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
* We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.