Harris County GA Bankruptcy law firm – Bankruptcy Facts

Harris County GA Bankruptcy law firm – Bankruptcy Facts

Bankruptcy myths in Harris County Georgia

EMPLOYERS WONT EMPLOY YOU AND YOU WONT BE ABLE TO LEASE A HOME IF YOU FILE BANKRUPTCY

This is incorrect. Employers do not like to have workers that will be contacted by creditors and their collection agencies at the office or at home, as then the worker is unfocused and anxious about their financial situation. Nor does the employer want to deal with the additional accounting caused by wage executions. Also, landlords prefer tenants who can use their salary to pay rent, not those paying off debts instead.

BEFORE FILING, YOU MIGHT AS WELL USE YOUR CREDIT CARDS TO THE MAXIMUM.

This is again false. All large purchases of more than $550 for luxury goods bought within 90 days prior to filing and cash advances of $825 within 70 days before filing will not be discharged. This type of activity could result in criminal charges against you. Bankruptcy is not meant as a way to deceive creditors but for the debtor who is trying to get a new beginning.

YOU SHOULD DO EVERYTHING YOU CAN TO NOT FILE BANKRUPTCY; INCLUDING LIQUIDATING ACCOUNTS

Once again, this is not true. Retirement funds are one of the untouchables, meaning they are untouched in bankruptcy. If you decide to draw upon your retirement funds prematurely to pay creditors, you will face taxes and penalties on those retirement withdrawals, by the IRS, if you do not repay. You should talk to a bankruptcy attorney to determine what assets of yours will be exempt in a bankruptcy filing.

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