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We are Texas Bankruptcy attorneys

Struggling with financial difficulties can be one of life’s most stressful challenges. If you find yourself facing foreclosure, repossession, lawsuits, tax problems, overwhelming credit card debt, or are finding it difficult to pay your monthly bills, it is time to seek professional guidance from our Texas bankruptcy lawyers.

Thinking about bankruptcy?

Bankruptcy is a complex situation and something that you really do not want to experience on your own. At The Carlson Law Firm, our Texas bankruptcy attorneys make sure that you are protected. We will help to guide you through the process from the beginning to the end.

Everybody’s debt situation is unique, so different remedies apply to different people. At The Carlson Law Firm, we take the time to talk with each client to learn about their full financial picture.

When you are contemplating bankruptcy, it is critical to understand your legal rights. Bankruptcy laws are in place to protect consumers and companies from financial ruin and the potential to be abused by creditors. By allowing individuals and businesses to have their qualifying debts eliminated or reorganized, bankruptcy offers all Americans a second chance at controlling their debt and a fresh start. Call today to speak with a bankruptcy lawyer on our team.

The Carlson Law Firm is Here to Help

When it comes to personal bankruptcy there is no substitute for professional experience. Our knowledgeable and experienced personal bankruptcy lawyers are committed to giving clients the best legal guidance and service that we can provide. A skilled bankruptcy attorney is available to review your situation and we can create a plan to ensure that your bankruptcy is effectively executed and works for all involved. Whether you are looking to file a Chapter 7 bankruptcy, or you aren’t quite sure yet what to do, our Texas bankruptcy attorneys can help.

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Reliable help from a Texas Bankruptcy attorney

There are two different types of bankruptcy; Chapter 7 and Chapter 13. Chapter 7 bankruptcy does not require a repayment plan to be established. Instead, the debtor is assigned a trustee who is in charge of gathering all non-exempt assets and selling them. The profits from this sale will then be evenly distributed to the various creditors. This process will be accomplished according to the United States Courts Bankruptcy Code. This procedure can give the debtor the freedom to retain exempt property and he or she is discharged from paying any remaining debts.

How to Qualify for Chapter 7

You can qualify to file for Chapter 7 bankruptcy by passing the means test. The means test reviews all aspects of your income to make sure that you are below the median income of the specific state. If you are under the average income, you are probably qualified to file for Chapter 7 bankruptcy. The process begins with the action of filing a petition with the bankruptcy court. Immediately after filing, creditors should cease all debt collection attempts against you. The process takes approximately four months to complete, though the exact amount of time may vary.

The Benefits of Chapter 7

There are many benefits to filing for Chapter 7 bankruptcy for those facing immense debt. It allows you to walk away from your debt and look toward a healthy financial future. This process is fast, there are no monthly payments that have to be stressed and unsecured debts are released after the process is complete. This type of bankruptcy also ends any attempts at credit collection. You can stop harassment as soon as you file as well as halt foreclosure to help you to keep your home. Feel free to contact one of our attorneys at your soonest convenience to schedule a free consultation. Our firm has offices in Killeen, Temple, Waco, Austin, Bryan, Laredo and other Texas cities as well.

Bankruptcy: the process

If you are considering bankruptcy, but are not sure whether it is right for you, it could prove invaluable to discuss your case with an attorney from our firm. You are probably unsure of how the process takes place and unsure of whether it can truly help you or even potentially harmful. In order to successfully file for bankruptcy, you should comprehensively understand the process that is to take place.

Foreclosure Defense

Foreclosure can occur when a debtor falls behind on mortgage payments. The moneylender can execute the process of repossessing the property of the individual that owes them money. With the current state of the economy, foreclosure has been occurring quite frequently. If foreclosure is occurring to you, confusion has probably overwhelmed your thinking and clouded your mind. One of the most important steps that you could take is to enlist the assistance of a bankruptcy attorney from The Carlson Law Firm. When you ask yourself, “What can I do as I face this foreclosure?” our firm can be your guide through the process.

When it comes to foreclosure, your options are limited but they do exist. The most important step that you can take is to hire a lawyer who understands the process of foreclosure and the options available to you. Involving a knowledgeable lawyer who can guide you through the process is a tool that can be used to effectively help you reach a positive solution. A lawyer can help you understand what to expect and can advise you on topics, such as whether you should apply for loan modification, deed in lieu of foreclosure, short sale or bankruptcy.

Guidance from a Texas bankruptcy attorney

The very first step you should take is to talk to a knowledgeable bankruptcy lawyer from our firm. You can then file for bankruptcy with the bankruptcy. At this stage, the creditor will have to seek a court order to finish the collection attempts.

After the bankruptcy proceeding, a meeting of creditors will have to take place. This meeting can take place on your own or accompanied by your legal representative. When this process is effectively executed, you can find financial relief and you can have a new-found sense of control over your finances. You will then want to protect your financial future and develop a plan. Our firm can help you understand the process, so contact us today!

Bankruptcy FAQs

Should I file Chapter 7 or Chapter 13 bankruptcy?

You may qualify for Chapter 7 if your monthly expenses exceed your monthly income, your income is less than the median family income in your state, or you do not have a lot of assets that you wish to keep. You may qualify for Chapter 13 bankruptcy relief if your monthly income exceeds your monthly expenses. Under Chapter 13, you make a “plan” to repay your debts over a maximum of 60 months.

Who notifies the creditors and bill collectors?

After the bankruptcy petition is filed, the court mails a notice to all the creditors you’ve listed.

Will the bankruptcy stop bill collectors from calling?

Yes. The bankruptcy will temporarily stop all actions that a creditor can take against you, your property, and assets.

Can I use bankruptcy to stop foreclosure on my home or to stop other actions by creditors?

Yes, actions against your assets or property will stop immediately (although it may be temporary).

Can my employer fire me for filing bankruptcy?

No. The Bankruptcy Code prohibits private employers from discriminating against you because you filed a bankruptcy petition.

Will I have to go to court?

You will be asked to attend a meeting of creditors with your attorney. The purpose of this meeting is to give the bankruptcy trustee and the creditors an opportunity to appear and ask you questions about the bankruptcy schedules that list the financial facts relevant to your bankruptcy petition. An experienced bankruptcy attorney from The Carlson Law Firm will be there with you and can do most of the talking.

Does the spouse of a married person also have to file bankruptcy?

No. In some cases where only one spouse has debts, it may make sense for only one spouse to file. Both spouses are responsible for the debts acquired together while they are married. If you file for a bankruptcy on these joint debts, your creditors can pursue your spouse for payment. If you are living together, it may be wise for you to jointly file for bankruptcy. If the debt belongs to you alone, the creditor cannot pursue your spouse for the debt after you file for bankruptcy. Before you make a decision on whether the debt is a joint debt or yours alone, you may want to ask an experienced bankruptcy attorneys at The Carlson Law Firm.

How long does a bankruptcy stay on my credit record?

For a period of 7 to 10 years. However you can begin rebuilding your credit immediately after receiving a bankruptcy discharge.

There's a Carlson Law Firm near you

With 12 locations throughout Texas, there’s a Carlson Law Firm near you. We have law offices located in Killeen, Temple, Waco, Round Rock, Austin, San Antonio, Laredo, Bryan, Lubbock, and Corpus Christi.

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