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.
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.
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.
Who Qualifies For Chapter 7 Bankruptcy
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.
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 options
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.