Bankruptcy Myths

Bankruptcy can be daunting — especially when you have heard stories about the process that are not true. We understand how stressful your overwhelming debt can make you feel, and our team at Freeburg Law Firm, LPA, is ready to help you put an end to your financial woes.

Our Ohio bankruptcy law firm is managed by founding lawyer Toni Freeburg. Offering more than a decade of quality legal experience skillfully handling hundreds of cases involving bankruptcy, foreclosure defense and debt negotiation, our attorney is prepared to help you understand bankruptcy.

Learn The Truth About Chapter 7 And Chapter 13 Bankruptcy

We have compiled a list of common misconceptions our clients have had about bankruptcy, and we want to share them with you so that you can make a well-informed and purposeful decision about your debt relief:

  • If I file for bankruptcy, I can't keep my house or car | Realistically, those who file for Chapter 7 bankruptcy, as well as Chapter 13 bankruptcy are often able to keep all of their valuable possession, including homes, cars and other assets. There are exemptions in bankruptcy that protect your personal belongings. Our firm can help you understand how filing for bankruptcy will affect your property and assets.
  • I can't file for Chapter 7 because they don't allow it anymore | Untrue. People file for bankruptcy every single day. When you call our office, you can schedule a consultation to sit down with our lawyer and discuss whether you qualify and what is the best chapter of bankruptcy for your situation.
  • I will never get credit again or be able to by a car or a house | In reality, most people can get a car as soon as their debts have been discharged through bankruptcy. In addition, many people can get a mortgage loan in approximately three years after bankruptcy, depending on his or her circumstances. What you do after your bankruptcy has concluded will truly determine your credit, not just the fact that you have filed for bankruptcy in your lifetime.
  • I will have to pay back all my creditors if I file for bankruptcy | No. In Chapter 7 bankruptcy, most debts are discharged, including credit card bills, medical expenses, mortgage loans and other debt. In a Chapter 13 bankruptcy, you can pay anything from 0-100 percent of your debt to your creditors, depending on your circumstances.
  • I can pick and choose which debts to include in my bankruptcy | Unfortunately, bankruptcy is not like a buffet. There is a specific list of debts that you can and cannot discharge under the Bankruptcy Code, however all debts must be included in the petition. We can help you understand how the laws apply to your circumstances.
  • If I am married, I have to file together with my spouse | In truth, you can file individually or jointly in bankruptcy cases. Our team will work with you to help you understand what would be the most beneficial course of legal action for you and your family.

Contact Our Cleveland Personal Bankruptcy Attorney Today

We invite you to contact Freeburg Law Firm, LPA, at 440-942-4003 or toll free at 800-637-6308 for a free initial consultation regarding your bankruptcy and debt relief needs. Our law office is located in Mayfield Village, Ohio. Our business hours are Monday through Friday from 9 a.m. to 5 p.m. Evening and weekend appointments available by request.