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Debunking Common Bankruptcy Myths

Insight from Seasoned Charlotte Bankruptcy Lawyers

Easily one of the most misunderstood subjects by consumers in America, bankruptcy has been the subject of varying opinions over the years. Some believe it's a surefire way to eliminate all debt, while there are those who remain skeptical.

Whatever side of the fence you're on, it's best to have a clear understanding of bankruptcy, especially if you're considering filing. At Saffa Law Firm, our Charlotte bankruptcy attorneys are extremely familiar with the ins and outs of this financial solution. Trust us to lead the way toward the fresh start you need!

Changing Your Opinion of Bankruptcy

We believe that for many people, filing for bankruptcy is the best way to recover from debt, creditor harassment, and other financial problems.

The following myths may give you a better idea of whether filing will benefit your circumstances:

  • Bankruptcy is a sign of financial irresponsibility
    • Given today's economy and the number of bankruptcy filings, the public perception of bankruptcy has drastically changed. People now understand how, more often than not, people need to file for bankruptcy due to circumstances beyond their control (i.e. job loss, health issues, etc.). In fact, most understand how filing for bankruptcy is, often times, the more responsible thing to do in order to get a family's finances back on track as soon as possible.
  • Filing for Bankruptcy means you lose all your assets and property
    • Over 95% of our clients are able to file for bankruptcy and keep all of their property. This is because when you file for bankruptcy, the law allows you to designate a certain amount of property as "exempt" (i.e. protected). Property that you claim as exempt cannot be sold off to repay your creditors. Through the use of the applicable exemptions clients are usually able to keep all of their property.
  • Filing for Bankruptcy means I'll loose my house or car
    • This is another very common misconception. You can file for bankruptcy and keep any homes or cars you want.
  • Bankruptcy forever ruins your credit
    • This could not be farther from the truth. Most clients are able to get credit immediately after filing for bankruptcy. In fact, most are solicited for credit cards while their bankruptcy case is still pending! For clients who need car loans, we keep a list of dealers who specialize in financing clients who are going through a bankruptcy. Also, there are steps you can take to get your credit score over 700 within 1-2 years following your bankruptcy.

Call Now for Counsel Backed By 30+ Years' Experience

If your opinion of bankruptcy has changed for the better, it might be the right time to get in touch with our firm. We offer solutions to our clients that are based on prior knowledge and experience. With our comprehensive support, you're never on your own throughout the bankruptcy process.

Give us a call today to schedule your complimentary consultation.
We look forward to hearing from you!

Turn to Saffa Law Firm for Advice

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Helping Clients Across Charlotte

See How Saffa Law Firm Has Guided Clients Through Their Legal Matters
  • “They are responsible, professional and most important, they get the job done right.”

    Francine K.

  • “A+ recommendation.”


  • “Diana Saffa is an incredibly intelligent, clever, and hard-working attorney. She won't take "no" for an answer and she gets results.”


  • “Diana is so down to earth and does an excellent job. My bankruptcy was smooth and easy.”


  • “Love this lawyer She knows her Stuff!!!”

    Stanley Hunter

  • “I was unemployed suddenly with a huge amount of credit card debt. Within a couple of months I was debt free!”


  • “...they are very knowledgeable and professional.”

    C. Sandifer

  • “She was incredibly well organized and I felt very secure in knowing I was in good hands.”


  • “I was never once left second-guessing my decision to have them represent me.”


  • “They helped me keep my residence, automobile, and work with my creditors as I worked to pay them.”

    Arnold S.

  • “Diana is the BEST there is!!!”

    Kelley Sheehan

  • “The kindness and attention I received from Diana is unmatched from any other legal experience I have ever had.”


  • “With Diana's knowledge and friendly attitude, she eased my fears and unrest.”
  • “My husband and I didn't know where to turn”

    Porcha Petteway

  • “I can't explain how satisfied I am with the service I was provided! Diana is such an intelligent force!”