Houston Bankruptcy Attorneys

Bankruptcy Myths

At Mills & Henshaw, our lawyers are dedicated to helping clients thoroughly understand the bankruptcy process, their legal rights and their options in restructuring or discharging their debt. When you meet with a Houston bankruptcy lawyer at our firm, we will take the time to answer your questions, review your particular situation and address your concerns in order to help you make the right decision for your financial future.

There are a number of myths about bankruptcy, and we have identified several of these on this page:

• Myth: Everyone will know that I filed for bankruptcy, and my reputation will be ruined!
  Fact: Unless you are a celebrity or well-known persona and the media discovers you have filed, it is highly doubtful that anyone except your creditors will know that you have filed for bankruptcy. Bankruptcy is a public proceeding, but there are countless cases at any given time and it is extremely rare that a case will be picked up and made public.
• Myth: I will lose all of my assets and property.
  Fact: There is specific property, including your home, which may be protected even if you file for bankruptcy. By consulting an attorney, you can find out what property may be protected.
• Myth: I will never be able to restore my good credit again.
  Fact: Although it may take time, you will be able to build your credit again. In fact, you will probably receive credit card offers in no time, and if you are careful and use these sparingly, paying off balances immediately, you can begin to build your credit. A lawyer can help you understand what life after bankruptcy will be like and what to expect.
• Myth: Both spouses have to file for bankruptcy, if you’re married.
  Fact: If you are married, you and your spouse do not have to file jointly. It is possible that one spouse may have a great deal of debt in his or her name and the other will not. Depending upon your particular situation, it may be better for you alone to file, or it may be better to file jointly. An attorney can help you understand the repercussions of either filing separately or jointly.
• Myth: Only irresponsible, lazy people file for bankruptcy.
  Fact: This is simply just not the case. Good, honest and hard-working people often find themselves in situations where they need to file for bankruptcy. A divorce, unforeseen medical condition or lost job can lead to overwhelming debt and then bankruptcy. Just because you are considering bankruptcy does not mean that you are a bad person.

Consult a Houston Bankruptcy Lawyer

At Mills & Henshaw, we offer a free consultation to discuss your financial matter. A bankruptcy attorney at our firm can sit with you and discuss your particular situation and goals in order to help you make the decision that will positively affect your future. We represent clients in Chapter 7 and Chapter 13 bankruptcy proceedings throughout the Houston metropolitan area in Texas.

If you are facing overwhelming debt and are considering bankruptcy, contact a Houston bankruptcy attorney at our firm today.