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Myths About Bankruptcy

Myth #1: It's expensive to meet with an attorney and I can't get an appointment without money.

Truth: At Bournakis and Mitchell, P.C., we offer a FREE consultation about Georgia bankruptcy. It does NOT cost you anything to come in and speak with one of our experienced attorneys.

Myth #2: I am going to lose all of my belongings.

Truth: Each state has certain exemptions that allow you to keep a good amount of your valuables and possessions. With the Georgia exemptions, most of our clients do keep their belongings.

Myth #3 My car will be repossessed if I file a bankruptcy.

Truth: In bankruptcy, there is something called the “automatic stay.” Because of this stay, the creditor is NOT allowed to take your car from you. As long as you keep full coverage insurance on your vehicle and stay current on your Chapter 13 payments, the Bankruptcy Court will not allow the creditor to take your vehicle.

Myth #4: Filing a bankruptcy will ruin my credit and I will never be able to buy a home in the future.

Truth: Although your credit will be damaged, it is NOT forever. People recover from bankruptcy and so will you! You can buy a house after your case is discharged and you rebuild your credit.

Myth #5: My spouse MUST file with me and/or I need his/her permission to do so.

Truth: You do not need your spouse’s permission to file a bankruptcy. In fact, there are plenty of cases where only one spouse files for bankruptcy.

Call one of our experienced attorneys at 706-295-7376 about your free consultation and take action today to protect yourself from creditor harassment!