Will I lose everything if I file bankruptcy?

Attorney Fred Boyk is sharing valuable information in our recent edition of The Boyk Bulletin. He answers the question that he receives on a daily basis from individuals who are seeking information regarding their financial well-being.

Filing Bankruptcy: Will I Lose Everything?

There are many, many people who find themselves held down by financial commitments that they cannot make. These types of bills and payments included the following, for example:

  • Credit card payments
  • Medical bills
  • Auto repossession deficits

Attorney Fred Boyk helps people who have found themselves in a difficult situation when it comes to their finances. He sits down with them, reviews their entire financial situation, and oftentimes comes to the conclusion that filing a Chapter 7 fresh start bankruptcy is their best option.

One of the major things that these people then ask Attorney Fred Boyk is if they’ll lose everything by filing Chapter 7 bankruptcy. Will everything you’ve worked for your entire life be gone?

Filing Chapter 7 Bankruptcy: The Reality

Fortunately, Attorney Fred Boyk’s response to these individuals wondering what will happen after filing Chapter 7 bankruptcy is that in reality, most clients lose NO tangible possessions after filing bankruptcy.

Fred explains that bankruptcy laws can be complex. There are some people who think that they can “go it alone” when going through this type of situation, or use a petition preparer found on the internet to help guide them, but this is NOT recommended. Many of those people who do not seek proper guidance later suffer regret as they can lose assets or become overwhelmed with paperwork involved with the bankruptcy process.

Help With Filing Bankruptcy

If you believe that bankruptcy is an option for you, we urge you to contact an attorney to consult you with the process. This is a serious matter that requires a professional to ensure everything is done properly.

Our office has experience in representing individuals in over 2,500 discharged cases and we can help to guide you as well. Call 419.241.1395 to speak to Attorney Fred Boyk about filing bankruptcy, or fill out the online contact form and we will get in touch with you.

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