Knowledgeable Bankruptcy Representation in Tuscaloosa
If you're dealing with unmanageable debts, you have probably thought through all your options for obtaining debt relief. You may have even considered bankruptcy, but you might be unsure if it will actually help you. At The Law Firm of Eric M. Wilson, LLC, we take the time to dispel common bankruptcy myths that could be holding you back from the debt relief you seek, including:
I will lose my home or car if I file bankruptcy.
False! Under federal and Alabama laws, many of your belongings can be exempt from bankruptcy. We work diligently to protect what matters most to you, including your house, car, guns and other personal possessions.
Bankruptcy will ruin my credit forever.
False. Most likely your credit score is already ruined due to enormous outstanding debts. Bankruptcy gives you the option to eliminate those debts so you can start over. Our lawyer provides you with concrete steps toward rebuilding your credit and preparing for life after bankruptcy.
Bankruptcy is only a last resort. I need to use all my other resources, such as my retirement savings or equity in my home, before I can file.
Not true. Bankruptcy is designed to protect your investments so you don't have to spend your life savings to take care of debt. It doesn't need to be your last alternative. With proper planning, you can protect your most important possessions and eliminate debt.
You can't file bankruptcy if you have a job.
Untrue. Whether or not you have a job doesn't affect your right to file bankruptcy. Your employment will only determine what type of bankruptcy you qualify for, Chapter 7 or Chapter 13, depending on your income.
If I file bankruptcy, I can't buy anything for 10 years.
While bankruptcy is reported for 10 years, it does not affect how you spend your hard-earned money. In fact, many creditors see bankruptcy as a responsible step to taking care of your debt, and are more willing to lend to those who actively restore their credit after bankruptcy.
What about filing multiple bankruptcies? This is only a one-time deal, right?
No. It is possible to file bankruptcy multiple times throughout your life. We can help you understand your rights in filing again, with respect to certain limitations based on the time since you last filed, types of debt that can be discharged and other factors.
Our attorney and staff have been helping people understand their rights in bankruptcy since 1996. Contact us by calling 205-409-0056 or toll free at 877-504-7101 to discuss your concerns about bankruptcy in a free initial consultation today. We can help you find the solution that best fits your situation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web-site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.