Common Misconceptions of Bankruptcy

Debunking Bankruptcy Myths

Bankruptcy has long had a negative connotation throughout the United States. Although there are negative aspects to bankruptcy, there are also many myths surrounding this legal process that must be debunked and clarified. I, Bryan W. Clickner, strive to help my clients understand their circumstances and confidently select the most appropriate debt relief option. As your New Hampshire bankruptcy attorney, I can help you pursue bankruptcy and obtain a positive financial resolution to financial concerns.

Examples of Common Bankruptcy Myths

My credit will be ruined after I file for bankruptcy.
Credit is typically already damaged when a debtor is at the point of filing for bankruptcy because of his or her financial situation. Although bankruptcy stays on a creditor's record for 10 years, credit can be restored through positive financial practices. Many individuals are able to see vast improvement to their credit after just two to three years after filing for bankruptcy.

Bankruptcy indicates that I am a financial failure.
Bankruptcy is used by many respectable individuals who need to obtain a fresh financial start. In most cases, the primary cause of overwhelming debt is the economy, medical bills, and other uncontrollable factors. Bankruptcy is not a sign of financial defeat but is rather a solution to help individuals permanently get out of debt.

I will lose my house and vehicle if I file.
Bankruptcy is not a punishment that is meant to strip you of your personal belongings. When you file for Chapter 7 bankruptcy, most assets are exempted. That means that you are able to keep a large portion of your property. In a Chapter 13 bankruptcy, you do not lose any of your assets. In most cases, you are able to keep your home and vehicle by filing under Chapter 13.

My name will be published in the newspaper.
Bankruptcy is a public record, but you will not have your name published in a newspaper unless you are famous public figure. In most circumstances, no one will know that you have filed for bankruptcy unless you personally tell them.

Bankruptcy will impact all consumers in the same way.
This is not true. Every individual's case is unique and will have its own outcome depending on the amount of debt discharged and the number of debts that are included when filing for bankruptcy. My firm can help you evaluate which type of bankruptcy is best for you and how each type could affect your financial future.

Legal Bankruptcy Help in New Hampshire

I am devoted to helping my clients understand their legal issues and the process they are navigating. I have observed the benefits of bankruptcy and know that it can make a positive difference in your life. I am available to provide you with the legal help you need with your bankruptcy case. Contact Attorney Bryan W. Clicker at your earliest convenience.