Bankruptcy Misconceptions Debunked: Separating Fact from Fiction - with Jeffrey Peltz

Divorce Dialogues

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"Well, I want to do something that could help the ordinary person. I never wanted to get into law to work for a big corporation. Helping people is what I care about." - Jeffrey Peltz Jeffrey Peltz, a seasoned Brooklyn-based attorney with nearly four decades of experience, seeks to change the narrative surrounding bankruptcy by emphasizing its role as a strategic financial tool rather than a moral failing. With a compassionate approach that prioritizes clients' needs over corporate interests, Peltz argues that bankruptcy should be seen as a business decision, not a source of shame. He highlights the common misconception that bankruptcy should be avoided at all costs, noting that this belief often leads individuals to make damaging financial choices, such as depleting retirement funds or falling for scams. By offering personalized guidance and treating clients like family, Peltz strives to demystify the bankruptcy process, helping individuals understand that it can offer a fresh start, particularly in the context of divorce and other financial challenges. Key Takeaways ->Viewing bankruptcy as a business decision rather than a source of shame is crucial for guiding clients through financial difficulties. ->Certain debts like spousal support, child support, student loans, taxes, parking tickets, penalties, and court charges are not dischargeable in bankruptcy. ->Bankruptcy can be a first step towards rebuilding credit, with FICO scores potentially increasing by an average of 100 points over a year. ->Common misconceptions about bankruptcy include the belief that it is a personal judgment or a black mark on one's character. ->Bankruptcy hearings are now conducted via Zoom due to COVID-19 restrictions, providing convenience for clients. Connect with Jeffrey Peltz: https://www.aaalawyer.com/ https://www.linkedin.com/in/jeffreypeltz/ Connect with Katherine Miller: https://www.linkedin.com/in/kemiller1/ https://miller-law.com/

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