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Bankruptcy Court
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United States Bankruptcy Court
Middle District of Florida

George C. Young Federal Bldg
400 West Washington Street
Orlando, FL 32801

Bankruptcy Court Website

US Bankruptcy Court Location, Orlando Florida
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Bankruptcy - Myths
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1. Congress has eliminated bankruptcy for the "little guy."
Despite what you may have heard in the press, bankruptcy is still alive and well. In October 2005,new bankruptcy reform laws went into effect that may make it more difficult for some individuals to qualify for Chapter 7 relief. However, consumers in serious financial trouble should still be able to qualify for protection under the Bankruptcy Code.

2. Bankruptcy will ruin my credit record.
What ruins your credit record is your inability to pay your debts on time. After your bankruptcy case, many of your debts will be discharged, and you will be given a fresh start. If you can keep on top of any new debts you incur after you emerge from bankruptcy, your credit record may actually improve.

3. Filing bankruptcy makes me a bad person.
Congress passed the bankruptcy laws to help individuals and businesses with severe financial problems get a fresh financial start and become productive members of society again. Do you think it makes you a better person to avoid your creditors, ignore your bills, and drive yourself further into a debt hole that you'll never get out of, or to take on new credit responsibly, and pay your bills on time? Millions of businesses and individuals file for bankruptcy each year and become productive members of society. I won't be able to get credit after my bankruptcy. Since many of your debts will be wiped out after bankruptcy, and, in the case of a Chapter 7, you won't be able to file another one for another eight years, many creditors may see you as a good credit risk after your bankruptcy.

4. A debt counseling service can help me eliminate my debts without the stigma of bankruptcy on my record.
Debt counselors cannot get rid of your debts, nor can they stop your creditors from harassing you. All debt counselors do is help you negotiate new terms on your existing debt with your creditors-your creditors do not have to agree to any restructuring, and they can still come after you for any unpaid balances. By contrast, the moment you file your bankruptcy case, many of your creditors are prohibited by law from taking any legal actions against you, and once your bankruptcy is complete, many of your debts are gone forever. Furthermore, credit counselors do not necessarily have your best interests in mind-they are often owned by the very creditors that are making your life miserable to begin with. Don't let their non-profit claims fool you-when you use a debt counselor, someone is making a lot of profit off you, and in most cases you will still be hopelessly in debt.

5. I won't be able to buy a house or a car, or rent an apartment, after bankruptcy.
Again, not true. As noted above in myth number 4, you should be able to get credit after bankruptcy. Although it may take you a little time to start purchasing things, you should be a good credit risk once you emerge from bankruptcy, and you shouldn't have too much trouble making these types of purchases. You can also get help in making these types of purchases, such as getting someone to be a co-signer for you.

6. I don't want to go through a difficult and time consuming court case.
Forget about jury trials, cross examination, and all of the other courtroom drama you see on TV. Inmost bankruptcy cases, you'll never appear before a judge, and in most Chapter 7 cases, your case will be complete and your debts discharged in about four months. Don't let these myths prevent you from taking control of your financial life.


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 Additional Information

Look through the links below to additional information about your rights on filing Bankruptcy. Once you have looked through the information then call the Law Offices of Roy A. Praver to setup your free bankruptcy consultation to determine if filing Bankruptcy is the correct step for you.
 Contact Us

If you are considering filing for bankruptcy, you do not have to make this decision alone. The Law Offices of Roy A. Praver can provide you with the help and support you need to handle your financial situation. Contact the Law Offices of Roy A. Praver today at 321-383-3445 to schedule a free initial consultation.

Titusville, FL Office
O: 321-383-3445
F: 321-268-9564

Prior to your appointment, we ask that you send us an email and briefly describe or list any questions you have about bankruptcy. Most of your questions can be answered from information provided on our website, but please feel free to contacts us. We are always here to help you.

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