How can an attorney help you before, during, and after bankruptcy? Clearly there are advantages in filing for Chapter 13 bankruptcy, especially in Texas, so let’s find out those first.
Advantages of Texas Chapter 13
Since unemployment rates and foreclosures are a still a problem nationwide, including Texas, you might wonder what Chapter 13 bankruptcy can help with.
Plenty, because by filing you can save your home from foreclosure, buy time to catch up with bills, and be free of creditors during the entire plan.
There are some disadvantages for Chapter 13 when compared to Chapter 7, namely the fact you cannot eliminate debt in Chapter 13. However, if you make too much money, if you fear you’ll lose your home to foreclosure, an experienced attorney will tell you Chapter 13 is the best. You can’t save your home with Chapter 7.
How do you hire a Texas attorney?
Hiring an attorney is that big first step before bankruptcy. To hire one, look over 3 crucial parts: experience, availability, and price. When used together, these can really help you choose between the lawyer who has an office in town and the lawyer who specializes in helping home owners avoid foreclosure in Texas.
How much experience does a Texas bankruptcy attorney need? First, they should specialize in personal bankruptcy. They should have close to a lifetime in training and work. When it comes to price, it depends on your financial institution, but you can get an experienced Texas bankruptcy attorney for $1,000-$2,500 in most cases.
How does the attorney help?
Before you even file with the Texas court in your area, be sure to hire an experienced bankruptcy attorney. Before the bankruptcy, a good attorney will see what you’re eligible for, if you’ll lose any assets, if Chapter 7 or Chapter 13 is best, and how to plan for your future. During the proceeding, you’ll be asked to appear briefly in Texas court for Chapter 13. For the most part, your attorney will handle the entire process, saving you valuable time and avoiding mistakes.
Also during the bankruptcy, your attorney can stop all creditor harassment. If the phone is ringing off the hook from creditors calling about past due bills, an attorney can either stop these calls completely or handle them in his/her office. This may seem minor, but if you’ve ever been the subject of creditor harassment, you know how invaluable this is.
Finally, before the bankruptcy is over your attorney helps you prepare for a fresh start. For Chapter 13, it will be a 3-5 year process, where you will be able to save your home, car, and other assets, and maintain your job without threat of wage garnishment. The process start when you hire the right Texas bankruptcy attorney.