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Bankruptcy Attorneys in Texas, Tx

Need information on bankruptcy, workers’ compensation, divorce, or any area of law? You’re in the right place! We offer you easy-to-read articles on complicated legal topics so you can understand a little more about different legal cases.

Our content is simplified so that in a short time you will be able to understand and make a decision about the direction you will take in your case.

In addition, we provide you with legal professionals who will be happy to help and advise you in your specific case. We only work with the best lawyers in Texas, who will do their best to guide you properly in legal matters and always according to your needs.

Below, we will have detailed information you need about Bankruptcy in Texas, keep reading!

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What is the Fresh Start Program?

The economy in the world has taken a huge turn since 2020 and consequently, our lives have also changed a lot. Not only many lost their jobs, but also many businesses failed and establishments closed as a result.

But it is not the end, we have to keep fighting for our dreams and stand firm in our convictions, we believe so. And if you think that debt will end it all, we want you to know that U.S. law has alternatives that can give you the financial fresh start you deserve: Bankruptcy.

Believe it or not, this may be the solution to your debt problems! Although you may think it is unthinkable, don’t believe the rumors that place it as the end of your financial life. On the contrary, it could be the fresh start you’ve been looking for.

Experience

If you decide to file for bankruptcy, but you are unfamiliar with the laws surrounding this process, it may be a bad idea to do so on your own. An excellent bankruptcy attorney will have all the experience necessary to make your bankruptcy filing successful. In addition, a bankruptcy attorney knows the state laws and regulations inside and out, and will guide you through all the procedures.

Assess all your options

The extensive financial knowledge of an experienced bankruptcy attorney will allow him/her to diagnose your financial situation, and then determine what type of bankruptcy is best suited for your situation. You may want to get rid of your debts quickly, in which case the attorney will recommend chapter 7 bankruptcy. Or you may have a steady income and qualify for chapter 13 bankruptcy.

Protection from creditors

You may be receiving constant calls, and even visits, from creditors demanding payment of your debt. However, if your creditors know that you have an excellent bankruptcy attorney on your side, they will leave you alone immediately. Your bankruptcy attorney will make sure they stay away from you. He or she will tell you about the types of behavior that are considered abusive, and about the rights you have in your position. Once you file for bankruptcy, creditors are legally required to stop collecting on the debt.

Save your home or vehicle

If you are facing foreclosure proceedings, or if you are receiving threats to repossess your vehicle, hiring a bankruptcy attorney may be your best option to save those precious assets. The attorney will explain to you the options you have to have the best chance of keeping them. In addition, he/she will assist you in making lists of exempt assets, so that you do not make any mistakes during the procedure and end up losing something important to you.

Peace of mind

Retaining the services of an experienced bankruptcy attorney will make the entire process much easier. If you are going through a difficult financial time, you do not need to stress about legal procedures, when you can entrust it to someone who is much more experienced than you are in this field. Once you retain the services of an attorney, you can relax a bit, and then focus on rebuilding your finances with some peace of mind.

What Are The Benefits of Bankruptcy in Texas?

If your creditors are pestering and harassing you to pay your pending debts, you need to know that bankruptcy will put an end to the constant calls and messages once and for all, as it legally forces them to leave you alone.

Aside from getting rid of debts, filing for bankruptcy in Texas has its specific benefits, as it has specific regulations that you can opt for and can benefit you when it comes to keeping your precious assets. In addition, Texas is home to many of the best bankruptcy attorneys.

What Are The Different Types of Bankruptcy in Texas?

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the most popular of the bankruptcies, as it is the one that can get you out of debt the fastest and is the cheapest, because you will not have to pay through money, but through the sale of your assets. 

However, there is the possibility of exempting some of your essential assets from those allowed by law and, in addition, in Texas, there is a list of different exemptions available to you. In court, you will be allowed to choose which one you want to use.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the most popular of the bankruptcies, as it is the one that can get you out of debt the fastest and is the cheapest, because you will not have to pay through money, but through the sale of your assets. 

However, there is the possibility of exempting some of your essential assets from those allowed by law and, in addition, in Texas, there is a list of different exemptions available to you. In court, you will be allowed to choose which one you want to use.

What Can A Chapter 7 Bankruptcy Attorney in Texas Offer You?

However, you should keep in mind that to be eligible for the benefits that this type of bankruptcy offers, you must first qualify. And a Texas bankruptcy lawyer will know how to guide you so that you have a better chance of filing for Chapter 7 bankruptcy.

In addition, a legal professional who specializes in these types of cases will make the entire bankruptcy process as simple and stress-free as possible. He or she will collect all the necessary paperwork and submit it to the bankruptcy court so you don’t have to worry as much.

Also, in Texas, it is more common that you do not lose your most important assets, and your attorney will do his or her best to make your case a “no-asset” case so that you do not lose any of your valuable possessions and can still get out of debt.

Chapter 13 Bankruptcy

If you do not like the idea of selling your assets, no matter how minimal the risk, you can opt for Chapter 13 bankruptcy. In this type of bankruptcy, you will have to restructure your finances to be able to follow a payment plan that can allow you to pay your creditors.

Although, you must keep in mind that the most difficult thing about this type of bankruptcy is to qualify since it is a bankruptcy accessible only if you have a fixed salary or you are a small business owner. For this reason, it is often referred to as the “wage earner’s bankruptcy”.

Once you qualify, you just have to be disciplined and follow the payment plan diligently so that you can get out of debt and keep all your assets so that you can live in peace and debt-free once you are done with the plan.

Chapter 13 Bankruptcy

If you do not like the idea of selling your assets, no matter how minimal the risk, you can opt for Chapter 13 bankruptcy. In this type of bankruptcy, you will have to restructure your finances to be able to follow a payment plan that can allow you to pay your creditors.

Although, you must keep in mind that the most difficult thing about this type of bankruptcy is to qualify since it is a bankruptcy accessible only if you have a fixed salary or you are a small business owner. For this reason, it is often referred to as the “wage earner’s bankruptcy”.

Once you qualify, you just have to be disciplined and follow the payment plan diligently so that you can get out of debt and keep all your assets so that you can live in peace and debt-free once you are done with the plan.

What Can A Chapter 13 Bankruptcy Attorney in Texas Offer You?

Before making a decision, the best thing to do is to consult with a specialized attorney who can determine if bankruptcy is the right type of bankruptcy for your current situation. Fortunately, there are legal professionals in Texas with a lot of experience in this type of case who will be willing to help you with your case.

If after consulting with a bankruptcy attorney, you determine that Chapter 13 bankruptcy is right for you, then the attorney will help you gather all the necessary paperwork to file and with their help, this process will be less stressful for you.

Chapter 11 Bankruptcy

Chapter 11 bankruptcy is another popular bankruptcy, but it specializes in the bankruptcy of large businesses. Through this bankruptcy, a company will put in place a way to get rid of debts similar to Chapter 13 bankruptcy.

They are very similar, since in Chapter 11 bankruptcy, a financial reorganization plan is made, on a larger scale. It is important to note that during this process you will also be able to manage your business to maintain the business while paying off outstanding debts.

Chapter 11 Bankruptcy

Chapter 11 bankruptcy is another popular bankruptcy, but it specializes in the bankruptcy of large businesses. Through this bankruptcy, a company will put in place a way to get rid of debts similar to Chapter 13 bankruptcy.

They are very similar, since in Chapter 11 bankruptcy, a financial reorganization plan is made, on a larger scale. It is important to note that during this process you will also be able to manage your business to maintain the business while paying off outstanding debts.

What Can A Chapter 11 Bankruptcy Attorney in Texas Offer You?

If you think your business is at risk, don’t worry, an experienced bankruptcy attorney knows that organizing your finances is the key to success in these types of cases. Therefore, relying on the advice of a legal professional is the best decision you can make for your business.

Many successful companies have had to file for bankruptcy and have been able to get out of it. One of them, General Motors, despite having to declare bankruptcy, was able to rebuild and be successful.

Is there a Bankruptcy Lawyer near me?

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