You Deserve a Brighter Financial Future

Bankruptcy Myths

Appleton Bankruptcy Lawyer Gets to the Truth

Everyone seems to have a strong opinion about bankruptcy, and most people assume it is a negative process. The problem is the public’s ideas of bankruptcy are overwhelmingly formed after hearing bankruptcy myths. Once you know the truth of bankruptcy, you will probably come to see it is not as intimidating as people say.

My name is Andrew Sapinski, and I am a bankruptcy attorney in Appleton with 20+ years of legal experience. I am here to help you separate bankruptcy fact from fiction so you can better understand the process. Call my law firm at (888) 782-9423 and request an initial consultation to get started.

Common Bankruptcy Myths You Probably Have Heard

  1. Myth: You will lose all of your property when you file for bankruptcy.
    Truth: In some Chapter 7 bankruptcy filings, there is a possibility of losing significant assets. However, Wisconsin state-level and federal-level exemptions can probably protect much of your property from forfeiture. You can also use a Chapter 13 bankruptcy to try to hold onto your assets if you are nonexempt. In Chapter 13, you minimize and restructure your debt before paying off as much as you can of the remainder in exchange for a lowered chance of forfeiting assets.
  2. Myth: Your credit score will be ruined for 10 years or more.
    Truth: Your credit score is going to lower after you file for bankruptcy, but there is no promise it will be ruined. With the appropriate steps taken after bankruptcy, you can start to immediately rebuild your credit score. A Chapter 7 bankruptcy only stays on your score for a maximum of 10 years, too. Chapter 13 lingers for only six in most cases.
  3. Myth: Bankruptcy will get rid of all my debts once I file.
    Truth: Unfortunately, this is not true. There are certain types of debt that cannot be discharged, including student loans, tax debts, gambling debts, and money owed for child support. Keep in mind that discharging a debt is not always a good thing. If you discharge a debt tied to a lien, you might lose the related property, like your home or automobile.
  4. Myth: You probably cannot qualify for bankruptcy.
    Truth: You probably can qualify for bankruptcy, especially if you begin the process with an Appleton bankruptcy attorney from my firm, Sapinski Law Office, S.C. A 2005 Congressional reform largely changed federal bankruptcy rules to make it easier for individuals and small businesses to qualify for bankruptcy. Call (888) 782-9423 to explore your options with me.
  5. Myth: Getting credit after bankruptcy will be difficult.
    Truth: This is only true if you do not know what to do after bankruptcy. Using my revolutionary credit restoration program, I can help you follow a step-by-step system to rebuild your credit score with confidence.
  6. Myth: Everyone will learn about your bankruptcy.
    Truth: Filing for bankruptcy does not put you in civil or criminal court. As such, it does not become public record. Only certain interested parties will have access to the database that stores your bankruptcy information. In a standard bankruptcy process, no one needs to know about it but you, your attorney, interested creditors, and the court.

Call an Appleton Bankruptcy Attorney Today to Learn More

There are certainly many more myths about bankruptcy out there that you might have heard and believed. If you have any more questions, I encourage you to reach out to my law firm. During a free initial consultation, I can address your biggest concerns, dispel the worst myths, and get you pointed towards a debt-free future.

Trusted and Recommended

See What Past Clients Have Said
  • “I could not be more at ease with my decision of choosing Sapinski Law Office, S.C.”

  • “I would recommend Sapinski Law Office, S.C. to anyone facing bankruptcy.”

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  • “We highly recommend Attorney Sapinski as a straightforward bankruptcy lawyer, and more so, a person who really cares about his clients.”

  • “I would recommend him to anyone!”

  • “I was very pleased with the professional services I received from Mr. Sapinski and his law firm.”

  • “I would recommend Sapinski Law firm to anyone in need of assistance.”

  • “I would like to express my thanks again regarding the manner in which you handled my case.”

  • “Sapinski Law Office, S.C. is a place I highly recommend for people truly in need of help with their debt.”

  • “You definitely took away a lot of the pain.”

  • “We strongly recommend Sapinski Law Office, S.C.”

  • “Andrew it was a pleasure to work with you and if anyone I know need your services I will definitely recommend you.”

  • “Your manner and assistance were both very helpful…”

  • “Thank you for your time and effort.”

  • “Mr. Sapinski made the entire process painless.”