If you are experiencing financial hardship because you’ve accumulated an unwieldy amount of consumer debt, filing for bankruptcy can put you on a path toward a brighter future.
Most people think about bankruptcy in a bad light, but that’s not always accurate – especially if you can’t live with the debts you have. When individuals and business owners find themselves severely indebted to huge credit card balances, utility bills, medical bills, unmanageable mortgage arrears, and similar types of debt, bankruptcy can help them eliminate or reorganize their financial obligations.
Alice Bower, Attorney at Law provides the legal guidance people need to deal with issues surrounding bankruptcy, as well as the process itself. We provide legal advice and services required to help people with:
- Chapter 7
- Chapter 13
- Small Business Bankruptcy
- Wage Garnishment
- Judgment Liens
- Debt Settlement
- Creditor Harassment
- Medical Debts
Debt can be a very difficult thing to deal with, but our bankruptcy services in Fort Worth at Alice Bower, Attorney at Law can make it all more manageable. If you need legal assistance and debt relief, reach out to us for help.
Contact our firm online or call (817) 241-5552. When you do, ask how you can arrange a free initial consultation with one of our attorneys.
Explore Your Legal Options in Chapter 7 or Chapter 13 Bankruptcy
Individuals with consumer debt often seek financial relief by filing for either a Chapter 7 liquidation bankruptcy or a Chapter 13 debt reorganization bankruptcy. Both forms of bankruptcy can ultimately discharge debts not secured by property – such as a mortgage or auto loan – although they do so differently.
Chapter 7 will involve a liquidation of your estate where a bankruptcy trustee will seize unexempted property and sell it off until your debts are satisfied. If you are current on your home and/or car loan payments, you may not have to worry about these properties being claimed by creditors.
Chapter 13, by contrast, doesn’t require liquidation. Instead, you will work out a plan with your creditors to pay off your debt over time. This can be a useful way of avoiding foreclosure by arranging payments on your mortgage arrears during a period of three to five years. If you successfully complete your payment plan, any remaining unsecured debts you had may be discharged.
Unsure if you should file for Chapter 7 or Chapter 13? Our attorneys offer bankruptcy legal services in Fort Worth that include a free initial consultation to assess your needs. Whether you intend to file as an individual or as a business owner, reach out to Alice Bower, Attorney at Law today for help!
Consumer debt is accumulated whenever someone purchases – on credit – something intended for their household or personal consumption. This can include credit card debt, medical bills, payday loans, student loans, auto loans, mortgages, and more.
If you have accumulated similar debts in connection with your business activities – such as a balance on a company credit card, auto loan on a vehicle you use for business, or a mortgage on a commercial property – they are likely to be considered business debts.
The difference between a consumer debt and a business debt matters because it can affect which type of bankruptcy you will file for. Should you file for Chapter 7, an important consequence of owing more business debt is that you can receive a debt discharge without passing the means test required of individuals owing more consumer debt.
At Alice Bower, Attorney at Law, our attorneys understand that clients often need help from someone who won’t judge or treat them poorly because of the debt problems. Rest assured that our bankruptcy legal services in Fort Worth come from a place of compassion and will work hard to ensure you aren’t taken advantage of during this time.
Have debt problems is hard enough. As your legal advocates, our attorneys will ensure you feel respected by us and are treated fairly by your creditors and the court.
Get the help you need by calling (817) 241-5552 or contacting us online. Schedule a free consultation with us to learn more about how Alice Bower, Attorney at Law can help.