Personal Injury & Bankruptcy Lawyer in Mechanicsville, PA

Filing as Married Couples

Many people believe that married couples must file for bankruptcy together, but that is not the case. If a loved one has debts of his or her own, then that person needs to take care of those debts independently. A married couple may need to file together if the debts are in both your names. The law surrounding married couples and bankruptcy can undoubtedly get confusing, which is why you will need a Mechanicsville bankruptcy lawyer to represent you in court.

Bankruptcy Kills Credit Permanently

Bankruptcy does not kill credit permanently under any circumstance. There will be limited access to credit for as long as your bankruptcy is on your report. Still, you might be surprised to see how quickly your credit starts to improve once you file for bankruptcy. The fact is that your credit will be far from permanently damaged if you file bankruptcy. Things may be a little tough and restricted at the beginning, but this is the way forward if you want your credit to improve in the long term.

Bankruptcy Discharges All Debt

Bankruptcy may discharge some of the debts that keep you awake at night, but in no way is it guaranteed to clear all of your debt. Chapter 7 bankruptcy may eliminate many of your unsecured debts, such as medical bills, credit card charges, and personal loans. But there is no promise that all your debt will be removed, so you have to prepare yourself to pay back some debts through a structured repayment plan. Bankruptcy lawyers are there to help you understand all this, so you don’t make significant mistakes.