1-Get Started with Bankruptcy
Should you file Chapter 7 bankruptcy of Chapter 13 bankruptcy? What if you want to avoid foreclosure? These are the types of questions you may have in just getting started with bankruptcy. You can save yourself a lot of time and worry by working with an experienced Texas bankruptcy lawyer to help you see things such as the advantage of Chapter 7 and also how Chapter 13 can help avoid foreclosure.
2-Save Money by Discharging Debts
You owe credit card debt. Or you owe a huge medical bill. Or you owe more on your mortgage than you can pay. Perhaps you recently lost your job and cannot keep up with bills. Or maybe you want to avoid losing your home because of a decrease in income. A lawyer can help in all these situations. For example, if credit or medical debt is your main problem, you may consider Chapter 7 bankruptcy to discharge the debt. You discharge debt with Chapter 13 too, but technically you are paying it back over the course of 3-5 years.
3-Handle Creditors
If you’re phone is ringing off the hook, you may simply want to throw it across the room. Creditors are a problem for many of us. The good news is, once you file for bankruptcy, your Texas lawyer can handle your creditors. If they continue calling, refer them to your lawyer.
4-Stop Wage Garnishment
One problem many Texas debtors have is making money at a job but it being taken away by wage garnishment. You may owe more than you can pay. Technically creditors can take some of your wages to pay back the debt, just like in some states they can take other property to pay back the debt. With a Texas bankruptcy lawyer’s help, you can avoid wage garnishment by discharging the debt.
5-Avoid Foreclosure
Did you know with the Texas Homestead Exemption you can protect your home from almost all creditors? They simply cannot take it away if you owe them money. The only creditor who has the right to foreclose on your home is the lender, who, if you default, can take legal action against you. Even then, you may consider Chapter 13 bankruptcy to avoid the foreclosure. A lawyer can help with this.
6-Avoid Car Repossession
If your car is in danger of being repossessed because you owe money on it, a bankruptcy can help, and so can a lawyer. You may want to file Chapter 7 bankruptcy to discharge some other debts, then affirm the debt on the car so you can keep it. You may make it part of your Chapter 13 debt repayment plan. A lawyer can help with these options.
7-Fresh Start
Finally, Texas bankruptcy is a life changing event. You stand to save a lot of money by filing, but you need help to get there. You likely have many questions. You may have some concerns. In any case, it’s time to consider filing for help. But before you file, hire an experienced Texas bankruptcy lawyer.
