Bankruptcy is a complicated process and many people have misconceptions about it. Due to which people hold themselves back from filling bankruptcy. But in reality bankruptcy is the best debt relief option.

1. MOST COMMON MYTHS ABOUT BANKRUPTCY

2. Bankruptcy is a complicated process and many people have misconceptions
about it. Due to which people hold themselves back from filling bankruptcy. But
in reality bankruptcy is the best debt relief option.You just need to put little a bit
of extra effort so that you can understand the process of bankruptcy and take
the benefits. Here we will discuss the most common myths and try to
understand the facts of bankruptcy as outlined by Brian Linnekens which will
underline the statement that bankruptcy is not such a tough process.
It is a difficult process
In bankruptcy there are many rules due to which it seems a difficult process. But
according to Brian Linnekens with the help of proper assistance from an
experienced attorney you can take the benefits of bankruptcy.The attorney you
hire to file for bankruptcy has all the rules in the back of his mind and in the
various books that he is going to consult over a period of time which of course
will make it a cake walk for you provided you follow every advice in letter and
spirit offered by your bankruptcy attorney.

3. Filing for bankruptcy will show that you are a bad person
Many people have an assumption that if you are filing for bankruptcy you will be
shown in bad light to the world. But the fact is that by fling you are using your
constitutional rights so that you can regain control over your finances.
It’s not only you who are facing financial crisis, lot of people around you going
through the same situation and the reason can be any – medical emergencies, loss
in business and downturns in economy due to which they cannot pay their debts on
time. And under such circumstances if you are filing for bankruptcy you are securing
yourself as well as your family members.
After filing for bankruptcy you will never won anything
This is the most common myth about bankruptcy, but this is completely wrong. In
actual this will give everyone an opportunity for a fresh start, you can own all new
properties like you have owned before filing. For that you need to receive your
discharge in bankruptcy.
Your family will be in trouble if you are filing for the bankruptcy
Many people believe that if they are filing for bankruptcy there will be a problem in
the family and the family members will have to face the situation of separation or
divorce.

4. We know every family is different but the fact is completely opposite of it, once you
decide to file for bankruptcy you can handle your family in a better way. Since by filing
you have taken some action so that you can regain control over your finance.
Creditor will still harass you and your families even after you file for bankruptcy
After filing for the bankruptcy court orders an automatic stay so that creditors will not
contact you in any way. With this stay in place creditors are not allowed to call and text
you. If in any condition the creditors violate the court orders then he/ she will be
penalized but there are rare chances of them to do so.
Your credits will ruin for 10 years
These are two different concepts which make the confusion.This is a fact that after
filing for bankruptcy it will be visible on your credit report for 10 years, but the credit
will not be damaged for the same time period. Mostly before filing for bankruptcy you
damage all your credit as you are not able to pay your bills or debts on time. And after
filing you start paying bills on times and slowly start rebuilding the credit. By doing this
you can rebuild your credits within two to five years. And you come out clean from
your bankruptcy there are chances that financial institutions will use their
discretionary powers and provide you credit for the time you are looking for.
Article Resource - http://www.brianlinnekens.net/most-common-myths-about-
bankruptcy/