This guide shows how best to save money, to hire a Texas lawyer, to discharge debt, to stop creditor harassment, and to get a fresh start. It’s important to understand the value of a successful Chapter 7 bankruptcy, and what it means for your future. A Chapter 7 bankruptcy liquidates assets and protects you financially by discharging debts you simply cannot afford. While you stand to lose some assets, you have exemptions when filing bankruptcy, especially effective in Texas, for protecting property like your home and car.
So how can you succeed?
Set Clear Goals
Texas bankruptcy need not be a time consuming, costly affair. Bankruptcy is difficult without proper legal representation. Your first goal might be to hire a lawyer both affordable and experienced. You have many options there. With a Chapter 7 bankruptcy, you may set goals of having your credit rebuilt after a few years time. You might also write down how you intend to save your home as well as other property and assets.
Hire a Texas Lawyer
Who do you hire? A Texas bankruptcy lawyer can help you set goals, rebuild credit, discharge debt, protect assets, and save money. A good Texas bankruptcy lawyer can explain the advantages of bankruptcy, specifically Chapter 7 – how it helps you, what protections you have, what you can keep, etc. He or she can also explain how your credit will be affected and what you might do to rebuild it.
If You Want it Discharged, Write It
Another crucial success tip: if you want to eliminate a debt, include it in your bankruptcy filing. Your lawyer can help, but be clear on this point. If you want the debt gone – to discharge it – list it. The same goes if you want to protect property and assets: if you want to keep them, your best opportunity is to list them and set up a plan to do so. If you ignore certain debts or assets, your bankruptcy may not go through.
Stop Harassment – Get Even
Well, “get even” may be pushing it, but you may have some harsh words for those calling you from morning to night. While filing Chapter 7 bankruptcy is effective in stopping harassment, be clear there are other ways to stop it. You can, for one, write a letter to the creditor asking them to stop contacting you; by law they have to. However, the root problem is the debt, and a Chapter 7 bankruptcy can discharge it (if you list it).
Second Chances and Fresh Starts
Bankruptcy gives you a fresh start financially. That’s the big benefit for many of us; we want some kind of new beginning, a better life financially. You may worry you’ll never be able to buy a home, car, or expensive dinner again – that bankruptcy will be a negative. However, while your credit may be hurt, it’s not ruined, and you always will have opportunities for new lines of credit and new loans. It may take some time, you will get some “no’s”, but it’s more than possible.
Take advantage of Texas Chapter 7 bankruptcy. If you are unsure on how to begin, get in touch with an experienced lawyer.