Debunking Bankruptcy Myths And Misconceptions
After nearly 35 years of helping individuals and families in Binghamton and the surrounding New York communities navigate filing for bankruptcy, I have heard all the misconceptions and myths that people bring into my office.
How Does Bankruptcy Work? Turn To A Local Bankruptcy Practice Providing Information And Education.
I am Lauren S. Cohen, and as your attorney it’s my job to help you understand what you’re facing and take advantage of the legal resources at your disposal. This begins with an education regarding bankruptcy, its benefits and debunking the myths that keep many people from achieving meaningful financial relief.
Some common misconceptions I help correct include:
- I will be financially ruined after filing for bankruptcy: This is a common myth that doesn’t make a lot of sense when given some serious thought. Chances are, if you’re even considering filing for bankruptcy, you are in pretty dire financial straights. It’s important to understand that bankruptcy isn’t a punishment, it’s a tool for helping you get out from under your debt burden and restart your financial life. In a relatively short period of time after completing your bankruptcy, your credit will improve and financial opportunities will open to you.
- Bankruptcy is one of the most humiliating experiences I can go through: For many people, considering filing for bankruptcy is like publicly admitting failure. The truth is, there are numerous economic, social and familial factors that have left countless hardworking people struggling to keep up with their finances. At my office you are never judged. As your attorney, I will help you maintain your dignity and navigate the process as painlessly as possible.
- Obtaining help from a bankruptcy lawyer is just too expensive: It makes sense that some would question their ability to secure representation from an attorney. After all, when you’re struggling to make ends meet, paying for a lawyer may be relatively low on the totem poll of priorities. However, by reaching out to me, I’m confident that we can come up with a strategy for helping you achieve financial relief in a timely, cost-effective manner. In fact, during the bankruptcy process, a certain percentage of liquidated assets and other property will be set aside to cover creditor fees, legal expenses and other costs. In short, it makes good financial sense to reach out and learn more about how I can help you get out from under your debt burden.
There are numerous other myths and misconceptions out there regarding bankruptcy. The best method of obtaining clarity is by contacting an experienced attorney who can clearly explain your options and help you take action.
Your Resource For Achieving A Fresh Start Through Bankruptcy
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.