Chapter 7 Bankruptcy Attorney Dallas And Fort Worth
Financial hardships can strike any person at any given moment. Whether they stem from divorce, unemployment, sudden and unexpected medical expenses or a number of other causes, these hardships can quickly drain your cash reserves and become ruinous to your financial well-being. If you find yourself encumbered with debt that you cannot repay, it’s time to seek the legal expertise of Leinart Law Firm.
We have offices in Dallas and Fort Worth that serve the needs of people who desire debt relief in the form of a Chapter 7 bankruptcy. We can provide you with the information you need, including Texas state exemptions. Before you make a decision regarding your bankruptcy declaration, get the facts from an experienced Chapter 7 bankruptcy attorney. We have more than 15 years of experience with bankruptcy law, have filed thousands of bankruptcies and have helped numerous people and families gain a fresh start. We can help you, too.
Our Other Bankruptcy Services
Our extensive experience allows us to provide expertise in the following areas:
- Bankruptcy Laws
- Chapter 13 Bankruptcy
- Business Bankruptcy
- Divorce and Bankruptcy
- Lawsuits and Judgments
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is also known as liquidation bankruptcy. It does not require you to repay any unsecured debt, but rather it serves as a legal elimination of it. Unsecured debts that can be wiped away with Chapter 7 bankruptcy include:
- Credit cards
- Medical bills
- Most judgments and garnishments
- Repossession debt
- Eviction or broken lease debt
- back taxes
- Delinquent utilities
These unsecured debts are completely eliminated through legal discharge. At Leinart Law Firm, we focus on bankruptcy and debt solutions, so we know exactly what legal protection you may be granted under Chapter 7 bankruptcy laws.
I keep hearing that a Chapter 7 trustee will take my “non-exempt” property. What is my “non-exempt” property?
Bankruptcy’s main goal is to help debtors find their way out of debt, and therefore, while debtors have certain “exempt” properties that they don’t have to give up, including tools for their trades or occupations, transportation, and necessary household items, “non-exempt” properties are seen as luxury items.
Luxury items may include things such as a second car or house, cash, valuable collector’s items or family heirlooms, and even musical instruments, unless the debtor is a professional musician.
These items are seen as luxury items because they aren’t necessary for daily life, and won’t contribute to the debtor getting out of debt.
An attorney can help you identify what you may have to give up and what may been seen as exempt property.
Do I have to complete a “personal financial management course” as a condition of getting a Chapter 7 discharge?
Before you can be awarded a Chapter 7 discharge, you do have to complete a personal financial management course from an approved agency. These courses usually have to last a minimum of two hours, and while not all of the agencies are non-profit organizations, they are required to offer sliding scale fees in order to make them affordable.
After you finish the course, you have to file a document called Form 23, which proves that you completed the course within 45 days of filing for bankruptcy. Without this form, you won’t be able to complete the Chapter 7 discharge.
The only exceptions to this rule are if there are no courses available in your district, if you have a disability that prevents you from attending, or if you’re on active duty in a branch of the military.
Will a Chapter 7 discharge all of my debts?
While a Chapter 7 bankruptcy will discharge almost all of your debt, there are certain debts that can’t be discharged. Debts that can’t be discharged or can only be discharged in limited circumstances include alimony and child support debts, student loans, and fines for criminal violations such as personal injury caused by drunk driving or other traffic violations. Any debts incurred through fraud can’t be discharged, as well as debts that were not discharged in a previous bankruptcy.
In addition to these fines, which you’d still be responsible for, you are also responsible for any fines you incur after filing your petition for bankruptcy. If you’re unsure whether certain debts would qualify for discharge, you can ask your attorney specific questions about your situation.
Qualifications for Chapter 7 Bankruptcy
A Chapter 7 discharge is not a right that everyone is qualified for, but most people who are experiencing financial challenges will meet the requirements to file. Bankruptcy laws changed in 2005; they require that people seeking Chapter 7 protection submit proof of income. If your income is at or below the state median income level, you may qualify for Chapter 7. If, however, your income exceeds the state median level, you may be required to undergo means testing.
Means testing measures your ability to repay some of your unsecured debt with disposable income, or income that may be left over at the end of the month after all necessities are paid. Leinart Law Firm offers a complimentary consultation and evaluation, and during our time together we can determine whether or not you meet the Chapter 7 bankruptcy filing requirements. If you are looking for a chapter 7 bankruptcy attorney Dallas law firm, we got you covered.
Contact Us Today in Dallas, Fort Worth, or Plano
Facing financial hardships is challenging, particularly when you do it alone. Let Leinart Law Firm be your guide as you navigate through these difficult times. We can offer skilled guidance and help you get a fresh start.
Contact us at 800-518-3328 to schedule your free consultation or complete our online debt evaluation to get started.