Bankruptcy Myths

Common Bankruptcy Myths

At times, people believe that there is a moral stigma associated with bankruptcy. However, that is a fallacy. That stigma is perpetuated by individuals with an interest in seeing people not file for bankruptcy, like banks and lenders. The Bankruptcy Code is actually in place for another reason – for the unfortunate individual who needs a fresh start on life.

At our law firm, Atlas Consumer Law, we work hard to put our experience to use in each of our clients' cases. Located in Lombard, Illinois, our law firm serves clients throughout Chicago and the surrounding areas.

Contact our office to learn about bankruptcy by calling us at (312) 313-1613.

Demystifying Bankruptcy Myths

Everyone has heard myths about bankruptcy, and we want to challenge those myths by separating fact from fiction:

I make too much money to file for bankruptcy.
False. There is technically no limit on earning for those filing for bankruptcy. It is important to understand that many of our clients are educated, have multiple assets and are not a basic Chapter 7. We handle complex Chapter 7 cases for our clients.
I will lose everything.
Untrue. You will not lose everything if you file for bankruptcy.
Bankruptcy is for irresponsible, bad or poor people only.
Untrue. People from all income levels have filed for relief through bankruptcy.
I will lose my right to and control over my assets and finances if I file for bankruptcy.
Untrue. You are protected by the Bankruptcy Code. It protects you from actions that are taken against the debtor that could harm him or her.
If I file for bankruptcy, my credit will be ruined forever.
Untrue. Bankruptcy will stay on your credit for seven to 10 years. In fact, unpaid and delinquent debts will harm your score more than a bankruptcy. Through the responsible use of credit, it is possible to improve your score quickly. Using a single, low-limit credit card to pay for expenses like gas is an effective way to improve your score. However, you must make your payments every month, and you cannot carry a large balance.

When you work with us, you can have peace of mind that your case is in good hands. Request an assessment of your case today!

Hear From Our Satisfied Clients

Reviews & Testimonials

At Atlas Consumer Law, your satisfaction is our priority! See for yourself what our clients have to say about working with us.

"I was so stressed out, found Atlas Consumer Law & gave them a call!"
I had absolutely NO exceptions going forward with my lawsuit against a company that harassed me for payment! I was at the ...

- Pam S.
"So Helpful & Responsive!"
Everyone at Atlas was so willing to help and so responsive. I'm so grateful for the work they put in on my case! Would highly ...

- Stephanie M.
"Results Fast!"
THEY GOT RESULTS FAST FAST FAST!!!

- Jake B.
"Can Do Attitude All the Way!"
Atlas consumer Law is amazing and they have the CAN DO attitude and will do anything to get the job done.. I highly recommend ...

- Donnie P.
"Thank you for educating me about my rights as a consumer!"
The Atlas Consumer Law Group is Awesome. They promptly took care of my issue with a creditor who tried to ignore my rights as ...

- Belinda W.
"Absolutely Amazing!"
I am absolutely AMAZED at this law group! I started a case in March and got it solved in early May! The debt collector was ...

- Aline G.
"Atlas Consumer Law Goes Above & Beyond!"
Atlas helped us within 6 months more or less and they were an awesome team. I would definitely recommend Atlas Consumer Law ...

- Llyod G.
"Atlas Consumer Law is on Your Side!"
When you need the law on you side call Atlas!

- Arlene B.

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