Bankruptcy Myths & Facts

You can still:

• Save your house!
• Stop repossession of your car!
• Stop tax levies!
• Stop wage garnishments!
• Stop lawsuits and judgments!
• Get your finances back on track!
• Protect your assets!

Wisconsin Bankruptcy:

Common Myths and the Facts You Need to Know

We want you to have the facts. You may be trying to avoid bankruptcy when it is actually the right step for you. Contact our Milwaukee office to arrange a consultation with one of our lawyers about bankruptcy alternatives.

Myth #1: Bankruptcy is no longer available since Congress changed the laws in October of 2005.

Fact: You are just as likely to qualify for Chapter 7 or Chapter 13 bankruptcy relief today as you were before the new laws were passed. Bankruptcy is available and affordable to the average debtor.

Myth #2: If I file bankruptcy, I'll never get credit again.

Fact: After bankruptcy proceedings are over, you start with a clean slate. At Green & Kapsos Law Offices, L.L.C., our clients have told us that they have gotten offers of credit in the form of credit cards, car loans, and mortgage refinance loans soon after the bankruptcy is completed.

Myth #3: Bankruptcy is shameful and everyone will find out I filed.

Fact: For many people, bankruptcy is the smart thing to do. Unless you are a famous person, few people will hear about your bankruptcy. Those who do should realize you are taking a responsible step to rebuild your financial life.

Myth #4: Bankruptcy is a difficult process.

Fact: Acutally filing a bankruptcy is like going to the dentist for the first time. You my be nervous and fearful about the process. You may even think it will be painful, but just like a dental visit, once you go through the bankruptcy process with our office, you will feel relief. You will realize that our steamlined procedures have been designed to make your bankruptcy filing as quick and painless as possible, and you will have a gresh start!

Myth #5: I filed bankruptcy before, so I cannot file again.

Fact: A Chapter 13 bankruptcy may be filed as often as you need to. If you filed a Chapter 7 bankruptcy, you must wait eight years to file another Chapter 7, but you may still file a Chapter 13.

Myth # 6: If I file bankruptcy, I will lose everything I own.

Fact: The bankruptcy code is meant to protect debtors by managing their debts and assets. Our lawyers can save your house, your car, important personal property, and tools you need for business. Contact our Milwaukee, Wisconsin, bankruptcy attorneys to make arrangements for a free consultation, and find out what we can do for you.