Bankruptcy Lawyer in Dallas, TX
Filing for bankruptcy is not a fun experience and can actually feel incredibly scary. It is a difficult decision to make as it comes with long-term consequences. However, there are many reasons to file for bankruptcy, and they are often out of a person’s control. Deciding whether to file for bankruptcy is not easy. This is why you absolutely need a bankruptcy lawyer in Dallas, TX, like a lawyer from Leinart Law Firm, when you decide that it might be time to file. Bankruptcy is a complex process to go through and there are many things that you need to consider before making your choice. With the help of a lawyer, you can have peace of mind after receiving the right legal guidance. Your lawyer will be able to evaluate everything that has to do with your finances to determine whether filing for bankruptcy is your very best option or if you can possibly avoid filing. Sometimes, you just need to restructure your debts or find a repayment plan that works best for you. Other times, filing for bankruptcy is your best option because you do not have a high amount of assets and it will not harm your life too much to file. No matter what, having an experienced bankruptcy lawyer on your side is a crucial part of the filing process.
Choosing What Kind of Bankruptcy to File For
Your lawyer will be helpful in determining whether it will be in your best interest to file for Chapter 7 bankruptcy or Chapter 13 bankruptcy. In Chapter 7 bankruptcy, you file and all of your debts are wiped out. Keep in mind that it is incredibly difficult to get student loans wiped out, however, so those debts may need to be looked at and restructured in a way that you can pay them off. Chapter 13 bankruptcy is often used by people who want to keep many of their assets. It is more of a restructuring process and will allow you to keep much of what you have, rather than selling it to pay off your debts. Chapter 13 is also good for someone who can figure out how to pay off his or her debts, rather than filing and needing everything completely wiped off to create a clean financial slate. You will still get a lot of help for filing, but it allows a bit more flexibility and less repercussions for filing. Your bankruptcy lawyer in Dallas will be able to assist you to figure out what the best option for you will be.
The type of bankruptcy that you file for depends on your eligibility and circumstances. Everyone has a unique situation, so the type of bankruptcy you file for also depends on the goals you are trying to achieve. For example, if you want to get through the bankruptcy process faster, then you may want to see if you are eligible to file for Chapter 7 bankruptcy. It also depends on the state of your finances, and the types of assets or debts you have. A homeowner may want to file for Chapter 13, because it temporarily stops the foreclosure process. If you don’t know how to figure out the type of bankruptcy to file for, schedule a consultation with a trusted and experienced lawyer.
Contact a Bankruptcy Lawyer Today
Many people are concerned that filing for bankruptcy ruins them financially for life. It comes with consequences such as lowering your credit score, making it difficult to file loans, and other penalties. However, the reality is a little more complex. Bankruptcy can actually be the best financial option for people in certain situations. It gets rid of their debt, or makes it more manageable. This allows them to have a clear slate so that they can start fresh. Filing for bankruptcy does come with setbacks, but it can make you much better off in the long run.
Do not hesitate if you are considering filing for bankruptcy or having deep financial difficulties. A skilled bankruptcy lawyer in Dallas, Texas from Leinart Law Firm has plenty of experience doing this with others and can help you decide how you want to move forward and what the best chance at recovering quickly from filing will be. Reach out today to set up a consultation to learn more.
Reasons That People File For Bankruptcy
Filing for bankruptcy is not a personal failure. Though it can be due to improper spending that some people file for bankruptcy, like misuse of credit, that is not always the case. In fact, for many people who file for bankruptcy, it is a choice that they are forced to make. Some people who are financially responsible end up declaring bankruptcy. Some of the top reasons that people file for bankruptcy are high medical bills, a personal injury accident, losing a job, and other unforeseen circumstances.
Things to Consider Before Declaring Bankruptcy
Bankruptcy is not a decision that you decide on overnight. You need to carefully think it over and assess your financial situation. Consider the type of assets you have, whether you have dischargeable debt, or whether there are other less drastic alternatives like revising your budget or credit counseling. You should only declare bankruptcy if you have no other alternatives to help your debt situation and improve your finances. Before you commit to a decision, talk to a trusted and qualified bankruptcy lawyer. They will analyze your situation and give you an honest professional opinion.
Once you decide to file for bankruptcy, there is no backing out. To learn more about whether bankruptcy is right for you, meet with an experienced bankruptcy lawyer now.
What is a Bankruptcy Lawyer?
A bankruptcy lawyer in Dallas, TX is a legal professional who helps individuals and corporations file for bankruptcy. In most cases, the attorney will act as a mediator between the debtor and creditors. The lawyer may also determine whether filing for bankruptcy is the best option in a given situation.
The types of services offered by bankruptcy lawyers in Dallas, TX can vary widely. For example, some lawyers will help clients prepare for meetings with creditors, while others will represent clients at these meetings. Other lawyers will help clients draft necessary documents, such as petitions and schedules. In addition, some attorneys might provide advice about the merits of filing for bankruptcy.
Bankruptcy lawyers in Dallas, TX will typically help people file for bankruptcy relief under the Bankruptcy Code. They help businesses reorganize and restructure their debts, as well as represent individuals who are unable to pay their bills.
What is a Chapter 7 Bankruptcy?
Any time someone owes money and cannot pay it back, they can file for bankruptcy. There are several different kinds, but most people will only qualify for one. The main types are Chapter 7, Chapter 11 and Chapter 13 Bankruptcy.
Chapter 7 Bankruptcy is commonly called “liquidation bankruptcy” because the court sells down a person’s assets to pay off their debtors. A trustee will oversee the liquidation of assets, which can include real estate, cars and other items of value.
The biggest problem with filing for Chapter 7 Bankruptcy is that there are exceptions to what can be sold off. These exemptions vary from state to state, but may include essential household items like furniture and appliances as well as clothing and tools used for work.
Why Hire the Leinart Law Firm as Your Bankruptcy Lawyer
The Leinart Law Firm understands that debt is a part of life. We also understand that sometimes our clients’ debt becomes more than they can handle, and they need professional advice to make things right. When you are overwhelmed with debt, it is more than just a financial problem — it is an emotional stressor. That’s why we work hard to ensure that your case goes smoothly and quickly.
Leinart Law Firm was built with a simple mission: give the people of Greater Houston the best legal representation at the lowest price possible. We are proud to serve our community, and we want to make sure that everyone has access to top-notch attorneys, regardless of their budget.
Trust Leinart Law Firm to handle all of your bankruptcy, divorce and family law needs with professionalism and integrity. Our bankruptcy lawyers in Dallas, TX, our firm has assisted individuals and families throughout the state who are seeking to resolve their financial or family matters.
We will listen to your concerns and provide you with honest advice so that you can make informed decisions about how to move forward. We are dedicated to helping you achieve the best possible outcome for your unique situation. Call today for a consultation with an experienced bankruptcy lawyer in Dallas, TX.