Residents of Texas who are having trouble paying their bills and making their mortgage payments should consider how bankruptcy could protect their assets. Being swamped by debt can be overwhelming, but bankruptcy can help you keep your home and protect your retirement savings. Bankruptcy attorneys in Houston, San Antonio, Dallas, Fort Worth, El Paso and Austin are ready to help you review your financial situation and make the best decision for your financial future.
BetterBankruptcy.com offers a free consultation with a local attorney dedicated to helping you through the labyrinth of bankruptcy law.
If creditors are calling you because you are behind on car or house payments, a bankruptcy attorney can explain how to stop the calls. Are credit card companies threatening to garnish your wages? A bankruptcy lawyer can help you protect your income.
Federal bankruptcy law provides protections for your assets. A qualified bankruptcy attorney can help you apply the law to protect your home, car, retirement savings and personal income.
A Chapter 7 bankruptcy is available to people with a large amount of unsecured debt, such as credit card or medical bill debt. A trustee is assigned to help you decide which assets to liquidate, or sell off, to quickly pay off all the debt that you can. You may lose certain property, depending on your state, but generally, you won't lose equity in your home, your retirement accounts, Social Security or most of your wages. An experienced Chapter 7 bankruptcy attorney can assist you in evaluating if Chapter 7 bankruptcy is right for you.
A Chapter 13 bankruptcy is designed for to help persons with a steady income to restructure their debt so that they can keep many large assets, including their home, and pay off their debts. In this type of bankruptcy, a court approves a repayment plan that you set up with a trustee. You pay as much as the court feels you can afford to over three to five years, and the rest is eventually forgiven. Certain types of debt cannot be forgiven, such as student loans or back child support and alimony payments. Determining if Chapter 13 is right for your situation is best left to a qualified Chapter 13 bankruptcy lawyer.
Filing for bankruptcy means making financial sacrifices - you may have to pay some of your income to debtors, and possibly sell off valuable assets. Consulting an attorney can get you the information you need to reduce your liability and provide you relief from crippling debt.
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