The internet has ushered in the age of information – and misinformation. In 2013, more bankruptcy myths have popped up than ever before. Despite the ability to fact check online or with a Dallas bankruptcy attorney, many people still fall for these bankruptcy myths, making their financial lives more difficult in the process. By understanding the truth behind filing for bankruptcy, you’ll be one step closer to getting your financial life back on track.
3 Bankruptcy Myths
Discharging your debts isn’t as terrifying as these bankruptcy myths make you think. It’s a relatively straightforward process, especially when working with a bankruptcy attorney, with the potential to change your entire life. Don’t let unfounded bankruptcy myths discourage you from seeking the relief that you deserve. Some of the most common falsehoods include:
- Bankruptcy will affect your professional life. Many people are worried that they’ll either lose their job or won’t be able to get a job after filing for bankruptcy. While employers or potential employers might sometimes check your credit, they rarely get the complete report. Remember, the credit check only reveals your score and firing someone simply because of a bankruptcy is illegal.
- I’ll no longer have access to health care. Those struggling with medical debt are afraid that their doctor will refuse to see them if they discharge that debt. This is one of those bankruptcy myths that preys on a plausible scenario but is highly unlikely to be true. If you discharge your medical debt, chances are that your doctor will simply ask you to pay upfront the next time you visit.
- My bankruptcy will ruin my spouse’s credit. While married couples often have joint financial accounts, you’re not required to file a joint bankruptcy. Remember, the debt is likely only in one spouse’s name, so only that spouse needs to meet with a bankruptcy attorney and file to discharge his or her debt.
While these are some of the most common bankruptcy myths, they’re not the only ones. Meet with a bankruptcy attorney to clarify any questions you might have.