Augusta, GA based Lee Ringler Law Offices is taking steps to educate local residents about bankruptcy and how they can navigate its various challenges. Since their team has close ties with the Augusta community, the firm would like to reach out to people in such situations and explain what bankruptcy is, what options are at their disposal and how the Lee Ringler Law Offices’ assistance can prove to be of great benefit. Lee Ringler and his team have already helped countless people with their bankruptcy issues, and they are keen to maintain this momentum.

In general, people tend to have a vague idea of what bankruptcy is and what it entails, and a critical issue lies in the fact that many of their beliefs are based in myth. As Ringler observes, “They say we live in the Information Age. Thus, many people know a little bit about bankruptcy (maybe from surfing on the web or Googling too much), or sometimes because they went through a case, or they knew someone who did. More often, it’s because they heard from a friend who heard from a friend and so on. You get the idea. Like most rumors, most of the information is either half-true or just plain wrong, and some of it can be disastrously wrong. During my long career in bankruptcy court, I have compiled a list of some common misconceptions.”

Some believe that bankruptcy means they will not be able to get credit again for a decade. This is untrue for most people, and over the past 10 years over a million people have filed bankruptcy. A credit report may reflect a bankruptcy for 10 years, but most people can apply for financial aid as usual almost immediately after their bankruptcy period ends. Lenders may charge higher interest rates, and it may be slightly more difficult to get anything done financially for a while — but bankruptcy is most often not the 10-year financial death sentence people seem to think it is.