More Whole-Truths About Bankruptcy in Indiana

March 26, 2013 10:05 pm Published by

With so many half-truths and myths circulating about bankruptcy, I think it’s important to shed some light on the matter and expose some of the misinformation about the way Indiana bankruptcy law really works. Often, there’s just enough truth that is mixed in with the falsehood to make the typical myth becomes all too easy to believe.

I think every good bankruptcy attorney in Indiana would agree that the most harmful myth of all is the one about “only deadbeats file bankruptcy” Reality is, most people who come to the five Zuckerberg bankruptcy law offices are good, hard-working people who had been responsibly handling their affairs their whole lives. Then some life-altering experience happened, usually a job loss, failure of a small business, a serious illness, or sometimes a bitter divorce.

Both Indiana bankruptcy Chapter 7 and Chapter 13 individual bankruptcy law were put into place as safety nets when individuals reach the end of their financial “rope”. In fact, the whole point of my work, which is offering Indiana debt help, is that while life can be brutal, bankruptcy is not. Are there other choices besides bankruptcy?  Yes, of course, and, as a debt consolidation lawyer, I help my clients explore all the options.  The irony, though, is that sometimes people have heard so much false and misleading information about bankruptcy, that they put off facing financial decisions for so long that they lose the opportunity to make use of those other choices!

A second big myth that keeps people procrastinating too long is that filing personal bankruptcy means you won’t be able to borrow any money for ten long years.  Again, a dab of truth within a sea of falsehood.  Yes, a Chapter 13 bankruptcy will show up on your credit report for ten years, but that doesn’t mean you can’t get credit! Truth is, as my Columbus bankruptcy lawyer colleague likes to point out, not only is it possible to get credit after filing bankruptcy, you’ll probably find it easier to do than it was in the months leading up to the bankruptcy!

Again, it’s just too bad that the false “half” of the myth or half-truth keeps people from moving forward with their lives and using Indiana bankruptcy law as their ticket to a fresh financial start.
 

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This post was written by Mark Zuckerberg

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