Separate Bankruptcy Myth From Truth

When circumstances beyond your control such as illness or job loss make it nearly impossible to keep up with the bills, you may be able to obtain a fresh start through bankruptcy. A lot of misinformation exists about how bankruptcy protection works.

At Moreno & Villarrubia LLP, our bankruptcy attorneys will take time to answer your questions. Then they will analyze your specific financial situation with the goal of helping you return to a place of financial freedom.

9 Common Myths About Bankruptcy

The first is that you will lose everything if you file for bankruptcy. This is not true. Indiana has exemptions that will allow you to keep certain property. Here are the other eight:

  1. Paying off your debt is better than filing a bankruptcy.
  2. Filing for bankruptcy is an admission of financial failure.
  3. Bankruptcy ruins your chance of homeownership.
  4. Bankruptcy is only for "overspenders" or those with credit card debt.
  5. You cannot file bankruptcy again if you have filed one in the past.
  6. You must file bankruptcy if your spouse is filing.
  7. You cannot discharge medical debt or hospital bills.
  8. You will never be able to rebuild your credit or get credit again.

Why Choose Moreno & Villarrubia LLP?

Our team of professionals has handled 100 percent bankruptcy cases for nine years. We focus on providing clients with personal, friendly and efficient service.

Each situation is different, so we tailor solutions to your unique needs. You will find that our fees are affordable and payment plans are available. We can also meet with you on weeknights or over the weekend when requested.

Schedule your free initial consultation with a bankruptcy lawyer by reaching out online or calling our Indianapolis offices at 317-822-9900.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.