Is Bankruptcy Right for You?
First, a person in debt must decide if they want to file bankrutpcy. There are many alternatives for debt relief; from negotiation with creditors lowering debts, to the different chapters of bankruptcy that allow relief. Bankruptcy is a series of laws that have been enacted to allow a debtor to obtain a clean slate. Although the laws changed in 2005 making it harder to file a Chapter 7 bankruptcy, and obtain a fresh start, it did not make it impossible to file a chapter 7 bankruptcy. Even with filing bankruptcy, there are still types of debt that are not dischargeable, such as: alimony, child support, debts that arise after bankruptcy is filed, some debts incurred in the six months prior to filing bankruptcy, loans obtained fraudulently, debts from personal injury while driving intoxicated, debts from willful and malicious injuries to person or property, some student loans, some taxes, secured loans as lenders can foreclose on their capital.
Being overwhelmed by debt, trying multiple attempts at reducing or eliminating expenses, rebuilding credit, or increasing your income to cover the difference. Unfortunately, for most Americans suffering from debt, their credit card expenses are too high and their wages cannot sufficiently cover the balance to make ends meet. When you are unable to recover from debt, you do have rights and options. We offer experienced advocacy to help our clients achieve debt relief through bankruptcy. Many people need help getting out of debt. The law allows you to overcome this temporary setback by filing for bankruptcy.
Debt Relief Solutions for Families and Businesses
Are you experiencing financial stress like most Americans affected by the recent economic downturn? Since the recent rise in job loss, slowing of industry, and mortgage market collapse, millions of Americans have had to file bankruptcy. Our goal is to help you keep your home, your personal belongings, and your retirement benefits while still eliminating debts.
Do I Qualify for Chapter 7 Liquidation Bankruptcy?
Chapter 7 bankruptcy is available to individuals, families and businesses that need additional debt relief assistance. Qualifying for Chapter 7 involves a means test that will take into account your income, assets, and debts. Chapter 7 bankruptcy is a viable solution for many people who have a significant amount of unsecured debt including credit card debt or medical expenses.
What Debts Can Be Eliminated?
Under Chapter 7 bankruptcy, you can generally eliminate unsecured debt including credit card debts, medical expenses, and personal debts while protecting up to $100,000 in personal property and a homestead of unlimited value. You can also protect your retirement benefits. Many people hesitate to file bankruptcy because they believe that their credit will be destroyed indefinitely. In reality, it is better to file bankruptcy and secure your finances so that you can begin rebuilding your credit today.
Don't let fear hold you back from obtaining the fresh start you deserve. We offer a FREE bankruptcy consultation. For more information or to schedule a consultation with an experienced lawyer serving individuals, families, and businesses throughout Lewisville, Denton County and surrounding areas of Texas, please call 972-538-0358 or contact us by e-mail.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.