Credit Lawyer Dallas, TX

Debt can be crushing and impactful to all who are involved, and sometimes the best way to move forward is to discover your options with a credit lawyer Dallas, TX recommends. There are several reasons someone may face debts that leave them sorting out what the next steps will be. While some people may have lived beyond their means, others may have experienced unexpected events that have impacted them financially, such as medical debt or job loss. As a result, it’s possible to experience extreme stress when determining how to pay for everyday expenses. Sometimes, this can put people’s possessions at risk, and constant calls from creditors are sure to follow. It can be hard to determine the best way to experience relief, but our team at Leinart Law Firm can help explore solutions to get out from underneath the debts our prospective clients may be facing. 

Making Decisions for the Future

If finances become overwhelming, it’s time to take control of them by prioritizing them. While those in debt may be well aware that there is a problem, sometimes, it’s possible to believe they can easily solve the problem without help. Sometimes, there is no other way to experience relief without help from a professional. Several factors may indicate signs of a problem, including:

• Spending more than you make each month
• Using credit cards to cover daily living expenses
• Missing payments to cover other expenses
• Only having the ability to make minimum payments
• Having difficulty obtaining loans or additional lines of credit
• Debt consolidation plans are not expansive enough to offer relief

One of the most challenging aspects of significant debts is reaching out for help from a Dallas credit lawyer that can provide reliable options. However, many people find that once they have explored their options and developed a comprehensive plan with a professional, they experience immense relief. 

Why Bankruptcy Is a Common Solution

If you’re struggling with debt and worried about what your situation is doing to your credit, the idea of speaking with an experienced Dallas, TX credit lawyer about filing for bankruptcy may initially seem counterintuitive. After all, filing for bankruptcy will temporarily lead to a knock on your credit score. However, it’s important to understand that many individuals and businesses find that they’re in a far better position to rebuild their credit after filing for bankruptcy than they were before they took advantage of this form of debt relief with the assistance of the knowledgeable team at Leinart Law Firm.

How can filing for bankruptcy benefit your credit in the long-run? When you file for bankruptcy, you’ll signal to lenders that you’re not content to simply leave your overwhelming debts unpaid. This approach indicates that you’re willing to do whatever it takes, when necessary, to get your financial life back on track. As a result of this proactive approach, as long as you are a responsible borrower from this point onwards, your bankruptcy filing could actually help you build both solid credit and a solid reputation with lenders.

Chapter 7 Bankruptcy

There are two primary kinds of personal bankruptcy that our Dallas credit lawyer team helps individuals and families to file in times of need. The first is Chapter 7 bankruptcy. This form of debt relief is not made available to everyone. Unlike the Chapter 13 bankruptcy process, which requires filers to repay a significant portion of their debts, Chapter 7 bankruptcy relief doesn’t require repayment. Therefore, this form of bankruptcy is reserved for Americans who don’t earn much income.

If you’re eligible for Chapter 7 bankruptcy relief, you could have your eligible unsecured debt load wiped out in a matter of months. Just make sure to speak with the team at Leinart Law Firm before committing to this particular opportunity. If you own luxury property or other valuable assets, they could be sold by the trustee assigned to your case in an effort to repay your lenders. We’ll want to help you avoid that risk if possible.

Chapter 13 Bankruptcy

If you’re not eligible for Chapter 7 bankruptcy relief, you may benefit from filing for Chapter 13 bankruptcy. As a Chapter 13 bankruptcy filer, you will be required to make monthly payments on your debt for 3-5 years before your remaining eligible balance can be discharged. However, you and our team will first work together to construct a repayment plan that is truly manageable. You’ll only be required to make monthly payments that are affordable for you and your family. If your repayment period is successful, your remaining eligible debt will be wiped out.

Filing for bankruptcy is certainly not the only debt management nor debt relief option available to you. Our Dallas credit lawyer team will explore each of your options to see which one(s) best fit your unique needs and financial goals. However, it is worth mentioning that filing for bankruptcy is a common debt relief/management resource for good reason. If bankruptcy is a good fit for your situation, it could help you to achieve a fresh financial start.

Our Firm Can Help

In a 2021 study conducted by Experian, it was reported that the average American has consumer debts of more than $96,000. In addition, Americans still carry mortgages, student loan debts, home equity lines of credit, etc. For most people, it can be easy to either overspend or, worse, experience unexpected events that cause them to become entirely consumed with their debts. Fortunately, there are options available; our firm offers:

• Debt Counseling
• Debt Relief Options
• Help with Repairing Credit
• Relief from tax debts, medical debts, & credit card debt
• Support with repossession and foreclosure

With ample experience under our belts, our firm is prepared to assist those struggling with debts to find relief and a better financial outlook for the future. 

Scheduling a Consultation

We know that when searching for a lawyer, you have ample options available. However, our firm offers consultations so that prospective clients have the opportunity to discuss their specific needs and ask questions about the possibilities that may be available. A consultation lets you get a feel for the services we offer and the approach we will take to helping you manage the debts you have likely been living with for some time. Leinart Law Firm has more than 15 years of experience to apply to your financial situation; schedule a consultation to meet with our Dallas credit lawyer to discover how we can offer our assistance.