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This network provides you with the information you need in order to make an informed decision about whether bankruptcy is right for you.
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Bankruptcy Myths...
and the REAL TRUTHS

Myth: Everyone will know that I have filed for bankruptcy.

Truth: Technically, Chapter 7 filings are public records and it is possible for anyone to find out. However, unless your employer (or neighbor or mom) searches bankruptcy filings, it is unlikely anyone will find out.
Myth: I will lose all my stuff.

Truth: Most people who file for Chapter 7 keep everything. They keep their car, big screen tv, clothes, furniture, and everything else they own because the law provides a right for people to keep exempt assets.
Myth: I will never get credit again.

Truth: NONSENSE! Within the first few weeks of having their bankruptcy discharged, many individuals report getting 3, 5 and even 10 new credit card offers in the mail. In fact, a car company will probably tell you that you qualify for a brand new car within your first few months after bankruptcy. Stay away, the interest rates will likely be high until you repair your credit.
Myth: Bankruptcy is immoral. Only bad people or dead beats file bankruptcy.

Truth: Abraham Lincoln, Ulysses S. Grant, Henry Ford, Walt Disney, Milton Hershey (Hershey's Chocolate), Henry Heinz (Ketchup), and even Thomas Jefferson have filed bankruptcy! Bankruptcy was created to permit good people to wipe out their debts and get a fresh start. In fact bankruptcy's history is traced all the way back to the Bible. Deuteronomy 15 specifically told creditors that they should cancel the debts of those that owed money every seven years. It is no coincidence that our founding fathers created a right of bankruptcy for individuals who were drowning in debt and had no way to escape
Myth: If I don't pay, creditors will continue to harass me.

Truth: As soon as you file, an automatic stay goes into effect in most cases. This “stay” prohibits all creditors from doing anything to collect upon any debt listed in the bankruptcy filing. They cannot call, harass, write, or do any other act until the Court either discharges your bankruptcy or determines that you are not entitled to such a discharge.
Myth: Filing bankruptcy will ruin my credit for 10 years.

Truth: NONSENSE! If you accept one or two new credit cards and responsibly use them by charging small amounts every month and paying the balances in full each month, you will show your creditors that you have learned from your past mistakes and are now credit worthy. By managing credit in this way, you will quickly improve your credit, often having very good and even excellent credit in less than 3 years. Another important tip is to consider an installment loan (such as a used car loan). By having different types of credit and using them responsibly, your credit scores will increase more quickly.
Myth: Bankruptcy won't work for me. I owe back taxes and my pay is being garnished.

Truth: Generally, income taxes over three years old are dischargeable. As soon as your bankruptcy is filed, wage garnishment must stop!
Myth: I filed for bankruptcy in the past and cannot file again.

Truth: There are certain time restrictions, but in general, an individual may file a second bankruptcy so long as the applicable time period between bankruptcies have elapsed. Consult with a bankruptcy attorney in your area for specific time frames.
Myth: You can't file bankruptcy any more.

Truth: The Bankruptcy Code was revised in 2005 and there are now income limitations, but every individual is eligible to file bankruptcy. A bankruptcy attorney will be able to help you determine under which chapters you may file.
Myth: It is really hard to file bankruptcy now.

Truth: When there are rules and procedures, it is hard to do anything unless you have experience. When you have a toothache, that is throbbing and you can't sleep, you don't try and fix it yourself. You go to a dentist to take away your pain. With financial burdens, an experienced bankruptcy attorney can remove financial pain, relieve stress, and help you get a fresh

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Welcome to Bankruptcy4usa.com.

Are you being crushed by a mountain of debt? Bankruptcy is NOT for everyone. Our attorneys will help you make the right decision.

Bankruptcy4usa.com provides accurate and timely information so that you can make your decision based on the facts and not the lies spread by banks, credit card companies and other lenders. Since bankruptcy laws vary from state to state, you will want to consult with an attorney specifically located in your state.

Bankruptcy4usa.com member attorneys provide free, no obligation consultation. To speak with an attorney near you, click here.

What our Attorneys will do for you:

Things You Should Not Do:

Don't transfer your car to your relative or friend because you think you will be able to protect it.
Don't move out of your home just because it is in foreclosure. Even if you are going to surrender and move out, you can remain in the home and save money, which you can use for moving expenses and to get a fresh start.
Don't fail to list jewelry just because you are afraid that it will be taken. Experienced practitioners can take advantage of state and federal exemptions to protect certain jewelry.
Don't transfer the deed to your home because you are having trouble!
Don't take money out of your 401k or IRA's. Qualified accounts are protected from being taken from you (subject to certain limitations).
Do tell your attorney the truth. Bankruptcy fraud is a federal crime.

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About Bankruptcy4usa.com

Bankruptcy4usa.com was created by four compassionate attorneys from across the country who recognize that debtors are being misled and even lied to by banks, credit card companies, and other lenders. Kenneth E. Lenz, Esq. of Connecticut, Traci K. Stevenson, Esq. of Florida, Maureen O'Malley, Esq. of Virginia, and John M. Crane, Esq. of New York have come together to provide individuals to provide accurate, truthful, and easily understandable information to individuals who are drowning in debt and fearful about the appropriate steps to take. There are strong legal rights available to individuals and an experienced bankruptcy attorney can help you address your financial difficulties and receive a fresh start. You do not have to put up with harassing phone calls or illegal threats. As members of the National Association of Consumer Bankruptcy Attorneys, we communicate daily with other bankruptcy attorneys nationwide whose practice is focused on bankruptcy. We consult with each other and other experienced bankruptcy attorneys. Often, several or more attorneys will collectively analyze an individual’s particular situation and come up with a strategic solution. Our nationwide interaction with other bankruptcy attorneys ensures that all clients have the best representation possible.

Because some bankruptcy laws vary by state and your location, our ultimate goal is to have a member attorney in every county in every state across the country! Our Mission Statement is to provide each individual with a free initial consultation to help you avoid costly mistakes. Even if we do not have a member attorney in your location, if you request a free consultation, we will reach out to bankruptcy professionals in your area and do our best to find a bankruptcy attorney near you with whom you can consult. We are attorneys and not sales people and we want to provide you with a different view of how to handle your financial burdens. There is a fairly quick solution that you do not see on TV. You also never hear it from banks, credit card companies, or from those in Washington, D.C..

When we talk with you, we will also let you know if bankruptcy is NOT right for you, as well as advise you of all of your options. Bankruptcy is not a last-option process. Once you recognize that you are having problems, you should immediately see a bankruptcy lawyer who can advise you as to how to proceed in order to reach the best results for you. Thousands of people file for bankruptcy each year. Bankruptcy's roots are traced all the way back to the Bible. It is a law that is granted under the Constitution and is intended to help you receive a fresh start.

PAID ATTORNEY ADVERTISEMENT

This Web site is a group advertisement. It is not a lawyer referral service or prepaid legal services plan. Bankruptcy4usa.com is not a law firm. The sole basis for the inclusion of the participating lawyers or law firms is the payment of a fee for exclusive geographical advertising rights. Bankruptcy4usa.com does not endorse or recommend any lawyer or law firm who participates in the network. It does not make any representation and has not made any judgment as to the qualifications, expertise or credentials of any participating lawyer. The information contained herein is not legal advice. Any information you submit to Bankruptcy4usa.com may not be protected by attorney-client privilege. All photos are of models and do not depict clients. All case evaluations are performed by participating attorneys. An attorney responsible for the content of this Site is John M. Crane, Esq., licensed in New York with offices at 342 N. Main Street, Port Chester, New York 10573.

Additional State-Specific Disclosures Pertaining to Attorney Advertising Alabama: No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers. Florida: Florida Rule of Professional Conduct 4-7.10(c) defines a group advertising program operated by an organization wherein the legal services advertisements utilize a common telephone number and potential clients are then referred only to lawyers or law firms participating in the group advertising program to be a lawyer referral service. By all other standards, we and the joint advertising ventures for which we are an agent are not lawyer referral services. Missouri: The choice of a lawyer is an important decision and should not be based solely upon advertisements. New York: Prior results do not guarantee a similar outcome. Wyoming: The Wyoming State Bar does not certify any lawyer as a specialist or expert.

By an Act of Congress and the President of the United States, we are a federal Debt Relief Agency. Attorneys and/or law firms promoted through this Web site are also federally designated Debt Relief Agencies. They help people file for relief under the U.S. Bankruptcy Code. Disclosures Required Under the U.S. Bankruptcy Code.

Bankruptcy Myths... and the REAL TRUTHS