Common Bankruptcy Myths Debunked
Insights from an Oklahoma City Bankruptcy Attorney
Many individuals hesitate to file for bankruptcy out of fears borne out of misinformation, especially when there is so much conflicting information to be found online. Well-meaning friends and family members can throw in their two cents, which can lead to more confusion and indecision. At Alexander Hilton & Associates, we wish to be a reliable source of information for all our clients. To better serve the needs of our clients, our Oklahoma bankruptcy lawyer has debunked some common bankruptcy myths below for your benefit.
We offer free, confidential consultations. Schedule yours today by calling (405) 725-1441.
Myth 1: I will lose my home or car if I file for bankruptcy.
This is not always the case. Several items are exempt when filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy. Homes, vehicles, furniture, and wages are just some of the items that can be considered exempt.
Learn more from our helpful blogs:
Myth 2: I can file for bankruptcy on my own, without a lawyer.
Filing for bankruptcy on your own is highly discouraged. Doing so increases the chances that your petition will be denied or delayed. Hiring legal representation can help you avoid making a misstep. Our Oklahoma City bankruptcy lawyer can explain the Do's & Don'ts of bankruptcy.
Myth 3: I will be stuck with bad credit for the rest of my life.
By the time most individuals reach the need to file for bankruptcy, their credit score is already bad. Filing for bankruptcy affords them the chance to start over so they can begin rebuilding their credit score and regaining their financial health.
Myth 4: I will lose my personal assets and retirement savings.
In certain instances, bankruptcy allows you to keep 100% of your qualified retirement savings, including a 401K. Cases vary, which is why it is best to seek the guidance of a skilled Oklahoma bankruptcy attorney.
Need more information about filing for bankruptcy? Take a look at our Frequently Asked Questions page.
Insight Backed by 20+ Years' Practicing Bankruptcy Law
Since 1990, our bankruptcy firm has guided hundreds of individuals towards the path of a debt-free life. We have the resources and legal insight to help you file for bankruptcy as quickly and effectively as possible. Alexander Hilton & Associates can get you through this financial challenge so you can move on to the next chapter of your life.
If you are considering bankruptcy, we encourage you to give our Oklahoma City bankruptcy firm a call at your earliest convenience.
What Sets Us Apart
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Representation From a Law Firm With One of the Highest Client Satisfaction Ratings in the State.
Our dedication to client success has earned us top satisfaction ratings, ensuring you receive trusted, results-driven legal support.
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Personalized Attention From Start to Finish.
We take a hands-on approach to your case, providing direct support and tailored legal guidance every step of the way.
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Affordable Chapter 7 Bankruptcy Payment Options.
We offer flexible payment plans to make Chapter 7 bankruptcy more accessible, helping you move forward without added financial stress.
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Evening and Weekend Appointment Availability.
With evening and weekend appointments, we make it easy to get the legal help you need, on your schedule.
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After years of struggling w/deriorating health due to a series of heart attacks,I struggled with trying to maintain my chiropractic practice and remain current with my current obligations. The struggle became unbearable with the COVID 19 shutdown and I really don't know what I would have done without the very capable counsel of Atty.Alex Hilton. I was interviewed at length,explained what was expected of me and told how to collect the necessary documents. I will be forever grateful for the compassion and expertise demonstrated by this law firm .Thomas Joyce
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A wonderful, professional attorney who cares! Recently we were at our darkest moment, financially speaking. However, Mr. Hilton clearly explained our legal rights and obligations and demystified the bankruptcy process for us. No surprises at all -- I could not recommend him more highly!Aaron
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Calling Alex was the best decision we have made!!! We were in a bad situation and had previously recieved some bad advice that made our financial situation even worse. Alex agreed to meet us the same day we called him and he even stayed late to do so! After looking over our mess, he gave us his advice and he answered EVERY SINGLE QUESTION we had! The rest is history! He did everything he said he would!! If you need help and are looking for a bankruptcy attorney, then look no further!! Call Alex today! You will not regret it!Kenna
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Our case was complicated and our situation was dire. I was a nervous wreck. Mr. Hilton assured me that once I stepped foot in his office that our problems because his problems and to no longer worry about it. Of course we are only human so that wasn’t possible however, true to his word he took our case, which wasn’t just a straight forward easy chapter 7, and got it sorted out and got our discharge. I would HIGHLY recommend him.Steven
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My mother and I have used Mr. Hilton's services on two separate occasions, and we cannot say enough good things about him -- as an attorney, and as a person. He is approachable, polite, transparent about his business practices, sympathetic to each client's particular financial situation and, of course, very knowledgeable about the laws pertaining Chapter 7 bankruptcies. Whenever either of us had a question about the process, he answered our queries thoroughly, making sure we understood everything we needed to before moving forward. Subsequently, what could have been nightmarish ordeals for us both instead were handled with relative ease and care. If you are looking for someone to help you get back on track financially without judgment or the fear of being overwhelmed by what can be an arduous and costly process, then Alex Hilton is your man.Khan
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My wife was so nervous to file bankruptcy and Mr. Hilton talked with her and gave her the history of bankruptcy and the reasoning that is was the right thing to do in our case which set her mind at ease. Mr. Hilton is always there if we have questions and always quick with return emails and phone calls. Even months after everything is finished he is still there for us. Cannot recommend this man highly enough to do him the proper justice.L & M Johnson
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It's been almost a year since Mr. Hilton saved us from a desperate situation. He helped us overcome an incredible burden and helped relieve a tremendous amount of financial stress we were dealing with on a daily basis. Personally, I was terrified and overwhelmed and he helped make an impossible situation manageable and he did so with patience and extreme kindness. He answered all of our questions and was always prompt with returning phone calls. The entire process was seamless for us and we couldn't have asked for a better attorney to represent us during the bankruptcy process.M&S B.
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After having a flake for our 1st attorney, Alex Hilton turned our case around and got us amazing results. He worked hard on our mess of a Chapter 13 case. I will recommend him to anyone I know that is in need of a Bankruptcy Attorney. He is kind , compassionate and doesn't mess aroundFormer Client
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