A Clean, Fresh Financial Start
Chapter 7 bankruptcy is a section of the bankruptcy code which allows people in Dallas, TX and the entire DFW metropolis to discharge debts which are unsecured. This includes credit card balances, medical debt, and other types of debts. Any assets which are non-exempt include only very specific types of luxury items, vacation homes, as examples.
One of the main reasons people consider filing without an attorney is that they’re afraid of the cost. But that can ironically be precisely the reason to file bankruptcy with a lawyer in Dallas, because if you file incorrectly, it can end up costing you dearly through having to re-file, making mistakes in the exempt asset category, and more.
As long as they are not assets like those, they need not be liquidated for paying debts. Eligible debt balances which are not paid by asset liquidation will be discharged through bankruptcy or forgiven.
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For a free legal consultation about your options in order to determine what is the right choice for you in your situation. Richard Weaver has had over 25 years of experience and helped literally THOUSANDS of clients to file for protection using the laws which were established by the United States constitution.
Benefits of a Chapter 7 Bankruptcy:
Texas statutes as they relate to the federal bankruptcy code are very favorable for debtors who have difficulty paying bills. For Texas residents who decide that they would like to move forward and file for protection, you can read below for a list of some major benefits which Texas provides to its residents:
- Debt relief from unsecured balances
- Clean slate financially
- No more creditor harassment
- And much more
Disadvantages For Filing a Chapter 7 Bankruptcy Can Include:
- Non-dis-chargeable balances for alimony, student loans, and child support are not discharged
- If you have major luxury assets such as a second home, this could be liquidated
- (One note is that many of these disadvantages are overcome in a chapter 13 bankruptcy.)