Bankruptcy Myths and FAQ

At The Pearman Law Firm, we want you to know the reality about bankruptcy. We make it a priority to inform our clients about the benefits of bankruptcy and let them know that we are here to help. Continue reading to learn more about common bankruptcy myths and find out answers to commonly asked questions about consumer bankruptcy in Colorado.

Common Bankruptcy Myths

Unfortunately, there are a number of misconceptions about consumer bankruptcy. Some of the most common myths include:

  • I will lose everything I own if I file for bankruptcy.
  • Everyone will know that I have filed.
  • Filing for bankruptcy is embarrassing and only happens to bad people.
  • There is no way to keep my home if I file for bankruptcy.
  • Creditors will continuously call me.
  • It will take years to rebuild my credit.
  • There is no way to keep my house.

Bankruptcy Information and FAQ — What You Need to Know

Have questions about bankruptcy? Get the answers you need below.

If I'm married, does my spouse need to file or can I file separately?

You can file alone or with your spouse. Depending on your situation, it may be best if both spouses file. We can help educate you about the benefits and drawbacks to having both spouses file and determine what is best for your particular situation.

Do I have to list all my debts when I file for bankruptcy?

Yes, you need to list all debts on your bankruptcy. With bankruptcy, it's all or nothing. Our team will help make certain that all your debts are listed appropriately in the bankruptcy, so the likelihood of the petition being approved is high.

Do I need to work with an attorney? Can't I file on my own?

You can file on your own, but the Bankruptcy courts recommend that you work with a lawyer. If your petition is not prepared properly, the bankruptcy may not be approved. Also, you need someone who understands Colorado exemptions to help you in preparing your bankruptcy. Working with a bankruptcy attorney is always in an individual's best interest.

Filing Bankruptcy in Jefferson County? Attorney Can Help

If you find our bankruptcy myths and FAQ helpful, learn more about our services. You can turn to the legal team at The Pearman Law Firm for support and guidance. To schedule a consultation with a bankruptcy lawyer at our Wheat Ridge firm, contact us at 720-259-9528 or 888-835-6339.