BANKRUPTCY MYTHS: It’s hard to file for bankruptcy.

Experienced Arizona Bankruptcy Attorney. Phoenix Bankruptcy Lawyers. Bankruptcy Myths.
While a bankruptcy petition is a daunting document that can be over 60 pages long, the documents your attorney will need from you to file your petition is much more reasonable. Certain factors, like being married or recently divorced, only receiving social security income, and being involved in a lawsuit may cause you to need to turn over more documents to your attorney and bankruptcy trustee. However, if you have important documents available such as your tax returns and six months’ of paystubs, the process will go much easier.
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BANKRUPTCY MYTHS: Only the financially irresponsible file bankruptcy.

Free consultation with Phoenix Bankruptcy Attorney. Bankruptcy Myths.
Some people do file bankruptcy because of financial irresponsibility. If your first question during a bankruptcy consultation is, “How soon can I file again?”, you might be one of those people. However, most of the clients we see are considering bankruptcy because of uncontrollable life circumstances or understandable but bad judgments. One of the most common reasons we see people file for bankruptcy is because of medical bills. Serious illnesses are not only expensive, but can cause you to miss work.
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BANKRUPTCY MYTHS: Married couples will both have to file bankruptcy.

Helping couples file bankruptcy
This simply isn’t true. If you are married, you still have the option of filing singly. If you accrued most of your debts before you got married, and your spouse doesn’t have much debt on their own, their only involvement in your bankruptcy will be supplying information, such as paystubs. Their income will still count towards yours for the purposes of income qualification for a Chapter 7.
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BANKRUPTCY MYTHS: It’s too late to file bankruptcy if you’ve been sued.

bankruptcy helps to stop a lawsuitThis is a false statement.  One of the best times to file for bankruptcy is after you have been sued. No matter where in the process of a law suit a creditor may be against you, filing chapter 7 or chapter 13 bankruptcy can give you relief from a law suit, a sheriff’s auction, a judgement, or a wage garnishment.
Additionally, declaring bankruptcy will stop whatever law suit you have against you for an unpaid debt. Once you file for bankruptcy protection an “Automatic Stay” goes into play.  This protection under Section 362 of the Bankruptcy Code is a very powerful provision.  Thus, the Automatic Stay makes all collection activities to immediately cease.
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BANKRUPTCY MYTHS: Debt negotiation companies work better than bankruptcy attorneys

Why do you need an attorney to file bankruptcy? Bankruptcy Myths. Phoenix Bankruptcy Lawyers.

Phoenix Bankruptcy Attorneys

This is a myth!  Actually, our Phoenix bankruptcy attorneys have found in several cases that most debt negotiation and debt consolidation companies are nothing more than a scam and not beneficial to the lender.  Additionally we noticed that many of these companies ended up doing nothing more than completely ruining the credit of those who have used them.  Good debt negotiation companies are a rare find.
 
A lack of regulation is what we believe is the problem with a lot of the Debt Consolidation and Debt Negotiation companies.  Conversely, Phoenix bankruptcy attorneys are governed and regulated by Federal Bankruptcy Laws, The Bankruptcy Court, and The Arizona State Bar.  These regulatory agencies are in place to protect you the consumer from potential “scam” debt relief companies.  
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