TX Bankruptcy Attorneys - Texas Bankruptcy Lawyers
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Find your Options for a Debt Free Life, by filling out the Evaluation Form at a Texas bankruptcy lawyer in your area.
Your evaluation will be completed by the bankruptcy lawyer within one business day.
Dallas, Texas Bankruptcy Attorneys
Texas bankruptcy laws allow for a person to receive a discharge of their eligible debts so they can begin rebuilding their financial future without the burden and stress of debts they will never be able to repay and the stress from creditor harassment for repayment.
Texas bankruptcy laws provide individuals with the opportunity to file under chapter 7 or chapter 13 - the two chapters of the Bankruptcy Code available for individuals. Your bankruptcy lawyer can help you analyze your finances and debts to determine which chapter of the bankruptcy code is appropriate for you to file under.
Chapter 7 is a liquidation bankruptcy and allows a debtor to receive a discharge of their eligible debts in exchange for a liquidation of any of the debtors' property that is not protected by the bankruptcy exemptions in Texas. Chapter 7 is the most common chapter of the Bankruptcy Code.
Chapter 13 is a reorganization bankruptcy that allows debtors to propose a repayment plan (that includes a portion of their debts) to repay their debts to their creditors. Chapter 13 allows for the debtors to repay their debts at more favorable terms and without interest charges. Chapter 13 also provides protection from creditors and full protection from the bankruptcy court.BankruptcyAction.com on Google+