Bankruptcy Myths

You may have suffered for months, worrying about paying your bills, your financial situation, and phone calls and threatening letters from creditors. Your worst fears may concern the future. If you are uncertain about what lies ahead, contact Jeffrey P. White & Associates, P.C.

The bankruptcy laws exist to help those whose debt has become overwhelming, whatever the reason. The law seeks to balance the interests of your creditors and you. So it is complicated, and several bankruptcy myths may cloud your thinking about the options.


Many people still see filing bankruptcy protection as a sign of failure or unethically getting out of debts they should pay. Nothing could be farther from the truth. The bankruptcy laws have existed since the founding of the nation; they allow people and companies that have found themselves in impossible situations to start over. Filing for bankruptcy is a respectable and wise decision.

Do I Qualify?

Not too long ago, the bankruptcy laws were amended. It is now more complicated to obtain protection under Chapter 7. But the vast majority of people still qualify. Even if you do not qualify under the means test for Chapter 7, Chapter 13 can provide you with a way to keep your home, discharge much of your debt, and gain financial stability.

Obtaining Credit

You may be surprised to find offers of credit almost immediately after you have filed. Why? Because if you still have an income and your debts have been reduced, you have available funds with which to pay new debt. However, be careful in accruing new debt. Use credit carefully in order to show your credit-worthiness.

I am Jeffrey P. White, and I have been a bankruptcy attorney for over 25 years. I have had my own bankruptcy law practice since 1984, serving Portland, Lewiston, and Auburn, Maine, and can advise and represent you to help you. Contact a lawyer online or call 207-536-6224.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.