Bankruptcy Myths

Oaktree Law - Bankruptcy Defined: Los Angeles Bankruptcy Attorneys

Bankruptcy Myths

Bankruptcy is a hard decision to make and many people worry about the long-term effects and negative reputation that may come with a bankruptcy filing. The social stigmas of bankruptcy have diminished as the economy has forced many people into situations they never thought they would be in. While bankruptcy may not be the easiest decision it is often necessary to regain your financial independence and start fresh.

Get Answers from a Trusted Orange County Bankruptcy Attorney

There is no reason to struggle indefinitely with an untenable financial position: Oaktree Law attorneys can customize a bankruptcy plan for responsible debt relief that can help you regain your fiscal standing.  Our firm has been recognized by and 10 Best Debt because we listen to our clients and consistently protect their rights.

Contact us or call 800-535-1627 if you have questions about how bankruptcy can ease your financial burden.

The Truth About Bankruptcy

There are numerous questions that arise when considering bankruptcy. It’s important to know the facts when weighing your decision.  A Los Angeles bankruptcy lawyer from OakTree Law can help separate fact from fiction.

Does my income exclude me from bankruptcy?
Different chapters of bankruptcy suit different needs. Though more complex, a Chapter 7 bankruptcy and Chapter 13 bankruptcy can each offer different options for individuals. Each case must be examined and specially tailored to suit your specific needs.

Will everything I’ve worked for be liquidated?
Exemptions are made available for all bankruptcies. It is possible to keep significant assets.

What will others think of me?
The social stigma of bankruptcy has diminished as the economy has declined. Most people do not realize how many of their friends, neighbors and colleagues are in similar situations. Doing what is best for you and your family must come first.

Will I lose control of all my financial interests?
Like assets, many investments can be protected under bankruptcy. A fresh start doesn’t necessarily mean starting over.

Can my credit record ever recover?
You will have opportunities to rebuild your credit sooner than you think. Managed carefully, new loans can help. Like every other inquiry and account, your credit history will reflect the bankruptcy for 10 years at most, however depending on your financial situation your credit score may not take the financial hit you think it will.

Don’t wait: call our Los Angeles bankruptcy attorneys today!

Contact us or call 800-535-1627. You may be doing more damage to your credit by foregoing bankruptcy. We can help you understand the reality of debt relief.