Texas Top Spanish Speaking Bankruptcy Lawyer

Dallas Texas Area Chapter 7 & Chapter 13 Attorney Services

Lavon Texas

Major life events like a job loss, illness, or divorce can wreak havoc on your personal finances causing the need for Dallas TX bankruptcy information. From late charges and interest rates to bill collectors and foreclosures, suddenly it seems your world has been turned upside down. If you are considering personal bankruptcy in Dallas, know that there is relief, and there are options for Spanish speaking individuals. You just need an experienced Spanish speaking bankruptcy attorney at your side.

Lancaster Texas

Dallas Texas el Capítulo 7 es el capítulo relativo a la liquidación del Código de Quiebras. Los casos del capítulo 7 son comúnmente llamados quiebras directas ó casos de liquidación, y pueden ser presentados por un individuo, una corporación ó una sociedad. Bajo el capítulo 7, se designa a un fideicomisario para que venda y cobre todas las propiedades que no se encuentren exceptuadas é utilice cualquier procedimiento para pagar a los acreedores. En el caso de una persona física, al deudor se le permite demandar la excepción de ciertas propiedades. A cambio de ello, el deudor obtiene una descarga, lo que significa que el deudor no tiene que pagar cierto tipo de deudas. Las corporaciones y sociedades no pueden acceder a estas descargas. Consecuentemente, cualesquiera individuos responsables legalmente de las deudas de una sociedad ó corporación, continuarán siendo responsables de las mismas. Por lo consiguiente, en las quiebras de las personas físicas ellos pueden ser requeridos como ocurre en el caso de las sociedades y corporaciones.

Bankruptcy - Filing For Bankruptcy Chapter 7 & 13

¿Cuál es la mejor bancarrota para presentar?

So many people are finding themselves looking into bankruptcy chapter 13 as they are in financial troubles that they simply cannot find a way out of. In such types of cases, many people are flocking to file a chapter 13. A chapter 13 is where the courts will take your total claimed debts and find a repayment plan that fits in with what you can realistically afford.

For those who have some money to spend on their creditors each month, but that may not have enough to pay what the creditors want from them, the chapter 13 is the way to go. This type of bankruptcy chapter 13 will allow a person to come through and pay everything they owe but there will be a bad marking on the credit report for going through such a process.

In the end, for those who cannot afford to pay back their creditors any other way, the bad mark due to a chapter 13 on the credit report is worth it. When it comes to such proceedings though, it is important to keep in mind that there is also a chapter 7 instead of chapter 13. This is where the court deems that the person filing truly does not have the means or the capability to pay back the debt through a chapter 13. The reasons behind this could vary and each case is looked at individually. In a chapter 7, unlike the chapter 13, the judge will discharge all of the person's debt and leave them without owing a thing.

So whether it is a chapter 13 or a chapter 7 you should make sure that you are being extremely careful when you start thinking about getting more credit again. Since you can only file each chapter once every seven years, including chapter 13, it is important to make sure that you are not getting in to more trouble. If you over extend yourself again, you may not qualify for either a chapter 13 or 7 again. Bankruptcy chapter 13 or even a chapter 7 is not something that you want to treat lightly so be careful.

¿Cuál es la mejor bancarrota para presentar?

Burleson Texas

Bankruptcy is little more than a smack on the hand these days. Creditors are certainly not going to look at you as a wise credit risk after bankruptcy, but that will probably not stop them from extending credit to you anyways. It seems a bit odd that consumers appear to be rewarded for skipping out on their debts through bankruptcy.

We would like to think that anyone who files for bankruptcy must really need the relief to be willing to tarnish their credit for up to 10 years. But how many people are simply abusing the system? Obtaining credit cards and other loans knowing up front that they are going to file for bankruptcy. Some people will even keep up the payments for a while to create the illusion that they really had good intentions of paying upon obtaining the credit. Then they laugh to themselves when they file bankruptcy, knowing they got one over on the creditor.

This isn't to say that everyone who has a bankruptcy on their record is going to be irresponsible with credit again. But the harsh reality is, most will. Most people know what they are getting into when they add more and more payments to their monthly plate, but they are looking for instant gratification. Bankruptcy courts wouldn't be so full today if this country wasn't so bent on instant gratification, but bankruptcy is just another form of it, so off to court we go.

Por qué la quiebra es un último recurso

¿Qué es la Quiebra?

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.