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Bankruptcy Myths – Huntsville Lawyer

Exploding the Myths About Consumer Bankruptcy

Changes in U.S. bankruptcy law have generated a number of myths about the bankruptcy process. If you have allowed those myths to dominate your thinking about a Chapter 7 or Chapter 13 bankruptcy filing, it might be time to reconsider them. North Alabama bankruptcy lawyer Jack B. Sabatini can help set the record straight and explain your available options.

Mr. Sabatini’s full-service bankruptcy law practice was founded more than 30 years ago to help hard-working people just like you. He strives to help individuals and families that have found themselves in financial distress with nowhere else to turn.

Don’t be scared off by rumors or myths about bankruptcy. Some of these myths are perpetuated by credit card companies or credit counseling companies who don’t want you to take advantage of your legal right to use the bankruptcy process. Other myths may come from a misunderstanding of the changes made to the bankruptcy code in 2005. Take that first step toward getting your finances back on track Contact Jack B. Sabatini, Attorney at Law, in the Huntsville, Madison and Scottsboro areas by calling 256-534-4557.

Don’t Be Swayed by Misinformation — Chapter 7 and 13 Bankruptcy Can Help

Here are some of the most persistent myths about the bankruptcy process:

Bankruptcy Myth #1: You will have to sell all of your possessions to pay off your creditors.

Truth: In reality, there are many exemptions that may allow you to keep your home and much of your personal property, including a vehicle.

Bankruptcy Myth #2: Your credit will be destroyed and you will never be able to get a loan again.

Truth: If you are considering bankruptcy, your credit has probably already been damaged, but even if you do declare bankruptcy, your credit will eventually improve after you have discharged your debts or completed your repayment plan.

Bankruptcy Myth #3: The changes to the Bankruptcy Code in 2005 will prevent most people from being able to file for bankruptcy.

Truth: The “means test” for filing Chapter 7 was created by the changes made in 2005, but most people still qualify. Even if you don’t file under Chapter 7, you may still qualify under Chapter 13.

Bankruptcy Myth #4: Only irresponsible or reckless people end up having to file for bankruptcy.

Truth: In reality, most people that have to file bankruptcy haven’t been irresponsible or reckless with their finances. Most filers have suffered some unforeseen event such as a long illness, a job loss, or a divorce.

There are certainly more myths and rumors out there, but if you contact attorney Jack B. Sabatini, he can explain what bankruptcy is really all about. He provides reliable information about bankruptcy, and honest answers to your questions. You can trust his decades of experience and his dedication to clients throughout Alabama.

Contact Jack B. Sabatini, Attorney at Law

Your initial consultation with our skilled bankruptcy lawyer is always free of charge. Our toll-free number is 256-534-4557, but you can also e-mail us to arrange an appointment.

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


Yuri Ozaki

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Jack B. Sabatini

Attorney at Law 108 South Side Square Huntsville, AL 35801



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Huntsville Bankruptcy Help

Huntsville Bankruptcy Help