is here to clear up any misconceptions you may have about bankruptcy. You have the right to get answers directly from an attorney who understands the law. We want to educate you.

When you choose us, you can be certain that we will provide you with an honest assessment of your options. The guidance we provide will be personalized for your situation and in your best interest.

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E-mail us or call us at 1-866-753-6857 to talk to an experienced bankruptcy lawyer.