Two Misconceptions About Bankruptcy

In today’s day and age, it’s not hard for a family to fall behind. Whether due to rising prices, a lost job, or unpaid medical bills, it only takes one bad situation to thrust your family into a downward spiral. Climbing back out on your own can be nearly impossible, leaving you and your family facing an uncertain future. Thankfully, our courts provide a second chance for folks just like you through bankruptcy relief, and we can help you secure it.

Bankruptcy has gotten a bad name over the years. Some believe those who file bankruptcy have lost everything and are headed for a financial catastrophe. At Rainwater, Holt & Sexton, we see bankruptcy a little differently. We don’t see it as failure. We see it as a way out of the storm.

Here are a couple misconceptions many have about bankruptcy:

  1. You’ll lose your home if you file for bankruptcy. The chances of your home being sold to recoup debts or pay off creditors are relatively low. An experienced bankruptcy attorney can help you keep your home and still secure debt relief.
  2. You will be fired for filing bankruptcy. It is against the law for your employer to fire you for insolvency. Yes, they can look at your credit report, if you allow it, but you are protected from any discrimination that comes from your bankruptcy.

Filing for bankruptcy is a big decision. At Rainwater, Holt & Sexton, our experienced Arkansas bankruptcy lawyers are ready to answer any questions you might have free of charge. Give us a call today for your free consultation.

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