Bankruptcy Myths

Mary Beth Ausbrooks - bankruptcy - Super Lawyers

About Mary Beth Ausbrooks

Rothschild & Ausbrooks, PLLC
1222 16th Avenue South , Suite 12
Nashville, TN
Phone: 615-242-3996
Fax: 615-690-3119

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Selected To Super Lawyers: 2014, 2019
Selected To Rising Stars: 2010 - 2011

Video Transcript 

[MUSIC PLAYING] MARY BETH AUSBROOKS: With changing bankruptcy laws, people often get misinformation about bankruptcy. I'll explain a few of those myths to you so you know your options.

Some people believe that if you're working you can't file Chapter 7 bankruptcy. That simply is not true. While the qualification test is a little more difficult, there's a lot more information that has to be given in order to determine whether or not you qualify for Chapter 7. Here at Rothschild & Ausbrooks, we will navigate you through that income process. And if you qualify for a Chapter 7, we will afford you that opportunity to get that fresh start that you need.

Some people believe that if you file Chapter 13 bankruptcy, you have to repay all of your debts. Simply is not true. There are different rules on how different debts have to be paid back. Our experienced lawyers at Rothschild & Ausbrooks know those rules. We will calculate a plan for you. But it does not involve the repayment in full of all of your debts.

Filing for bankruptcy will impact your credit score. The fact that you file bankruptcy will stay on your credit report for 7 to 10 years, depending on the chapter you file. However, filing for bankruptcy is the first step in rebuilding your credit.

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