Chapter 7 Bankruptcy Lawyer
A skilled Chapter 7 bankruptcy lawyer in Fort Worth, TX knows that bankruptcy can be incredibly hard to understand and navigate. Many people struggle to make decisions regarding bankruptcy every day. It is quite a complex process and there are many things that you should know about it before making such a big decision. Having a lawyer to assist you with every step and give you peace of mind and allow you to choose the decision that is most suitable for you. There are several types of bankruptcy, such as Chapter 7, which is just one of the most popular forms of bankruptcy that many people file for, as a lawyer like one at Leinart Law Firm can tell you.Â
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is a form of bankruptcy many people can file for. It can eliminate several types of unsecured debt, such as credit card debt, utility bills, and medical debt. Unlike Chapter 13, you do not have to sell off assets under Chapter 7 bankruptcy. It is a much quicker process than Chapter 13 because it usually takes several months to complete, because it does not involve a debt restructuring or payment plan. Chapter 7 is a great option because it provides debtors with a new start fairly quickly.Â
Chapter 7 bankruptcy has several pros and cons, as a Fort Worth Chapter 7 bankruptcy lawyer can tell you. While it allows people to wipe out many kinds of debt, not all debt is eligible, such as student loans and unpaid taxes. It also does not offer any protection against foreclosure if you are a homeowner.Â
Who Qualifies For Chapter 7 BankruptcyÂ
You could qualify for Chapter 7 bankruptcy if you meet certain criteria. Applicants may need a means test if they make under a certain income level. Another requirement for many people who file for bankruptcy is a credit counseling course. This is a brief online course where debtors learn about basic financial concepts such as budgeting, the consequences of bankruptcy, and other important information they should know if they choose to file.Â
Why Hire a Bankruptcy Lawyer
Hiring a bankruptcy lawyer is beneficial because they can guide you in the right direction and help you make a decision about filing for bankruptcy. If you qualify for Chapter 7 bankruptcy, they can give you all the information that you need to navigate the process successfully. Here are additional reasons that bankruptcy lawyer is helpful:
- Bankruptcy law is complex
- Assistance with paperwork
- Understand your legal optionsÂ
Bankruptcy Services Are Available
Debt is one of the biggest hurdles keeping many people from achieving true financial freedom. However, a lawyer can explain all you need to know about bankruptcy, particularly Chapter 7. If you are facing bankruptcy, you can benefit from speaking with a lawyer like one at Leinart Law Firm. They will make sure that you have the support you need to make the best decision for you. Discuss your financial options with a top-rated Chapter 7 bankruptcy lawyer in Fort Worth now so that you can find the right solution for you.
Types Of Chapter 7 Bankruptcy Cases We Handle
Chapter 7 bankruptcy provides individuals and families with the chance to reduce or eliminate debt when financial struggles become overwhelming. This process can address different kinds of debt and situations depending on the needs of each client. As a Fort Worth Chapter 7 bankruptcy lawyer team, we have worked with people facing a variety of challenges. Below are the types of cases we commonly handle.
Credit Card And Medical Debt
One of the most common forms of debt we address involves high credit card balances and medical bills. These debts can grow quickly and often come with high interest rates or aggressive collection efforts. Chapter 7 allows qualifying individuals to discharge unsecured debts, giving them a chance to start over financially.
Wage Garnishment And Collection Actions
When creditors pursue lawsuits, they may win judgments that lead to wage garnishment or bank account levies. These actions make it difficult for families to pay basic living expenses. Filing Chapter 7 can stop collection efforts and provide relief from garnishments. A Fort Worth Chapter 7 bankruptcy lawyer can guide individuals through this process to protect their income.
Foreclosure And Repossession Defense
While Chapter 7 may not always prevent foreclosure, it can provide temporary relief that allows individuals time to consider other solutions. It can also help with vehicle repossessions by eliminating the underlying debt even if the property is already lost. This relief can be important for clients trying to stabilize their finances after significant setbacks.
Business Debt For Sole Proprietors
Sole proprietors often carry personal liability for their business debts. Chapter 7 can help discharge qualifying obligations, allowing individuals to move forward without the weight of business-related financial strain. This option is often used when a small business closes and the owner is left with unpaid bills or loans.
Personal Loans And Lines Of Credit
Unsecured personal loans and lines of credit are another form of debt that can be eliminated in Chapter 7. When these debts pile up, they can be just as stressful as credit card obligations. Through this process, clients are able to discharge these balances and regain financial stability.
Old Tax Debts In Limited Cases
Certain older income tax debts may be dischargeable if they meet specific conditions. While not all tax obligations qualify, many people are surprised to learn that some may be reduced or eliminated through Chapter 7. Reviewing the circumstances with a Chapter 7 bankruptcy lawyer is an important step in evaluating these options.
How We Support Clients
At Leinart Law Firm, we understand how overwhelming financial struggles can feel. Chapter 7 bankruptcy is a tool that can provide meaningful relief and open the door to a fresh start. If you are facing debt from credit cards, medical bills, or other obligations, speaking with a Fort Worth Chapter 7 bankruptcy lawyer may be the right step for your situation. We invite you to reach out to our team so we can work together on a plan that helps you move forward.
