Bankruptcy Lies and the Real Truth

Everyday I meet with people that do not understand bankruptcy. I hear many false statements.  If people understood the truth, they would run to file bankruptcy and get a fresh start.  Did you ever hear these?1. I can be put in jail if I don't pay.  No, if you stole property, that would be criminal. Suffering an illness, job loss, divorce or any other unfortunate event that caused you to fall behind on your bills will not land you in jail.  This is a complete lie!        2. My credit will be ruined forever (or 7 years or 10 years)!   No, in fact, after just two years, a person could qualify to buy a house!  Of course, you will need a steady job, good down payment, verifiable income and other things that go along with home ownership, but your credit is not ruined forever.  Truth: Bankruptcy can stay on your credit report for up to 10 years.  More Important Truth:  By adopting responsible credit habits, such as always paying your credit cards in full each month, paying all bills on time, never charging anything that you cannot pay in full that month, and not having too many lines of credit open at one time, a person can go from filing bankruptcy to having very good or excellent credit in as little as three years!  Banks and credit cards don't want you to know the truth because people that know the truth are educated and know their rights.  When you know your rights, you have power.  When you have power, you can take intelligent action and end your problems, in this case your financial problems.  That is the secret!  Banks, credit card companies and even debt consolidation companies spread lies and false statements to keep people from filing bankruptcy so that they can continue to make money, huge money off of other people's misery!  Don't want to be miserable...go see a bankruptcy attorney today! 3. Bankruptcy is evil (I will go to Hell if I file, It is a sin, It's not right, I am cheating the creditor).  Truth:  Bankruptcy's roots are found in the Bible!  Deuteronomy 15 states: 1) At the end of every seven years thou shalt make a release. 2) And this is the manner of the release: Every creditor that lendeth ought unto his neighbour shall release it; he shall not exact it of his neighbour, or of his brother; because it is called the LORD'S release.  So, if you read the Bible literally, a creditor is supposed to automatically cancel your debt every seven years!  Because our society is more concerned about money than it is God, Congress created a right of Bankruptcy.  Super Truth: Nowhere in the Bible does it permit credit card companies to charge 30% interest!  4. I am waiting until I figure out an answer.  Truth: Doing nothing solves nothing.  Nobody with a severe toothache would schedule an appointment with a dentist and not show up!  They have severe pain and want it to go away...FAST!  Well, bankruptcy attorneys can do that for you as well.  No matter what pain you are in, no matter how bad your situation, in almost all cases bankruptcy can get you a fresh start!  Even if you do not qualify for a total liquidation under Chapter 7 where all of your debts are discharged, experienced practitioners can help you restructure your debt in a Chapter 13, and in plain language, help get you some breathing room!5. I am doing what I have always done.  Albert Einstein once defined insanity as doing the same thing over and over and hoping for a different result.  Are you insane?  If you are avoiding the phone calls or working with debt consolidation companies charging high interest rates, and see no way out, you owe it to yourself to try something else!  Truth: If you are getting crushed by a mountain of debt and see no way to get out from under, an experienced bankruptcy attorney can take the weight off your shoulder and the pains and stress off your back and help you sleep comfortably at night!6. For a completely free, no obligation consultation, call (914) 937-7272, visit John Crane bankruptcy law firm or seek a bankruptcy attorney in your area!