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Common Myths About Bankruptcy in Greenville

Common Myths About Bankruptcy
There are many myths floating around when it comes to bankruptcy, its processes and its effects. It’s strange that so many of them persist, considering how common filing is in Greenville. If you are considering Chapter 11, Chapter 7 or Chapter 13, you should first have all of the facts so you fully understand what lies ahead. The McMaster Law Firm, LLC can help you understand your options and dispel some of the bankruptcy myths you may have fallen victim to. Some of the most common misconceptions include the following:

  • Filing for bankruptcy is an indication of financial irresponsibility. Sometimes even careful financial planning can end in bankruptcy. It does not necessarily mean you are bad with money.
  • Filing can resolve all financial struggles. You may still have to pay some debts even after filing.
  • Your credit will be irrevocably ruined if you file. Bankruptcy stays on your file for about seven years, but you can start repairing your credit and get back to a good score again eventually.
  • All of your assets will be lost if you file. You may still be able to keep some assets, including your house and your car, depending on your situation.
These myths are harmful and inaccurate. If you want to know the truth about bankruptcy and whether or not it is the right decision for you, let us discuss the options that are best suited to your situation.

Fighting for Your Rights in Abbeville & the Pettigru Street Area

The McMaster Law Firm, LLC can help you separate fact from fiction and find the solution that works for your personal or business financial situation. We serve clients throughout the greater Greenville area, including Abbeville, the Pettigru Street area, McCormick, Spartanburg, Pickens and Oconee. When you are ready to take control of your financial future, credit repair and legal rights, you can reach out to us at 864-232-1550.

Disclaimer: The McMaster Law Firm, LLC provides this website for informational purposes only and does not intend it to be legal advice, nor does the law firm attest to the accuracy of information provided by links to other websites and forms.