Bankruptcy Protection Lawyer in Texas
You were already stressed when you started having trouble paying your bills. Now, you’re dealing with collection calls and worry about ending up in court. That makes the stress even worse. If you can’t keep up with the minimum payments and want a clean slate, you can file for bankruptcy protection. Learn more about filing for chapter 7 or chapter 13 bankruptcy. Then, you can move forward by consulting with a Texas bankruptcy protection lawyer.
What You Need to File for Bankruptcy in Texas
Gathering the appropriate documents is the first step in filing for bankruptcy. Get the documents you need and bring them to your bankruptcy protection lawyer in Texas. These documents include:
- Completed tax returns from the last two years
- Bank statements and proof of income from the last six months
- A list of significant transactions you made in the previous two years
- Your monthly living expenses, no matter how small
- A complete list of your secured and unsecured debt
- A thorough list of your assets and possessions
What You Need to Know About Filing for Chapter 7 Bankruptcy in Texas
If you don’t have the means to repay your debts, chapter 7 bankruptcy might be the right option. This is a liquidation bankruptcy, meaning that your non-exempt assets get liquidated by a trustee. Your creditors receive the money from the sale, and then your debts are discharged within three to five months. You have to pass a means test before you can seek chapter 7 bankruptcy protection. This test shows that you don’t have the financial means to repay the debt. Your Texas bankruptcy protection attorney will see if you pass the means test, and if you don’t, you can consider chapter 13 bankruptcy.
What You Need to Know About Filing for Chapter 13 Bankruptcy in Texas
If you want to keep your assets, consider filing for chapter 13 bankruptcy. Unlike liquidation bankruptcy, you can keep your property as long as you stick to the repayment plan. Your Texas bankruptcy lawyer will negotiate a repayment plan that you can afford. The plan will last for three to five years and might include full or partial repayment of your debt. You can also use chapter 13 to prevent foreclosure or repossession of your personal property.
Learn more about bankruptcy with these resources:
Schedule a free consultation now by calling Ciment Law Firm and let us help you navigate the complexities of declaring bankruptcy.
How Does Bankruptcy Impact Credit?
While bankruptcy can give you a fresh start regarding your unsecured debt, it does harm your credit score. A bankruptcy filing can stay on your report for up to a decade, meaning lenders can view it when deciding if you’re worthy of credit. Fortunately, you can begin to rebuild your credit, even when you have a bankruptcy on your report. Many people start improving their credit right after filing and continue to see improvements over the years.
Contact Our Bankruptcy Protection Lawyer in Texas
Filing for bankruptcy is a complex process, so don’t try to do it yourself. Instead, hire a Texas bankruptcy protection lawyer from the Ciment Law Firm. Schedule your consultation by calling 833-779-9993.
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Why Choose The Ciment Law Firm, PLLC?
- Free Consultation – Find out which debt resolution option is best for you during a free consultation.
- Positively Reviewed – Our firm has numerous positive reviews on Google, Avvo, and other websites.
- Options for All Needs – From bankruptcy protection to judgment lien releases and student loan assistance, our firm provides ample options to resolve your debts.
- Experience on Both Sides of the Field – Daniel Ciment started his career at a debt collection law firm and now protects those in debt. His experience on both sides allows him to find solutions for his clients.
- Compassionate and Transparent – Patient and knowledgeable, the team is available to answer all questions and explain the process so that clients can reach their desired outcome.
- Six Office Locations – Schedule your appointment at an office in Katy,
