Bankruptcy Attorneys can help navigate the Bankruptcy laws that provide for a means to help the consumers who are unable to pay their creditors a way to obtain debt relief through the division of the consumers assets. Bankruptcy is a means for a debtor to make a fresh start and not be punished for their inability to pay their debts. Bankruptcy laws allow certain debts to be discharged after the available assets have been distributed – even if the debts have not been paid in full.

Chapter 7 Bankruptcy

A Chapter 7 Bankruptcy permits you to forgive or “discharge” most of your debts while allowing you to keep most of your assets. A “discharge” is a court order that releases your from all of your dischargeable debts and orders your creditors not to attempt to collect them from you. In a Chapter 7 Bankruptcy case unsecured debts such as credit card debts, signature loans, and medical bills, could be discharged. Certain debts cannot be discharged in Chapter 7 including, but are not limited to, student loans, child support, alimony, property awards in divorce cases, certain taxes, debts obtained by fraud and certain debts incurred shortly before filing bankruptcy.

Chapter 11 Bankruptcy

Chapter 11 Bankruptcy is often referred to as a “business reorganization.” Chapter 11 Bankruptcy allows qualified business (and individuals) to reorganize their obligations and pay their debts with a new payment plan, but allows the business to continue to operated while paying their debts. Chapter 11 bankruptcy allows the creditors to be actively involved in the debtors’ financial affairs by having a vote on the businesses financial plan.

Chapter 13 Bankruptcy

Chapter 13 Bankruptcy is a debt consolidation proceeding by allowing a consumer or business owner to restructure their debt. A repayment plan is structured by you, your Bankruptcy Attorney and the court so that the consumers payments are reduced and made more affordable. Even when a consumer is unable to repay all of their debts in full, they may be entitled to receive a discharge of their remaining debt at the end of the payment plan. If you home is in foreclosure, Chapter 13 of the Bankruptcy Code can consolidate your debt and will all you to keep your home while steadily reducing your debt to a manageable level.

Texas Board Certified Consumer Bankruptcy Attorney

When there is never enough money at the end of the month to meet your financial obligations, a Board Certified Consumer Bankruptcy Attorney will understand your fears and frustrations. Financial stress can destroy lives. A Board Certified Bankruptcy Attorney can help get you through the entire bankruptcy process. The State of Texas recognizes and certifies Texas Consumer Bankruptcy Attorneys. Board Certified Attorneys or Lawyers that have received the certification in Consumer Bankruptcy will generally display their Board Certified Badge on their website or other forms of advertising. The process of becoming a Board Certified Consumer Bankruptcy Attorney requires a great deal of expertise in the area of Texas Bankruptcy Laws. Although any lawyer licensed to practice law in the State of Texas can call themselves a Texas Bankruptcy Attorney or Texas Consumer Bankruptcy Lawyer, only Board Certified Texas Bankruptcy Attorneys are allowed to refer to themselves as Board Certified Consumer Bankruptcy Attorneys. This distinction allows the public to know that a lawyer has met the difficult requirements of the State of Texas to be certified as a Board Certified Bankruptcy Attorney. Visit our website