What do you know about bankruptcy law? Although there are many excellent resources on the subject, there are also a lot of misconceptions about the filing process and its aftermath. Fortunately, you don’t have to decipher all the local statutes and regulations by yourself. If you want to learn more about bankruptcy law, simply turn to Steven P. Ciardiello Esq., PC. Below, he shares just a few reasons to research the subject with his help.

Dispel Any Misconceptions

If you declare bankruptcy, it does not necessarily mean you will never secure a mortgage or that you’ll lose all the property you have acquired. Those who research bankruptcy law will quickly learn these are just some of the most common myths regarding this practice area. They will also learn how to avoid some of the more negative consequences of filing. For example, if you’re concerned about losing any assets, an attorney might recommend filing for chapter 13, which is a kind of reorganization of debt, as opposed to chapter 7, which is often called liquidation bankruptcy.      

Weigh All the Options

If you are in an overwhelming amount of debt, it probably feels like an anchor weighing you down. Money may not buy happiness, but it can certainly provide the means to pursue the things that make you happy. Although some debts are nondischargeable through bankruptcy, filing can be a valid way for many people to regain their financial footing. By researching bankruptcy law, you will learn which options are available to you and which will provide the relief you desperately need.

If you want to discharge applicable debts or at least learn how bankruptcy might apply to your situation, turn to Steven P. Ciardiello Esq., PC. Based in Hamden, CT, this seasoned attorney helps clients resolve financial issues and navigate major transactions, including real estate. Visit his website to explore all his practice areas, or call (203) 248-8000 to schedule an initial consultation with a bankruptcy lawyer.