Bankruptcy Myths

Don't Let Misinformation Prevent You From Getting Your Fresh Start

Hammond & Hammond, P.C., is a law firm in Jonesboro that is devoted to helping people find meaningful relief from debt through bankruptcy. Over the past 20-plus years, I have helped thousands of consumers resolve very challenging debt problems in Georgia. Almost nothing could take me by surprise, but there is one problem that is extremely frustrating not only for me, attorney Allen Hammond, but also for any other bankruptcy lawyer.

During my career, I have seen a number of individuals forego seeking the debt relief that they need based on misinformation. Don't let myths about bankruptcy prevent you from getting a fresh financial start.

Let me answer a few common questions about the bankruptcy process.

  • Will I lose everything? Exemption schedules allow you to keep many of your assets, including personal property such as jewelry and household items, public assistance benefits, wages, and pensions and retirement accounts. There is even a wildcard exemption for miscellaneous property.
  • Can I keep my house? There are certain rules that apply, but many people are able to retain ownership of their home.
  • Can I keep my car? Again, certain rules apply, but many people are able to keep their vehicle.
  • Can I file for Chapter 7 bankruptcy more than once? You will have to wait eight years after the last filing, but you can file under Chapter 7 more than once.
  • Can I file for Chapter 13 even if I have already filed under Chapter 7? Some rules apply, but a Chapter 13 bankruptcy does not prevent you from seeking relief under Chapter 7.
  • Will bankruptcy ruin my credit? Bankruptcy is reported on your credit history, but it is only one factor in the determination of your score. Eliminating your debt through bankruptcy can actually put you in a better position to rebuild your credit.

These are intended only as general answers and not legal advice based on your individual circumstances. You should always have a lawyer to guide you.

Do You Have Questions About Bankruptcy? Let Me Answer Them.

Contact my law firm to schedule a free initial consultation. You won't have to wait days to sit down with me. I will meet with you as soon as possible. Call my office at 770-603-6572. You can also send me your information online and I will call you.

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