Texas Top Spanish Speaking Bankruptcy Lawyer

Dallas Texas Area Chapter 7 & Chapter 13 Attorney Services

¿Qué bancarrota es mejor?

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.

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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.

¿Por qué la quiebra no es siempre mala?

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For many people, a huge appeal of the bankruptcy procedure is the automatic stay, which means that from the moment you file your bankruptcy with the court, your creditors are prohibited from contacting you, from trying to repossess your car, garnish your wages or continue on a home foreclosure. However, there are exceptions to the bankruptcy automatic stay and it is worth making yourself aware of them before you file.

One of these exceptions to the bankruptcy automatic stay is child support and another is alimony. These are two specific items which, even if you are successful in your petition to declare chapter 7 bankruptcy, will not be discharged wither.

One other thing worth noting is that if you have filed a petition to declare yourself bankrupt within the last year and have subsequently had that petition dismissed, for whatever reason, upon filing this time around you may find that you are not entitled to any of the benefits of the bankruptcy automatic stay. This is put in place to prevent people from abusing the system.

Ley de Prevención de Abuso de Quiebra y Protección al Consumidor

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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.

¿Que no puede hacer una quiebra por usted?

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The world of corporate bankruptcy law can be complex and intimidating. Don't let confusion get in the way of making the best decisions for your company: read on to get answers to the most commonly asked corporate bankruptcy questions.

Q. What is bankruptcy?
A. When a business has financial liabilities that exceed their assets or is unable to meet financial obligations, that company is insolvent-unable to pay their creditors, the company must come to an agreement with their creditors regarding payment or file for bankruptcy protection. This judicial solution gives the courts the power to settle the company's debts. Bankruptcy proceedings can be initiated by the debtor or by the creditor (called an involuntary bankruptcy). Filing a bankruptcy petition affects all of your creditors including:

  • Secured creditors (those with a lien on your property)
  • Unsecured creditors (vendors, credit card companies and others without a security interest in your property
  • Judgment creditors (creditors who have sued and obtained a judgment against the debtor prior to the bankruptcy filing)
  • Creditors with super priority claims (those with priority over other creditors because of special rules within the bankruptcy)
  • Creditors with administrative claims (creditors such as accountants or lawyers with priority because of their assistance in the bankruptcy filing)
Q. What does filing for bankruptcy mean for my business?
A. Filing a bankruptcy petition simply starts a legal proceeding, with no guarantees regarding the outcome. That is to say, the debtor will present evidence of its insolvency, but there is no guarantee that the court will declare them bankrupt. This statutory process gives creditors and other parties the opportunity to challenge the debtor's allegations and object to the relief being sought by the debtor.

While it may be surprising that creditors are willing to participate in business workouts, they're more likely to receive greater compensation for their debts if your company does not file for bankruptcy. Using an alternative to corporate bankruptcy proceedings benefits creditors as well as the debtor, because some, or even most, of the debt will not be repaid under a bankruptcy proceeding. Secured debt, unsecured debt, and tax debts can all be resolved as a part of a workout. For additional information about business bankruptcies and your company, contact your area bankruptcy lawyers.