Total Bankruptcy Video Library
Whether it's Chapter 7 bankruptcy or a Chapter 13 bankruptcy plan, filing bankruptcy may very well offer you the financial fresh start that you so deserve. With that said, a lot of people are misinformed about the bankruptcy process.
Misconceptions about bankruptcy run rampant today, from the alleged stigma that comes with filing to the ability to even file nowadays to much more. The bankruptcy videos below aim to dispel common bankruptcy myths and equip you with the information you need to learn more about filing.
How to Ruin Your Credit
Just as a lot of information out there about bankruptcy is flat-out wrong, so are some of the suggested methods of how you can avoid financial traps. This sarcastic bankruptcy video is a sure-fire way to trash your credit. In other words, take this bankruptcy video as a lesson of what not to do when it comes to your finances and credit.
Bankruptcy Myth #1: Filing Bankruptcy Makes You a Bad Person
Filing bankruptcy has been inaccurately painted in the media as being an awful and drastic decision, sort of like a black cloud that will hang over your head for years. However, playing off of this fear fails to recognize that filing for bankruptcy reflects a responsible decision to enact a positive change in one's life, as Chicago bankruptcy lawyer and Total Bankruptcy President Kevin Chern explains in more detail in the following bankruptcy video.
Bankruptcy Myth #2: It's Impossible to File after the 2005 Law Change
In 2005, changes to the bankruptcy law were made, and the unfortunate feeling afterwards is that is impossible to file for bankruptcy nowadays. While the 2005 bankruptcy law added new requirements to both consumers and bankruptcy lawyers, it is hardly far from impossible to file bankruptcy nowadays. In fact, bankruptcy filings are back on the rise and getting closer to pre-BAPCPA levels. Chicago bankruptcy attorney and Total Bankruptcy President Kevin Chern disputes this myth in the following bankruptcy video.
Bankruptcy Myth #3: Filing Bankruptcy Will Ruin Your Credit Record
Subscribers to the myth that filing bankruptcy will ruin your credit record forget that people have no outstanding debt after filing and that they may actually look like a better risk to a creditor or lender. Chicago bankruptcy attorney and Total Bankruptcy President Kevin Chern explains how your credit may actually improve after filing bankruptcy in the following bankruptcy video.
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Bankruptcy Myth #4: You Can't Buy a Home after Filing Bankruptcy
Filing bankruptcy does not have to mean the end to your dream of homeownership. Chicago bankruptcy attorney and Total Bankruptcy President Kevin Chern explains in the following bankruptcy video what banks consider when providing financing to prospective homeowners and then details how he's seen post-bankruptcy filers get financing for a home as soon as 18-24 months after filing.
Bankruptcy Myth #5: You Can't Get Credit after Filing Bankruptcy
Did you know that recent studies have indicated that people who have filed bankruptcy receive three times as many credit card solicitations than people who have not filed bankruptcy? This would seem to turn the myth that you can't get credit after filing bankruptcy right on its head, as Chicago bankruptcy lawyer and Total Bankruptcy President Kevin Chern further depicts in the bankruptcy video below.
Bankruptcy Myth #6: Filing Can't Help with Your Student Loans
While most student loans can not be discharged through a bankruptcy case, this does not mean that filing can't help. Chicago bankruptcy attorney and Total Bankruptcy President Kevin Chern explains in more detail in the following video.
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Bankruptcy Myth #7: Filing Means a Long Court Case
A bankruptcy case is not like the court cases you typically see on television. Chicago bankruptcy attorney and Total Bankruptcy President Kevin Chern explains in the following video how most bankruptcy cases are not long, drawn-out processes.
Bankruptcy Myth #8: You Can't Rent an Apartment after Filing Bankruptcy
Renting an apartment is still a possibility after filing bankruptcy. Chicago bankruptcy attorney and Total Bankruptcy President Kevin Chern provides some tips in the following video on how can rent an apartment after bankruptcy.