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How To Find The Right Spanish Speaking Attorney For Your Bankruptcy Needs in Dallas Texas

Ennis Texas

The Spanish Speaking Law Firm focuses on providing affordable, high quality representation for each Hispanic client that desires to achieve a financially solid future. The bankruptcy attorneys at our Spanish Speaking Law Firm have vast experience in protecting individuals from foreclosure, garnishments, repossession and harassing calls from creditors.

When you contact one of our bankruptcy attorneys at our Spanish speaking law Firm, you will meet with a qualified professional who will help evaluate whether bankruptcy is right for you. Our Hispanic attorneys will design a custom plan to suit your unique situation. We value our clients and aim to assist you in eliminating your debt and returning to financial stability. We offer the professionalism of a big law firm with the compassion and personalized service of a small firm.

Farmersville Texas

Cuando la gente habla de declararse en quiebra, usualmente se está refiriendo a la quiebra del Capítulo 7, que permite que usted descargue, o elimine, la mayor parte de las deudas que tiene. En muchos casos, declararse en quiebra bajo el Capítulo 7 es la manera más rápida y fácil de que una persona que debe un montón de deudas vuelva a tener un “inicio fresco” de sus actividades. Siempre que usted sea elegible para el alivio de la quiebra del Capítulo 7, y dependiendo de su situación individual, usted puede llegar a quedar libre de todas las deudas descargables dentro de pocos meses.

 

Why Bankruptcy Should Be Avoided?

bankruptcy chapter 7 cost

When someone needs to file for bankruptcy protection, he or she needs to make one initial decision - the type of bankruptcy that should be filed that's right for the situation.  There are choices for the consumer, namely petitions under either Chapter 7 or Chapter 13 of the United States Bankruptcy Code. 

Below is a brief explanation of how filing a Chapter 7 bankruptcy works, but regardless of your financial situation, you need to seek legal help to make sure that your petition proceeds properly. 

Chapter 7 Explained

If a consumer files a Chapter 7 petition, he or she is filing what's known as a 'liquidation bankruptcy.'  This is because in certain respects, the petitioner will be liquidating a majority of the assets held at the time of the filing, but not all of them, as will be explained below.  The steps for filing a Chapter 7 bankruptcy petition are as follows:

  • Note on exemptions - Exemptions are values placed on certain property that cannot be liquidated, as the Bankruptcy Court does not want to leave petitioners completely destitute.  What this means is that you are allowed to keep certain assets up to a certain value including a house, a car, any materials you need for work and even pets, among other things.  Different states have different exemption levels, so you'll need to get those amounts clarified before moving forward.
  • Which Bankruptcy Is Better?

    Addison Texas

    Bankruptcy: the word alone may send chills up your spine. But so should the words "debt", "foreclosure", and "repossession". While bankruptcy may seem undesirable, intimidating, or downright embarrassing, in some instances bankruptcy can be a useful tool and may save you from a life mired in debt. Bankruptcy under chapters 7, 11, and 13 are available to both individuals and businesses, each with its own advantages and disadvantages.

    Chapter 7

    Chapter 7 is a liquidation bankruptcy. This means that, as an individual or business, when you file for Chapter 7 you agree to have some of your property liquidated to pay off your debts. Businesses that file for Chapter 7 will be dissolved and the assets liquidated to creditors. For individuals, some assets may be exempt, such as your home, tools of your trade, and retirement accounts. The laws for exempt assets vary from state to state. All nonexempt items, however, are at risk of being liquidated under Chapter 7. While you may lose a significant amount of property, your debts will be immediately resolved and you can quickly begin to restructure your finances without the burden of debt.

    For More Information

    While many people think of bankruptcy as a single action, bankruptcy actually includes a number of different options for debtors to choose from. When used properly, bankruptcy can save your financial future and help you become debt free.

    Bankruptcy Options - 7, 11, and 13

    Ennis Texas

    When you are faced with a possible bankruptcy, you are faced with a terribly hard decision. Which can you handle better, the overwhelming stress of dealing with such debts or the fact of knowing you did not make it. How else can you possibly get out of this financial mess you find yourself in without ruining your good name or credit? Well, if your credit was that good, would you really be considering bankruptcy?

    How ever you personally answer that complex question, a bit of advice is to seek out a non profit credit counseling service for help. They are professionals trained to help make these decisions with you. You are not in it alone but must seek out the help. They will not come find you.

    It is true if you are looking to put your financial burdens behind you and receive a fresh start,then bankruptcy may be the right decision for you. However, the credit counselors that deal with creditors may be able to negotiate on your behalf and avoid the bankruptcy all together at least for the meantime.

    Clearly no one wants to declare Bankruptcy Guide. I do not believe that an individual would set out and receive credit with the notion that they are going to do all they can to ruin that credit and make it even more difficult to obtain credit in the future. If it does happen that you need to file bankruptcy take the advice of the counselors and try at all cost to avoid future situations that would once again lead you back to bankruptcy court.