Personal bankruptcy is not an easy choice for anyone, but consulting with a qualified attorney can relieve financial stress and clear up questions that prevent you from making informed decisions. If you are experiencing money troubles and falling behind on bills, there is a good chance we can help.
Call for personal bankruptcy information now at 817-737-5436
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Most people considering personal bankruptcy may have no idea what their options are, or that there are even different forms of this legal protection. Depending what type of debt you have, how much debt you have and how many assets you have, there are different courses of action that you can take to resolve your financial troubles.
Debt relief lawyer Alice Bower has the experience and skill to help you determine exactly what option is right for you, and is well known for giving every client the personal attention needed to get through difficult times.
If personal bankruptcy is an option for you, remember you are not alone. Since the economic recession hit in 2007, millions of Americans have seen their debt pile up and have been forced to make extremely difficult financial decisions.
Speaking to our attorney about your specific circumstances is one of the best things you can do to help make sense of your situation and devise a plan that will help get you back ahead of your debt. Our first consultation is free.
Typically, an individual has two options: Chapter 7 and Chapter 13. Knowing the difference is one of the first steps to making the right decision, and our attorney can help you figure this out.
If you are considering personal bankruptcy and lack significant current income, Chapter 7 offers the quickest way to discharge debt and eliminate harassing phone calls. In exchange, you agree to give up certain assets.
Under Chapter 7, most of your non-exempt property is surrendered to a bankruptcy court trustee to liquidate and distribute among creditors. The property you may keep (exempt) includes a house, a car for each licensed driver in the household, all qualified retirement account, wedding rings and other items. Exemptions can be complex. In Texas, debtors can choose whether or not they want state or federal exemptions – making the right choice is critical, and our lawyer can help you examine your options with confidence.
Any debt that the trustee is unable to pay from the proceeds of non-exempt property is then discharged and you are no longer obligated to repay loans or credit card companies.
Chapter 13 personal bankruptcy allows you to retain your property and enter into a repayment plan that is set up between creditors and a bankruptcy court trustee. Depending on your circumstances, these debts can be paid, in full or in part, within three to five years. You must have the means to pay back at least some of your debts to qualify for this plan. This plan is useful to try to save a home, stop IRS wage garnishment or retain a car.
Hiring the right attorney is important because you need to determine which form you qualify for, and you need expert help in filling out the many forms required. Having a knowledgeable attorney to guard your rights and negotiate on your behalf is a wise choice.
The worst thing you can do when faced with crushing debt and harassing creditor phone calls is to do nothing. Your problems will not disappear. Call our office today for a free consultation and resolve to find the road to solvency.
Call now for debt relief at 817-737-5436
We offer free consultations
Alice Bower, Attorney at Law, provides personal bankruptcy attorney services in Ft Worth, Arlington, Irving, North Richland Hills, Grapevine, Colleyville, Mansfield, Burleson, Grand Prairie and Bedford. The information contained on this website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.