I Heard That ... I'll Lose All My Property
For most people this is just flat wrong.
Keep in mind a critical thing: Bankruptcy is not about punishment. Bankruptcy is meant to help you get a fresh start. It is not there to punish you for not paying your bills anymore.
In bankruptcy there is the possibility of losing property in different ways but it does not happen automatically or to most people. There are precise rules when and how this can happen. And for most, going through bankruptcy usually means losing nothing at all.
Making sure you get through the case and keep what you need is what your lawyer does. This is the first and most important thing a lawyer does -- make sure you aren't risking anything you are not willing to risk.
Keep in mind a critical thing: Bankruptcy is not about punishment. Bankruptcy is meant to help you get a fresh start. It is not there to punish you for not paying your bills anymore.
In bankruptcy there is the possibility of losing property in different ways but it does not happen automatically or to most people. There are precise rules when and how this can happen. And for most, going through bankruptcy usually means losing nothing at all.
Making sure you get through the case and keep what you need is what your lawyer does. This is the first and most important thing a lawyer does -- make sure you aren't risking anything you are not willing to risk.
10/11
