Kansas City Area Bankruptcy Firm
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Restore Your Credit, Reclaim Your Life Bankruptcy Firm Serving Kansas City & The Surrounding Areas
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Bankruptcy Myths

Our Kansas City Area & Johnson County Attorneys Help Put You at Ease

Bankruptcy comes with a number of negative myths and stereotypes. More often than not, clients come to our firm with concerns about their credit, their assets, and their future based on well-known myths that are completely untrue.

Let us help you dispel some of these myths. Read more below or contact our Johnson County & Kansas City bankruptcy lawyers at Moore & Associates, LLC to discuss your case during a free consultation.

Myth 1: I will never be able to borrow money again if I file bankruptcy.

Our disciplined clients that take steps to re-establish their credit have been able to increase their FICO scores in the 650-700 range within 2-3 years of filing. You can immediately begin to re-establish your credit after you file. In a Chapter 7 case you have to make on time payments on reaffirmed debts and in a Chapter 13, you have to make on-time payments in your plan and set up a post filing trade line (secured credit cards work really well), in order to rebuild your credit and get good rates when you borrow in the future.

Myth 2: I will lose all of my assets if I file bankruptcy.

The majority of filers do not have to surrender any assets or personal property. Kansas and Missouri have exemptions that protect you from creditors and most filers are able to set up an affordable plan to payoff car loans and other secured debts.

Myth 3: I need money to pay a lawyer to find out about or receive bankruptcy protection.

At Moore & Associates, LLC, not only do we offer free initial consultations, but clients may also retain our services for no cash upfront. Chapter 13 petitions can be filed in with no cash at the time of filing if you can make your Chapter 13 payments by wage withholding. You can retain one of our Kansas City or Johnson County lawyers to file a Chapter 7 case for as little as $100 upfront and make payments for court costs and other fees prior to the filing.

Myth 4: I have to pay all of my debts back if I file Chapter 13.

For the vast majority of filers the same debts that can be discharged in Chapter 7 can also be discharged in Chapter 13. It depends on your income level and the amount of assets that you have. Most people use Chapter 13 to pay off the debts that are not dischargeable like car loan, mortgage, taxes etc. Come in for a free consultation and one of our Kansas City and Johnson County Attorneys can help you draft an affordable plan to get your finances back on track.

Myth 5: My credit will be a mess for at least 7 years after my bankruptcy.

Bankruptcy is a process to help you create a solid credit foundation. Depending on what your credit score was when you filed, you could see your score exceed 650 within two to three years. If your credit was already damaged, bankruptcy will have little effect. If you are proactive and file before you get substantially behind on your bills you should be able to get your FICO score back up significantly faster, usually within one to two years. However, you must take the appropriate steps to rebuild. At your initial consultation with one of our Kansas City and Johnson County attorneys we will explain the most efficient way to get your credit back on track.

Myth 6: I am a terrible person if I file bankruptcy.

Many individuals and families file bankruptcy every year in order to ensure that their households remain financial viable. Many people have financial issues sometime in their life. Your current financial situation does not define who you are or your worth as a person.

Myth 7: I cannot file bankruptcy if I make too much money.

All individuals and families have the right to file bankruptcy. The amount of income and assets that you have can impact how your debts are treated or which chapter you can file. Even if you are a high income filer, bankruptcy can put you in a position to hit the reset button, stop the creditor harassment and get yourself back on track.

Myth 8: I cannot file if I have a job.

Not at all, in fact the bankruptcy code favors filers that are employed and in a position to receive their fresh start and have the steady income necessary to allow them to prosper after filing.

Myth 9: If I file bankruptcy and my spouse does not, it will hurt the non-filing spouse’s credit.

When only one spouse files for bankruptcy, it will not affect the non-filing spouse, and, in some instances, can be advantageous. A single spouse may file even with joint debts, where both partners are liable, in certain circumstances. Our Johnson County bankruptcy lawyers can review your situation and make sure you know all of your legal options.

Rave Reviews from
Happy clients

  • Thank you and Hill.

    “Thank you and Hill, for getting us through this process. If we know of any family or friends that need representation, we will direct them your way.”

    Mrs. Smith

  • Your entire staff has been very helpful.

    “Your entire staff has been very helpful, courteous and prompt with every question or need that I had. The entire process has been seamless and quiet smooth. It has been a pleasure working with all of you.”

    Mrs. S

  • Robin and the firm are heaven sent!

    “Good morning Robin. You and the firm are heaven sent. I can't thank you enough and I mean that from the bottom of my heart. I can truly see light at the end of tunnel and me finally getting my life back on track. Thank you thank you thank you!!! ”

    Mr. C.

  • Mr. Moore thank you for your assistance.

    “Mr. Moore thank you for your assistance today. This is a true blessing towards a new beginning for our family. We look forward to working with you to better our financial situation. Thank you and God bless.”

    Mrs. R.

  • You showed impeccable character and integrity and I am forever grateful!

    “It's been a couple of years now since I completed my bankruptcy but I feel compelled to leave a review for Mr. Moore and his entire staff. This a judgment free place. They held my hand, explained the entire process to me each step of the way, and answered every single question I had. Make no mistake, the decision to file is difficult, but when you have a firm like this in your corner, they become your protectors and will do just that. No more creditors calling all hours relieved my anxiety and the payment plan was so easy. Please, accept my sincerest gratitude, Mr. Moore. You showed impeccable character and integrity and I am forever grateful.”

    Lisa H