There is a great deal of misinformation about what bankruptcy is really all about. Just because there is information on the internet, it does not mean that the information is accurate or correct. A good deal of this misinformation reaches people through the internet and from well meaning but misinformed family members, friends or co-workers. We at the Law Offices of Bonnie L. Johnson will defuse the most common myths and factually set forth the true advantages and consequences of needing to file for bankruptcy.

Myth: Bankruptcy is NO LONGER AVAILABLE under the New Bankruptcy Laws!

Wrong! Bankruptcy is still alive and well in this country. According to the U.S. Federal Courts, in Texas alone in 2012, there were over 48,000 bankruptcy cases filed. A study by the American Bankruptcy Institute shows that 96% of people still qualify for relief under the New Bankruptcy Laws passed in October of 2005. Chances are that you still qualify for debt relief as well.

Myth: I will LOSE EVERYTHING when I file for bankruptcy!

Wrong! In Texas, there are broad exemption laws which protect houses, vehicles, family furnishings, and retirement accounts. After filing bankruptcy, you will most likely get to keep almost everything that you own.

Myth: I will NEVER be able to get credit again!

Wrong! You can get credit and credit card offers after the successful completion of your case! The reason why creditors are willing to give you credit and credit cards again is that you will not have as much debt as before. After bankruptcy, your debt to income ratio will substantially improve. The debt to income ratio is a very important factor to your future creditors’ and lenders’ decision to approve your credit.

Myth: EVERYONE WILL KNOW that I’ve filed bankruptcy!

Wrong! Your bankruptcy filing is not reported in the public media or newspaper. Unless you are a celebrity, put a sign in your yard, or notify your family and friends, no one will know that you filed for bankruptcy. Bankruptcy is a private matter, and we will ensure you acquire debt relief with dignity.

Myth: Bankruptcy is moral or PERSONAL FAILURE!

Wrong! Bankruptcy is part of the law passed by the Federal Government in order to protect its citizens from the harshness and stress of debt and debt collection and allows them to keep their right to property that would be otherwise lost. It is your right as a U.S. Citizen! Bankruptcy is designed to give good, honest people the rights to successfully reorganize or eliminate their debt and obtain a financial freedom.

Myth: Bankruptcy NO LONGER PROTECTS from my creditors!

Wrong! Once you file for bankruptcy, the U.S. Government prohibits your creditors from taking any actions against you or your property. Your creditor will no longer be able to contact you directly, take a cut of your paycheck, or even sue you. Even if you have a lawsuit or judgment pending, your bankruptcy filing will freeze that lawsuit. If creditors try to harass you or defy the court order by the U.S. government, they will be subject to fines and sanctions by the U.S. Bankruptcy Court.

Myth: There is MINIMUM AMOUNT OF DEBT required to file for bankruptcy!

Wrong! In Bankruptcy, there is no minimum or maximum amount of debt required to file for bankruptcy. Whenever a person has any amount of debt and they cannot pay all their debts in a timely manner, they can file for bankruptcy. Whether you owe $1 or $1,000,000, you could qualify for bankruptcy help.

Myth: Back taxes CANNOT BE ELIMINATED in a bankruptcy!

Wrong! At the Law Offices of Bonnie L. Johnson, we have successfully eliminated millions of dollars of back taxes for over 25 years. Most federal taxes over 3 years old can be eliminated and even property tax. However, bankruptcy does not eliminate sales taxes or self-employment withholding taxes regardless of how old they are.

Myth: Medical bills and credit card debts can NO LONGER BE ELIMINATED!

Wrong! Medical bills and credit card debts are normally the first types of debt to be eliminated in bankruptcy. Most people eliminate both types of debt completely when they file for bankruptcy.

Myth: My husband/wife MUST JOINTLY FILE bankruptcy with me!

Wrong! Bankruptcy does not require married couples to file for debt relief together. Your spouse can file separately, together, or not at all. Often times, it makes sense for couples who have a good amount of joint debt to file together. This is a decision that depends upon your personal situation, and this type of decision should be made in conjunction with the advice of experienced bankruptcy lawyer.

Myth: I can’t file bankruptcy AGAIN!

Wrong! It depends on how long it been since you filed. If you have filed for a Chapter 7 bankruptcy before, you must wait 8 years before filing another Chapter 7. If you have a Chapter 13, you only need to wait 2 years before filing again. If you Chapter 7 or Chapter 13 case was dismissed, you could immediately refile under the right circumstances. With an experienced bankruptcy lawyer, refiling for bankruptcy is easy because they can determine your eligibility to refile.

Myth: If I file Chapter 13 bankruptcy, I MUST REPAY my debt 100%!

Wrong! When you file for Chapter 13 bankruptcy, in most cases you only pay pennies on the dollar for some of your debts. Chapter 13 was designed by the U.S. Government to give good, honest people a fair break from overwhelming debt while still allowing them a reasonable standard of living and lifestyle.

Myth: Filing for Bankruptcy is TOO HARD!

SOMETIMES TRUE! No matter what you do, if you do not have the experience, it will be hard. You could file bankruptcy on your own, but most bankruptcy cases filed by inexperienced individuals and lawyers often get dismissed. If you have an experienced and seasoned bankruptcy lawyer, of course the complicated and difficult process of bankruptcy filing will be easier. At the Law Offices of Bonnie L. Johnson, we make filing bankruptcy easy and stress-free. Don’t waste your time and make it easy on yourself, hire an attorney with experience.

Myth: I can NEVER BUY or SELL a house or car as long as my case is pending!

Wrong! We can get permission for you to be able to either buy or sell a house or car while you are in bankruptcy. It is more common than you think. Permission is usually granted if your new house or car is reasonably within your budget. In the case of selling, as long as the price of your sale is reasonable for the value of the property, you would be able to obtain permission!

Myth: I CAN’T DO BUSINESS anymore if I’m in bankruptcy!

Wrong! You can continue business as usual even after filing for a Chapter 13, “Reorganizational,” bankruptcy. You can do business on a regular and ordinary fashion just like you were before you filed for bankruptcy. However, you may be required to report your profits and losses in order to show how your business is doing.

We hope this dispels some of those misconceptions you might have about the bankruptcy process. This page might not answer all your questions, but you should feel free to contact us at 214.748.4848 anytime with any questions you might have personal bankruptcy. We might even post your question on our website to help other people just like you.There is a great deal of misinformation about what bankruptcy is really all about. Just because there is information on the internet, it does not mean that the information is accurate or correct. A good deal of this misinformation reaches people through the internet and from well meaning but misinformed family members, friends or co-workers. We at the Law Offices of Bonnie L. Johnson will defuse the most common myths and factually set forth the true advantages and consequences of needing to file for bankruptcy.

Myth: Bankruptcy is NO LONGER AVAILABLE under the New Bankruptcy Laws!

Wrong! Bankruptcy is still alive and well in this country. According to the U.S. Federal Courts, in Texas alone in 2012, there were over 48,000 bankruptcy cases filed. A study by the American Bankruptcy Institute shows that 96% of people still qualify for relief under the New Bankruptcy Laws passed in October of 2005. Chances are that you still qualify for debt relief as well.

Myth: I will LOSE EVERYTHING when I file for bankruptcy!

Wrong! In Texas, there are broad exemption laws which protect houses, vehicles, family furnishings, and retirement accounts. After filing bankruptcy, you will most likely get to keep almost everything that you own.

Myth: I will NEVER be able to get credit again!

Wrong! You can get credit and credit card offers after the successful completion of your case! The reason why creditors are willing to give you credit and credit cards again is that you will not have as much debt as before. After bankruptcy, your debt to income ratio will substantially improve. The debt to income ratio is a very important factor to your future creditors’ and lenders’ decision to approve your credit.

Myth: EVERYONE WILL KNOW that I’ve filed bankruptcy!

Wrong! Your bankruptcy filing is not reported in the public media or newspaper. Unless you are a celebrity, put a sign in your yard, or notify your family and friends, no one will know that you filed for bankruptcy. Bankruptcy is a private matter, and we will ensure you acquire debt relief with dignity.

Myth: Bankruptcy is moral or PERSONAL FAILURE!

Wrong! Bankruptcy is part of the law passed by the Federal Government in order to protect its citizens from the harshness and stress of debt and debt collection and allows them to keep their right to property that would be otherwise lost. It is your right as a U.S. Citizen! Bankruptcy is designed to give good, honest people the rights to successfully reorganize or eliminate their debt and obtain a financial freedom.

Myth: Bankruptcy NO LONGER PROTECTS from my creditors!

Wrong! Once you file for bankruptcy, the U.S. Government prohibits your creditors from taking any actions against you or your property. Your creditor will no longer be able to contact you directly, take a cut of your paycheck, or even sue you. Even if you have a lawsuit or judgment pending, your bankruptcy filing will freeze that lawsuit. If creditors try to harass you or defy the court order by the U.S. government, they will be subject to fines and sanctions by the U.S. Bankruptcy Court.

Myth: There is MINIMUM AMOUNT OF DEBT required to file for bankruptcy!

Wrong! In Bankruptcy, there is no minimum or maximum amount of debt required to file for bankruptcy. Whenever a person has any amount of debt and they cannot pay all their debts in a timely manner, they can file for bankruptcy. Whether you owe $1 or $1,000,000, you could qualify for bankruptcy help.

Myth: Back taxes CANNOT BE ELIMINATED in a bankruptcy!

Wrong! At the Law Offices of Bonnie L. Johnson, we have successfully eliminated millions of dollars of back taxes for over 25 years. Most federal taxes over 3 years old can be eliminated and even property tax. However, bankruptcy does not eliminate sales taxes or self-employment withholding taxes regardless of how old they are.

Myth: Medical bills and credit card debts can NO LONGER BE ELIMINATED!

Wrong! Medical bills and credit card debts are normally the first types of debt to be eliminated in bankruptcy. Most people eliminate both types of debt completely when they file for bankruptcy.

Myth: My husband/wife MUST JOINTLY FILE bankruptcy with me!

Wrong! Bankruptcy does not require married couples to file for debt relief together. Your spouse can file separately, together, or not at all. Often times, it makes sense for couples who have a good amount of joint debt to file together. This is a decision that depends upon your personal situation, and this type of decision should be made in conjunction with the advice of experienced bankruptcy lawyer.

Myth: I can’t file bankruptcy AGAIN!

Wrong! It depends on how long it been since you filed. If you have filed for a Chapter 7 bankruptcy before, you must wait 8 years before filing another Chapter 7. If you have a Chapter 13, you only need to wait 2 years before filing again. If you Chapter 7 or Chapter 13 case was dismissed, you could immediately refile under the right circumstances. With an experienced bankruptcy lawyer, refiling for bankruptcy is easy because they can determine your eligibility to refile.

Myth: If I file Chapter 13 bankruptcy, I MUST REPAY my debt 100%!

Wrong! When you file for Chapter 13 bankruptcy, in most cases you only pay pennies on the dollar for some of your debts. Chapter 13 was designed by the U.S. Government to give good, honest people a fair break from overwhelming debt while still allowing them a reasonable standard of living and lifestyle.

Myth: Filing for Bankruptcy is TOO HARD!

SOMETIMES TRUE! No matter what you do, if you do not have the experience, it will be hard. You could file bankruptcy on your own, but most bankruptcy cases filed by inexperienced individuals and lawyers often get dismissed. If you have an experienced and seasoned bankruptcy lawyer, of course the complicated and difficult process of bankruptcy filing will be easier. At the Law Offices of Bonnie L. Johnson, we make filing bankruptcy easy and stress-free. Don’t waste your time and make it easy on yourself, hire an attorney with experience.

Myth: I can NEVER BUY or SELL a house or car as long as my case is pending!

Wrong! We can get permission for you to be able to either buy or sell a house or car while you are in bankruptcy. It is more common than you think. Permission is usually granted if your new house or car is reasonably within your budget. In the case of selling, as long as the price of your sale is reasonable for the value of the property, you would be able to obtain permission!

Myth: I CAN’T DO BUSINESS anymore if I’m in bankruptcy!

Wrong! You can continue business as usual even after filing for a Chapter 13, “Reorganizational,” bankruptcy. You can do business on a regular and ordinary fashion just like you were before you filed for bankruptcy. However, you may be required to report your profits and losses in order to show how your business is doing.

We hope this dispels some of those misconceptions you might have about the bankruptcy process. This page might not answer all your questions, but you should feel free to contact us at 214.748.4848 anytime with any questions you might have personal bankruptcy. We might even post your question on our website to help other people just like you.There is a great deal of misinformation about what bankruptcy is really all about. Just because there is information on the internet, it does not mean that the information is accurate or correct. A good deal of this misinformation reaches people through the internet and from well meaning but misinformed family members, friends or co-workers. We at the Law Offices of Bonnie L. Johnson will defuse the most common myths and factually set forth the true advantages and consequences of needing to file for bankruptcy.

Myth: Bankruptcy is NO LONGER AVAILABLE under the New Bankruptcy Laws!

Wrong! Bankruptcy is still alive and well in this country. According to the U.S. Federal Courts, in Texas alone in 2012, there were over 48,000 bankruptcy cases filed. A study by the American Bankruptcy Institute shows that 96% of people still qualify for relief under the New Bankruptcy Laws passed in October of 2005. Chances are that you still qualify for debt relief as well.

Myth: I will LOSE EVERYTHING when I file for bankruptcy!

Wrong! In Texas, there are broad exemption laws which protect houses, vehicles, family furnishings, and retirement accounts. After filing bankruptcy, you will most likely get to keep almost everything that you own.

Myth: I will NEVER be able to get credit again!

Wrong! You can get credit and credit card offers after the successful completion of your case! The reason why creditors are willing to give you credit and credit cards again is that you will not have as much debt as before. After bankruptcy, your debt to income ratio will substantially improve. The debt to income ratio is a very important factor to your future creditors’ and lenders’ decision to approve your credit.

Myth: EVERYONE WILL KNOW that I’ve filed bankruptcy!

Wrong! Your bankruptcy filing is not reported in the public media or newspaper. Unless you are a celebrity, put a sign in your yard, or notify your family and friends, no one will know that you filed for bankruptcy. Bankruptcy is a private matter, and we will ensure you acquire debt relief with dignity.

Myth: Bankruptcy is moral or PERSONAL FAILURE!

Wrong! Bankruptcy is part of the law passed by the Federal Government in order to protect its citizens from the harshness and stress of debt and debt collection and allows them to keep their right to property that would be otherwise lost. It is your right as a U.S. Citizen! Bankruptcy is designed to give good, honest people the rights to successfully reorganize or eliminate their debt and obtain a financial freedom.

Myth: Bankruptcy NO LONGER PROTECTS from my creditors!

Wrong! Once you file for bankruptcy, the U.S. Government prohibits your creditors from taking any actions against you or your property. Your creditor will no longer be able to contact you directly, take a cut of your paycheck, or even sue you. Even if you have a lawsuit or judgment pending, your bankruptcy filing will freeze that lawsuit. If creditors try to harass you or defy the court order by the U.S. government, they will be subject to fines and sanctions by the U.S. Bankruptcy Court.

Myth: There is MINIMUM AMOUNT OF DEBT required to file for bankruptcy!

Wrong! In Bankruptcy, there is no minimum or maximum amount of debt required to file for bankruptcy. Whenever a person has any amount of debt and they cannot pay all their debts in a timely manner, they can file for bankruptcy. Whether you owe $1 or $1,000,000, you could qualify for bankruptcy help.

Myth: Back taxes CANNOT BE ELIMINATED in a bankruptcy!

Wrong! At the Law Offices of Bonnie L. Johnson, we have successfully eliminated millions of dollars of back taxes for over 25 years. Most federal taxes over 3 years old can be eliminated and even property tax. However, bankruptcy does not eliminate sales taxes or self-employment withholding taxes regardless of how old they are.

Myth: Medical bills and credit card debts can NO LONGER BE ELIMINATED!

Wrong! Medical bills and credit card debts are normally the first types of debt to be eliminated in bankruptcy. Most people eliminate both types of debt completely when they file for bankruptcy.

Myth: My husband/wife MUST JOINTLY FILE bankruptcy with me!

Wrong! Bankruptcy does not require married couples to file for debt relief together. Your spouse can file separately, together, or not at all. Often times, it makes sense for couples who have a good amount of joint debt to file together. This is a decision that depends upon your personal situation, and this type of decision should be made in conjunction with the advice of experienced bankruptcy lawyer.

Myth: I can’t file bankruptcy AGAIN!

Wrong! It depends on how long it been since you filed. If you have filed for a Chapter 7 bankruptcy before, you must wait 8 years before filing another Chapter 7. If you have a Chapter 13, you only need to wait 2 years before filing again. If you Chapter 7 or Chapter 13 case was dismissed, you could immediately refile under the right circumstances. With an experienced bankruptcy lawyer, refiling for bankruptcy is easy because they can determine your eligibility to refile.

Myth: If I file Chapter 13 bankruptcy, I MUST REPAY my debt 100%!

Wrong! When you file for Chapter 13 bankruptcy, in most cases you only pay pennies on the dollar for some of your debts. Chapter 13 was designed by the U.S. Government to give good, honest people a fair break from overwhelming debt while still allowing them a reasonable standard of living and lifestyle.

Myth: Filing for Bankruptcy is TOO HARD!

SOMETIMES TRUE! No matter what you do, if you do not have the experience, it will be hard. You could file bankruptcy on your own, but most bankruptcy cases filed by inexperienced individuals and lawyers often get dismissed. If you have an experienced and seasoned bankruptcy lawyer, of course the complicated and difficult process of bankruptcy filing will be easier. At the Law Offices of Bonnie L. Johnson, we make filing bankruptcy easy and stress-free. Don’t waste your time and make it easy on yourself, hire an attorney with experience.

Myth: I can NEVER BUY or SELL a house or car as long as my case is pending!

Wrong! We can get permission for you to be able to either buy or sell a house or car while you are in bankruptcy. It is more common than you think. Permission is usually granted if your new house or car is reasonably within your budget. In the case of selling, as long as the price of your sale is reasonable for the value of the property, you would be able to obtain permission!

Myth: I CAN’T DO BUSINESS anymore if I’m in bankruptcy!

Wrong! You can continue business as usual even after filing for a Chapter 13, “Reorganizational,” bankruptcy. You can do business on a regular and ordinary fashion just like you were before you filed for bankruptcy. However, you may be required to report your profits and losses in order to show how your business is doing.

We hope this dispels some of those misconceptions you might have about the bankruptcy process. This page might not answer all your questions, but you should feel free to contact us at 214.748.4848 anytime with any questions you might have personal bankruptcy. We might even post your question on our website to help other people just like you.There is a great deal of misinformation about what bankruptcy is really all about. Just because there is information on the internet, it does not mean that the information is accurate or correct. A good deal of this misinformation reaches people through the internet and from well meaning but misinformed family members, friends or co-workers. We at the Law Offices of Bonnie L. Johnson will defuse the most common myths and factually set forth the true advantages and consequences of needing to file for bankruptcy.

Myth: Bankruptcy is NO LONGER AVAILABLE under the New Bankruptcy Laws!

Wrong! Bankruptcy is still alive and well in this country. According to the U.S. Federal Courts, in Texas alone in 2012, there were over 48,000 bankruptcy cases filed. A study by the American Bankruptcy Institute shows that 96% of people still qualify for relief under the New Bankruptcy Laws passed in October of 2005. Chances are that you still qualify for debt relief as well.

Myth: I will LOSE EVERYTHING when I file for bankruptcy!

Wrong! In Texas, there are broad exemption laws which protect houses, vehicles, family furnishings, and retirement accounts. After filing bankruptcy, you will most likely get to keep almost everything that you own.

Myth: I will NEVER be able to get credit again!

Wrong! You can get credit and credit card offers after the successful completion of your case! The reason why creditors are willing to give you credit and credit cards again is that you will not have as much debt as before. After bankruptcy, your debt to income ratio will substantially improve. The debt to income ratio is a very important factor to your future creditors’ and lenders’ decision to approve your credit.

Myth: EVERYONE WILL KNOW that I’ve filed bankruptcy!

Wrong! Your bankruptcy filing is not reported in the public media or newspaper. Unless you are a celebrity, put a sign in your yard, or notify your family and friends, no one will know that you filed for bankruptcy. Bankruptcy is a private matter, and we will ensure you acquire debt relief with dignity.

Myth: Bankruptcy is moral or PERSONAL FAILURE!

Wrong! Bankruptcy is part of the law passed by the Federal Government in order to protect its citizens from the harshness and stress of debt and debt collection and allows them to keep their right to property that would be otherwise lost. It is your right as a U.S. Citizen! Bankruptcy is designed to give good, honest people the rights to successfully reorganize or eliminate their debt and obtain a financial freedom.

Myth: Bankruptcy NO LONGER PROTECTS from my creditors!

Wrong! Once you file for bankruptcy, the U.S. Government prohibits your creditors from taking any actions against you or your property. Your creditor will no longer be able to contact you directly, take a cut of your paycheck, or even sue you. Even if you have a lawsuit or judgment pending, your bankruptcy filing will freeze that lawsuit. If creditors try to harass you or defy the court order by the U.S. government, they will be subject to fines and sanctions by the U.S. Bankruptcy Court.

Myth: There is MINIMUM AMOUNT OF DEBT required to file for bankruptcy!

Wrong! In Bankruptcy, there is no minimum or maximum amount of debt required to file for bankruptcy. Whenever a person has any amount of debt and they cannot pay all their debts in a timely manner, they can file for bankruptcy. Whether you owe $1 or $1,000,000, you could qualify for bankruptcy help.

Myth: Back taxes CANNOT BE ELIMINATED in a bankruptcy!

Wrong! At the Law Offices of Bonnie L. Johnson, we have successfully eliminated millions of dollars of back taxes for over 25 years. Most federal taxes over 3 years old can be eliminated and even property tax. However, bankruptcy does not eliminate sales taxes or self-employment withholding taxes regardless of how old they are.

Myth: Medical bills and credit card debts can NO LONGER BE ELIMINATED!

Wrong! Medical bills and credit card debts are normally the first types of debt to be eliminated in bankruptcy. Most people eliminate both types of debt completely when they file for bankruptcy.

Myth: My husband/wife MUST JOINTLY FILE bankruptcy with me!

Wrong! Bankruptcy does not require married couples to file for debt relief together. Your spouse can file separately, together, or not at all. Often times, it makes sense for couples who have a good amount of joint debt to file together. This is a decision that depends upon your personal situation, and this type of decision should be made in conjunction with the advice of experienced bankruptcy lawyer.

Myth: I can’t file bankruptcy AGAIN!

Wrong! It depends on how long it been since you filed. If you have filed for a Chapter 7 bankruptcy before, you must wait 8 years before filing another Chapter 7. If you have a Chapter 13, you only need to wait 2 years before filing again. If you Chapter 7 or Chapter 13 case was dismissed, you could immediately refile under the right circumstances. With an experienced bankruptcy lawyer, refiling for bankruptcy is easy because they can determine your eligibility to refile.

Myth: If I file Chapter 13 bankruptcy, I MUST REPAY my debt 100%!

Wrong! When you file for Chapter 13 bankruptcy, in most cases you only pay pennies on the dollar for some of your debts. Chapter 13 was designed by the U.S. Government to give good, honest people a fair break from overwhelming debt while still allowing them a reasonable standard of living and lifestyle.

Myth: Filing for Bankruptcy is TOO HARD!

SOMETIMES TRUE! No matter what you do, if you do not have the experience, it will be hard. You could file bankruptcy on your own, but most bankruptcy cases filed by inexperienced individuals and lawyers often get dismissed. If you have an experienced and seasoned bankruptcy lawyer, of course the complicated and difficult process of bankruptcy filing will be easier. At the Law Offices of Bonnie L. Johnson, we make filing bankruptcy easy and stress-free. Don’t waste your time and make it easy on yourself, hire an attorney with experience.

Myth: I can NEVER BUY or SELL a house or car as long as my case is pending!

Wrong! We can get permission for you to be able to either buy or sell a house or car while you are in bankruptcy. It is more common than you think. Permission is usually granted if your new house or car is reasonably within your budget. In the case of selling, as long as the price of your sale is reasonable for the value of the property, you would be able to obtain permission!

Myth: I CAN’T DO BUSINESS anymore if I’m in bankruptcy!

Wrong! You can continue business as usual even after filing for a Chapter 13, “Reorganizational,” bankruptcy. You can do business on a regular and ordinary fashion just like you were before you filed for bankruptcy. However, you may be required to report your profits and losses in order to show how your business is doing.

We hope this dispels some of those misconceptions you might have about the bankruptcy process. This page might not answer all your questions, but you should feel free to contact us at 214.748.4848 anytime with any questions you might have personal bankruptcy. We might even post your question on our website to help other people just like you.