2. All debts are wiped out in a Chapter 7 Bankruptcy.
3. I'll never be able to get credit again.
4. I will lose all my possessions if I file for Bankruptcy.
5. Can I keep some credit cards when I file for bankruptcy?
When filing for bankruptcy you cannot pick and choose between who you want to pay back and who you don’t. So the simple answer is no, you cannot keep some of your credit cards, but you can keep those cards that have no balance, because those cards have no debt and do not need to be listed in your bankruptcy.
This is perhaps the most common misconception. It is true that the bankruptcy is listed on your credit report for 10 years, but that does not necessarily mean that you have bad credit for 10 years. In most instances by the time you need to talk to a bankruptcy attorney your credit is already bad, and the only way to rebuild your credit is to either pay off the debt, or to start over. Now if it was that easy to pay off your debts you would have done it a long time ago, so allowing yourself to start over by filing for bankruptcy may be the next best option.
Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
Do's and Don'ts
Bankruptcy Attorneys Orlando | Bankruptcy Lawyers Kissimmee | Bankruptcy Lawyers Orlando
Foreclosure Attorney Orlando | Foreclosure Lawyers Orlando | Foreclosure Defense Orlando