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Learn the Truth About Bankruptcy

Read Through Common Myths

Debunking CommonBankruptcy Myths

You may have you heard that new bankruptcy laws mean that there is no help for you or that you can no longer file for protection under the U. S. Bankruptcy Code. This is one of many bankruptcy myths. Numerous false claims and misinformation are constantly being spread in our community about bankruptcy laws.

I’ve compiled a list of the top 14 bankruptcy myths, along with the reality behind them.

1. Under the new law, there’s no more bankruptcy and no more help.

It does not matter where you heard this, it is just not true! The truth is that you can do just about everything when you file under the new law that you could do under the old law. In some ways, the new law actually increased the benefits of filing for bankruptcy. As a result, many of our clients are actually getting better treatment under the new law than they could have gotten under the old law! Find out what filing for protection under the U.S. Bankruptcy Code can do for you by calling (817) 576-1889 to set up your completely free initial consultation.

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2. Everyone will know that I filed for bankruptcy.

Unless you’re a high-profile individual, you’re not likely to see it in any newspapers. While it is true that bankruptcy is a matter of public record, there are too many people who file for bankruptcy that it is almost impossible for anyone to accidentally find out that you filed. Generally, only those you tell will know—although, I do recommend keeping it to yourself to avoid gossip. Ultimately, bankruptcy is as private as you want it to be.

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3. You will lose all your property.

Most of our clients don’t lose anything! There are exemptions that can protect certain assets. Additionally, in most Chapter 7 cases, individuals who file do not possess property that is considered valuable enough for a trustee to go through the trouble of selling, or liquidating, for the purpose of debt repayment.

In those situations where you have a high-value asset that may be at risk of liquidation, you do have the option to file Chapter 13 and pay off your debts over time. It is important that you understand that filing for protection under the U. S. Bankruptcy Code does not generally wipe out or get rid of mortgages or liens against your property. Therefore, if you want to keep any collateral property, you must keep paying off those loans.

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4. I will never be able to purchase property.

This is completely false. The bankruptcy laws are intended by Congress to provide debtors with a fresh start. That “fresh start” includes the ability to own real estate and vehicles and any other type of property that you owned before filing. The truth is, however, that in the future you can buy, own, control and possess whatever you can afford. If you have or can come up with the money, there is no reason you cannot purchase property.

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5. I will never get credit again.

The truth is that most of our clients find it easier to get credit after filing for bankruptcy.

With bankruptcy, your debt is eliminated or else better managed. This means that lenders and credit card companies will start coming to you with offers again. While this is a good thing, it is also something you should approach with caution and responsibility. You will likely be initially subjected to higher interest rates and down payments, and should be careful to make sure you don’t end up back in debt.

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6. Good people don’t file for bankruptcy.

It’s just the opposite. Filing bankruptcy means you’re a very good person who is acting responsibly and exercising rights under the Constitution of the United States that have been enacted for individuals just like you. You have fallen on hard times and are now taking steps toward building a better future. You cannot be a bad person when you act within the law and on behalf you and your family.

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7. Filing for bankruptcy damages credit for 10 years.

While, yes, your bankruptcy will be reported on your credit report for 10 years, this does not mean that it will have a negative effect on your credit score. The fact is that if you have made the decision to file for bankruptcy, it is highly likely that your credit isn’t doing too well to begin with. Bankruptcy gives you a chance to begin rebuilding it.

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8. Married couples have to file for bankruptcy together.

While it may make sense and save money for both husband and wife to file for bankruptcy together, it is absolutely not necessary. In some cases, it actually makes more sense for only one spouse to file.

The law does not require married individuals to file with their spouses.

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9. It’s really hard to file for bankruptcy.

Filing for protection under the U. S. Bankruptcy Code is not difficult in the hands of an experienced attorney. Led by Attorney William Huebner, we will use experience to assist with your bankruptcy. With our help, filing bankruptcy is easy. The decision to file may be difficult, but once you make the decision, filing is easy. The relief you will feel by stepping up to your financial responsibilities and your family’s needs will make your decision to act worth it.

We have been practicing bankruptcy law for over 18 years, and with the help of our experienced attorneys, we have helped thousands of families get the relief they needed and had a right to receive. When you want bankruptcy done right, you go to experienced attorneys. Huebner Law Firm, PC has that experience. We are one of the most knowledgeable debtor bankruptcy firms in Texas. We take pride in providing good, quality services at reasonable cost. Because our clients are satisfied with our legal services, we have a steady stream of referrals from them.

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10. Even if you file, creditors will still harass you and your family.

As soon as you file, the Bankruptcy Court issues an order called the “automatic stay.” The automatic stay legally requires all creditors leave you alone and halt collections actions. A creditor is not allowed to have any contact with you under an automatic stay. This is very powerful. It is enforced by the courts and ensures your creditors leave you alone. If creditors violate the Automatic Stay, they can be severely sanctioned and penalized by the court. Fight back with the rights that you have! The U.S. Bankruptcy Code is one of your most powerful set of rights.

Once you reach out for the protection that only the U.S. Bankruptcy Code can provide, the creditor harassment stops completely. The protection and help that you get by taking advantage of the U.S Bankruptcy Code is that powerful. At Huebner Law Firm, PC, we are proud to be able to help families obtain this protection.

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11. Filing for bankruptcy may cause marital issues that lead to divorce.

It is true that financial problems create marital issues.

Drowning in debt causes stress that can create a strain on your marriage. A lot of divorces are the result of such strains. However, filing for bankruptcy has actually helped thousands of couples to avoid divorce. Bankruptcy allows you to eliminate debt and relieve stress, which can ultimately begin to repair strains on your relationship.

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12. You can’t get rid of back taxes through bankruptcy.

There are numerous ways to eliminate back taxes through bankruptcy. There are certain requirements that must be met, and not all taxes can be discharged, but filing for bankruptcy can absolutely help.

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13. You can only file once for bankruptcy protection.

You will be able to file for bankruptcy more than once, after a certain amount of time has passed.

In order to file for Chapter 7 bankruptcy, the waiting period is eight years after a previous Chapter 7 and six years after a Chapter 13 bankruptcy. In order to file for a Chapter 13 bankruptcy, the waiting period is four years after a previous Chapter 7 and two years after a previous Chapter 13. That being said, our goal at Huebner Law Firm, PC is to make sure that filing one bankruptcy is enough to get your life back on track.

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14. You can pick which debts and property to list in your bankruptcy.

You cannot select which property or debts to list. The law requires you to list all your property and all your debts, without exclusion. Most people want to leave out a debt because it is their intent to keep paying on it. You can achieve the same goal, even though you have to list the debt. If you want to keep paying on a debt after you file, you can. After you file, you can go back and pay anybody you want. Please remember that there are some debts you will be required to paying – such as loans on your home, car or truck – even if you list them in your bankruptcy. More importantly, as long as you stay current on the loans and keep your property properly insured, you get to keep the property. Under the U.S Bankruptcy Code, the creditor is forced to let you keep it and cannot take it back.

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Learn the Truth: Call (817) 576-1889 for a Free Consultation

If you had the chance to learn the truth, wouldn’t you want to know?

  • What if everything you’ve ever been told about bankruptcy is not true?
  • What if everything you have come to believe about bankruptcy is false?
  • What if filing bankruptcy is by far the absolute best thing in the world for you?

It would be a shame if never found out the truth, and because you didn’t find out the truth, never filed bankruptcy, and because you never filed, your family had to suffer the consequences of your misunderstandings for many years. Do yourself a great favor: Call Huebner Law Firm, PC Firm at (817) 576-1889 to set up your free consultation. The appointment will cost you nothing and there is no obligation on your part to retain us as your attorneys. You will leave that appointment with the truth and be better equipped to make educated decisions that will affect you and your family for the rest of your life. Please do not make those decisions without having spoken to us.

Are You...

  • Drowning in debt
  • Feeling stressed because of your finances
  • Being harassed by creditors

If any of these apply to you, take the first step toward your peace of mind by getting in touch with my law firm today.

Client
Testimonials

You're not alone. We've helped over 10,000 families just like yours.

  • "Mr. Huebner is great to work with. He helped my mom through a very difficult time. He was fast, patient, honest and he got the job done. He was available to answer any question she had, and he always treated her like a person, not just another case file. Highly recommended!"

    - Jim

  • "I would highly recommend Mr. Huebner to anybody considering a bankruptcy. He is a very personable, thorough, hard-working attorney with very reasonable fees. He made the whole process very easy for me."

    - SB

  • "To those who may be contemplating bankruptcy, let me assure you that Mr. Huebner is the very best decision that you could possibly make. At a very unsure time in my life Mr. Huebner was a shining ray of hope. Through his unmatched professional knowledge, close attention to detail, and his sincere ..."

    - Daniel

  • "Mr. Huebner kept his word, and all he asks is that you’re honest with him, which is the only way to be when having to make this decision in your life. He never judged us and was very helpful. William was there every step of the way, from the first page until the last. We could not have asked for a ..."

    - TM

  • "I highly recommend attorney William Huebner. He successfully handled my chapter 7 bankruptcy. Bill is extremely knowledgeable and always professional while remaining personable and supportive. The decision to file was difficult for me. Bill was kind and compassionate and helped me better understand ..."

    - YR

  • "Bill, thanks so much for all your help regarding my case. It all went so smoothly because you did such a wonderful job making sure everything was completed and correct. You went the extra mile to make my experience easy and I appreciate all you did to help things along. I will definitely recommend ..."

    - Toni A

  • "I just wanted to thank you for all you did for me pertaining to my bankruptcy at a time in my life when things were looking pretty bleak. You gave me hope for Rick and my future. We both appreciated it. I would recommend you highly. Thank you again!!"

    - C.J.

Frequently
Asked Questions

  • Why should I file for bankruptcy

    There are a number of benefits to bankruptcy, including avoiding foreclosure and putting an end to creditor harassment. Filing can also help resolve issues concerning repossession, past-due taxes, child support payments, and wage garnishments. If you’ve been sued because of a debt, filing for bankruptcy can also help you fight the lawsuit. I can help you understand what filing can mean for you and your family.

  • Will I lose all of my property

    You might be surprised to hear that individuals who file for bankruptcy often lose little to nothing. Every case is different and the amount that you might have to forfeit depends upon a number of unique and complex factors. However, our firm is proud of our success in helping clients retain those assets that are important to them.

  • Can all debts be discharged

    Most debts can be discharged in a bankruptcy, but not all. Some debts—such as most taxes, child support and alimony payments, and student loans—are nondischargeable, meaning they cannot be eliminated altogether. Fortunately, for these debts, it is possible to reschedule or re-organize your payments to be more manageable.

  • How does bankruptcy work

    Bankruptcy can work in one of two ways. First, by filing for a form of bankruptcy referred to as Chapter 7, you can eliminate all dischargeable debt, including credit cards, car loans, mortgages, medical bills and more. Second, you can file a form of bankruptcy known as Chapter 13, which works to re-organize your debts to give you a longer period of time to pay them off. Chapter 13 is preferable to individuals dealing with nondischargeable debts, do not qualify for Chapter 7, or have high-value assets that they wish to protect.

  • Why do I need a lawyer

    You could certainly file for bankruptcy on your own, but it’s not recommended. You’re already anxious enough without the added complexities of navigating the legal process. Having a lawyer handle your case takes the responsibility off of your shoulders and ensures that every detail will be handled correctly and on time. Not sure you can afford an attorney? Huebner Law Firm, PC offers flexible payments plans to help with your bankruptcy case. Get in touch to learn more.

  • When will I see results

    The timeline for bankruptcy can vary on a case-by-case basis. In general, bankruptcy cases are completed between three to six months, depending on a variety of factors. As your attorney, it is my job to make sure the process is completed efficiently and to fight for your rights every step of the way. Speeding can lead to costly mistakes.

How You Benefit from
Working with My Firm

For nearly 20 years, my firm has fought relentlessly for people struggling with debt, many of whom are just trying to get by. We have provided the one thing our clients need: results.

Many families fear bankruptcy as much as they fear asking a lawyer for help. The first thing we want you to know is bankruptcy is not an admission of failure; it’s a way to reclaim control over your financial situation. With that in mind, you can ask for help freely, without worry.

My firm has an in-depth understand of the law and how it affects your finances. Our primary goal is to free you from debt and stress. With our understanding of the law and a thorough examination of your situation, you can be sure certain that we’ll explore every possible avenue of debt resolution.

There’s nothing to lose—our initial consultations are free and starting your case requires no upfront payment. Our flexible payment plans begin at $25 a week, so call today!

  • Courts judge people, but we don't.

  • We are backed by 18+ years’ experience.

  • We offer completely free consultations.

  • It is $0 down to start your case.

  • We offer competitive pricing.

  • Our payment plans start at $25/week.

  • We have helped over 10,000 families.

  • We make weekend appointments available!

I've helped more than 10,000 people who were going through exactly what you are going through now. Don't wait: let me help you too!
- William Huebner

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