There are many myths surrounding filing for bankruptcy. However, most stigmas of the past are no longer relevant. At Jimmy E. McElroy & Associates, we understand that people struggling with debt are not “bad” or irresponsible. These days, most people facing bankruptcy have lost a job, or experienced a divorce, business failure or illness.
Putting Bankruptcy Myths To Rest
If you are facing serious financial distress, do not let myths, concerns and questions prevent you from making a fresh start. Our attorneys will put the following bankruptcy myths to rest:
- I will lose my belongings: False. Bankruptcy actually allows you to keep certain property or personal assets by claiming them as “exempt” under state and federal bankruptcy laws.
- I will never be able to buy on credit again: False. Filing for bankruptcy will allow you to start rebuilding credit so that you will be able to buy on credit in the future.
- I might lose my job: False. Your employer cannot fire you for your financial situation. If you file bankruptcy and you are fired, your employer is breaking a federal law.
- I will never recover: False. You can recover from bankruptcy.
Seek the counsel of an experienced bankruptcy lawyer to help you assess your options and provide valuable information regarding bankruptcy.
Get Help Today
Contact Jimmy E. McElroy & Associates at 901-881-8730 for a free consultation.
* We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.