Bankruptcy Myths

Going For Broke: Bankruptcy Fact And Bankruptcy Fiction

Because many Americans take financial responsibility as a matter of personal moral obligation, they are often embarrassed about discussing bankruptcy frankly.

This sense of shame can prompt people to settle for fuzzy bankruptcy folktales, and vague popular wisdom about bankruptcy, instead of painstakingly separating bankruptcy fact from bankruptcy fiction. The best bankruptcy attorneys know that their clients deserve nothing less than the truth about bankruptcy.

Like all truths, however, the truth about bankruptcy is not simple. But the truth about bankruptcy, as the finest bankruptcy lawyers know, sets you free to make the best possible decisions, and choose the best bankruptcy legal counsel, for your, and your family's, financial future.

Facing Facts: The Good News and Bad News That Bankruptcy Lawyers Know

Bankruptcy is a legal process, not a system of reward and punishment.

Hard facts analyzed by extensive American government studies show that even the most frugal, hardworking, fiscally responsible, American households cannot possibly predict and prepare for every possible financial crisis.

Millions of live-for-today free spenders, as well as millions of prudent budget-minders, are ambushed every year by a volatile job market and the unforeseeable costs of sudden catastrophic illness.

Bankruptcy has nothing to do with labeling people "good" or "bad," and everything to do with the non-judgmental simplicity of math.

Proof that bankruptcy is not an assessment of character is very easy to find. Often in as little as one month after debt discharge, many Americans are surprised to see their mailboxes filling with credit card offers.

Highly experienced bankruptcy attorneys tend to advise their clients to opt for a low-limit secured credit card, or one that requires a deposit, as an efficient way to rebuild credit. By taking care to make regular, timely payments on a secured card, people who have filed for bankruptcy can usually qualify for a regular non-secured credit card within six to twelve months.

Freedom Isn't Free: Bankruptcy Lawyers Stop Problems Before They Start

Although bankruptcy is not an indictment of character, and imposes no eternal punishments, bankruptcy law does not allow you to make an absolutely clean break with your past.

Bankruptcy law has zero tolerance for the sort of people who make a point of not seeking out the most well-respected bankruptcy attorneys because they plan to use bankruptcy as an opportunity for personal gain.

Without the tough-minded legal counsel of a client-oriented bankruptcy attorney, you might be tempted to wrongly assume that bankruptcy is a convenient way to avoid alimony or child support obligations, or get out of paying restitution for a criminal offense.

Without a highly respected bankruptcy lawyer's guidance, you might think it clever to max out your credit cards before filing for bankruptcy. But as the best bankruptcy attorneys have seen repeatedly, bankruptcy courts will find you guilty of fraud if you make any attempt whatsoever to use bankruptcy as a money-making tactic.

Healthy Choices: Top-Rated Bankruptcy Lawyers Know All of Bankruptcy's Fine Points

Because most Americans are honest and approach bankruptcy with an abundance of caution, they may not research bankruptcy law in the rigorous, thorough way that the most aggressive and ethical bankruptcy attorneys comb through it.

For the most highly rated bankruptcy lawyers, accurately assessing a client's case, and deciding whether Chapter 7 or Chapter 13, or another strategy, best suits a client, is only the beginning of what it means to offer the very best bankruptcy legal counsel.

By carefully identifying where bankruptcy law is most lenient, top-rated bankruptcy lawyers can show their clients how, for example, student loans may in some instances be forgiven, and the precise conditions under which tax debts might be reduced or removed.

A highly experienced bankruptcy attorney protects your rights, steers you away from hazards, and makes the bankruptcy process as easy as is legally permissible.

Take Charge of Your Future: Call the Law Offices of Michael S. Schwartz

Call 215-259-3685 for a free initial consultation that will demonstrate why Michael S. Schwartz has for over twenty years consistently earned the trust and respect of clients in Delaware County, Chester County, Bucks County, Philadelphia County, and Montgomery County. With offices in Perkasie, Havertown, and Southampton, Michael S. Schwartz is ready to show you what defines the very best bankruptcy and debt relief attorneys.