Myths About Bankruptcy in Richmond

Let Our Richmond Bankruptcy Attorney Dispel These Myths

Thousands of people file bankruptcy every year due to financial hardships. Unfortunately, because of the sometimes unjustified negative connotation associated with filing bankruptcy, many people who could benefit from bankruptcy may tend to shy away. This is because there are a number of unfounded myths surrounding bankruptcy which have been perpetuated over the years. Our Richmond bankruptcy attorney, Bruce W. White, is here to help shed light on these myths.

Bankruptcy Myths

  • If you have a good job you will be unable to file bankruptcy - Not True!
    -- Although there are financial criteria that a person who intends to file bankruptcy must meet, a good majority of people who are gainfully employed qualify to file bankruptcy.
  • A married couple has to file a joint bankruptcy - Not True!
  • --  Married couples do have the option to file together, but a joint filing is not mandatory. We advise you to consult our experienced Richmond bankruptcy attorney to decide which filing option would be best for your situation.
  • Only people who are Not  financially careless file bankruptcy -Not True!
    --  While managing your money could be considered a skill, the notion that only the financially irresponsible file bankruptcy is simply untrue. A large percentage of bankruptcies stem from illness and death, divorce, and other catastrophic life situations that cannot be predicted or prevented.
  • All debts can be discharged - Not True!
  • -- There are many debts that cannot be discharged through a bankruptcy filing.  Debts such as student loans, some federal and state taxes, are generally ineligible to be eliminated through bankruptcy. But once again, you should contact our Richmond bankruptcy attorney to discuss your individual case.
  • Bankruptcy will damage your credit permanently -Not True!
  • --  Filing bankruptcy may cause your credit score to drop, but it is certainly not permanent.  Many people who file bankruptcy are able to regain a high credit status after a few years.

Consult a Skilled Attorney

Here at the law office of Bruce W. White, P.C, we are proud to say that we have helped hundreds of local residents start their financial lives over. Our Richmond bankruptcy lawyer is eager to assist you.

Contact us today for a free, no-obligation consultation and learn what we can do for you. We can be reached at (804) 288-4328.

Contact me Today

Bruce White Law is committed to answering your questions about bankruptcy law issues in Richmond Virginia.

We'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.

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