bankruptcy mythsHas declaring bankruptcy crossed your mind? Do you ever wonder if filing bankruptcy is the answer to your financial troubles or it will just add more headaches for you? You will discover the answers soon enough as we reveal the myths that surround bankruptcy.  As you learn about the advantages that you may gain from applying for bankruptcy, it is wise to get the best bankruptcy attorney sooner rather than later.

It is not easy to plan for bankruptcy because understanding the different laws about it is not a walk in the park. But there is hope yet.  There are experienced personal bankruptcy lawyers in West Virginia. Seeking legal advice from one of the best West Virginia bankruptcy attorneys at Thomas E. McIntire and Associates may give you a sense of direction to tackle your financial woes.  They will make sure that you are guided well and informed about the pros and cons of bankruptcy. They may even offer you advice on what type of bankruptcy is suitable for you.

Being in a financial mess entails challenging circumstances. Aside from the bills piling up, you have to deal with harassment of creditors incessant phone calls demanding immediate attention.  At this point, the pressure mounts up and you end up like a headless chicken, not knowing what to do. The stress of dealing with all your financial issues is taking over your life. As soon as you discover yourself in such unpleasant circumstances, the next best step is to seek protection of the law.

Your bankruptcy attorneys at West Virginia’s Thomas McIntire and Associates will not just guide you on the nuisances of bankruptcy laws, they may even give tips to steer you away from common misconceptions about bankruptcy.

What Are These Misconceptions?

No. 1: Bankruptcy Is The Punishment for People who are Financially Irresponsible

First things first, just because you are facing a financial disaster, it already means you are not responsible over your finances. Some may have been dealt with the bad cards in life. It may be situations that are beyond your control such as a legal case that you were caught unaware of and cost you a lot of money, a family member falling ill resulting to mounting medical bills, or simply being out of a job because the company you are working for is going under. Such desperate situations can happen to anybody and as desperate measure, bankruptcy is the only available option.

No. 2: Everyone WIll Know If You Filed For Bankruptcy

Your creditors, family members, friends or anybody whom you have shared your situation, as well as your West Virginia bankruptcy attorneys at Thomas McIntire and Associates, are the only ones who will know of your bankruptcy. Unless you are a celebrity or someone famous, your bankruptcy will not be fodder for the gossip columns. You may receive house calls or unwanted phone calls from creditors. Fortunately, as soon as you file for bankruptcy, you are legally protected from any further harassment from collectors. There is zero probability that anybody, not even your neighbor or co-worker, will discover your financial crisis. Seeking the advice of a bankruptcy attorney will save you the hassle of dealing with harassment of the collectors.

No. 3: You will be left with nothing when you file for bankruptcy.

People believe that when you file for bankruptcy, you will lose all your property like your house and car. Well, this is not true. Filing for bankruptcy as well as obtaining the protection of the law does not make you totally destitute by making you lose all your valuable properties. This is not what the law does to you. In fact, you will be better off than you were in the past. You can retain a couple of properties that you use on a daily basis, that possession is extremely vital for you to make a  living. In law,  we call these exemptions.  Any property that is left may be sold off and the proceeds of which will be used to pay off your creditors. There are various types of bankruptcy. You only need to find and file the one that can protect your assets the most, depending on your circumstances. Contrary to the myth, you do not really lose everything when you go bankrupt. Collaborate with your West Virginia bankruptcy lawyer, Thomas McIntire and Associates, to learn which type of bankruptcy will work for you.

No. 4:  You Cannot File For Bankruptcy More Than Once.

According to the new bankruptcy law, you are eligible to file for bankruptcy several times, depending on your financial circumstance. But, do bear in mind that you cannot just file for bankruptcy just because you feel like it. There are specific situations why individuals suddenly go financially unstable such as being jobless, a divorce,  a medical condition that resulted to unplanned expenses, and sometimes, even serious financial problems dueto errors in judgment. Your West Virginia bankruptcy attorney will provide you legal counsel on whether or not you may file for bankruptcy to obtain the court’s protection.

Contact Our West Virginia Bankruptcy Attorney

When considering filing for bankruptcy in West Virginia, it helps to consult a seasoned bankruptcy attorney of Thomas McIntire and Associates, and not just rely on or believe in myths and misconceptions. An experienced bankruptcy attorney will be able to answer your questions in the best way possible and to guide you on the next steps to rebuild a more secure financial future. Contact Thomas McIntire and Associates now.