Bankruptcy Myths

Attorneys Who Understand Your Bankruptcy Questions

There are many myths surrounding filing for bankruptcy. However, most stigmas of the past are no longer relevant. At 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.

If you are ready to make a fresh start and put the past behind you, contact McElroy & Associates in Memphis. We help clients in Tennessee and Mississippi.

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.

Contact 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.

East Memphis Office
Jimmy E. McElroy & Associates
3780 South Mendenhall Road
Memphis, TN 38115

Toll Free: 888-871-3678
Fax: 901-794-4335
Memphis Law Office

Downtown Office
Jimmy E. McElroy & Associates
200 Jefferson Avenue
Memphis, TN 38103

Toll Free: 901-881-8730
Fax: 901-794-4335
Memphis Law Office