Dallas, Fort Worth Chapter 7 Bankruptcy Help

It is very common for people to get in over their heads with debt. Chapter 7 bankruptcy allows you to liquidate unsecured debt and start over with a clean slate.

Dallas, TX Chapter 7 Bankruptcy Attorney

There is no telling when financial hardship will strike. Financial problems commonly arise from an unexpected medical illness, unemployment and divorce. When these unexpected expenses occur, they can quickly drain the funds from your bank account, which can have devastating effects on your finances.

If you’re facing debt that you can’t repay, you should get legal advice. Our offices are located in Fort Worth and Dallas, Texas and we help people who need help filing Chapter 7 bankruptcy. We can supply you with all of the information that you need to make an educated decision.

Before you decide what you need to do, you need to get all of the facts from an experienced chapter 7 bankruptcy attorney. If you allow us to help you, we can give you access to all of our years of experience servicing clients in the Dallas,Texas area. At Allmand Law Firm PLLC, we’ve helped thousands of individuals file bankruptcies, which have helped families get a fresh start at life. We can help you to do the same.

What is Chapter 7 Bankruptcy?

Another name for this type of bankruptcy is liquidation bankruptcy. When you file Chapter 7 bankruptcy, you don’t have to pay back any unsecured debt because it’s a legal elimination of the debt. A number of different types of unsecured debts can be eliminated with this type of bankruptcy.

These types of unsecured debt that can be eliminated with Chapter 7 bankruptcy include:

  • Delinquent Utility Bills
  • Credit Card Debt
  • Medical Debt
  • Certain Back Taxes
  • Broken Lease Debt
  • Wage Garnishments
  • Judgments
  • Eviction Debt
  • Auto Repossession

These types of unsecured debts can quickly drain money from your bank account. Unfortunately, many people try to find their own way through financial issues, and they end up borrowing money from one source to pay another. In such a situation, it might be best to file for bankruptcy.

Many people end up working extremely hard to try to pay off their debt, and they end up in a worse situation than when they started. A Chapter 7 bankruptcy could be exactly what you need to get your finances under control. It can enable you to eliminate your debt while getting a fresh start at life.

At Allmand law Firm PLLC, we have years of experience dealing with bankruptcy cases, and our services are especially useful for individuals who want to file for Chapter 7 bankruptcy. Once you contact us, we’re happy to give you the help you need.

The Benefits of Filing Chapter 7 Bankruptcy

Speed

Although there are several benefits to filing for Chapter 7 bankruptcy, some are much more important than others. One of the greatest benefits is the speed. When you file for Chapter 7, it doesn’t take long at all before you can start over in life. After all of the legal documents are filed, you don’t have to worry about paying money out to creditors. All you need to do is work with one of our bankruptcy attorneys. We will make sure all of the bankruptcy schedules are correct and make sure your case is properly filed.

Stop Collection Attempts From Creditors

It’s nearly impossible to find another method that will wipe out all of your unsecured debt within four to six months. This is the amount of time required for Chapter 7 bankruptcy. It will completely liquidate all of your unsecured debt. Another amazing benefit of filing for Chapter 7 is the relief from creditors. If you’ve owed a significant amount of debt for a while, you probably have creditors calling you constantly. A very distinct advantage of filing bankruptcy is the fact that creditors must follow rules. Once you’ve filed the necessary legal documents, creditors cannot legally contact you any longer.

Quickly Rebuild Your Credit

The bankruptcy code prevents creditors from pursuing judgments, garnishing wages and harassing you. They won’t be able to call you anymore, and you can avoid foreclosure and repossession.There is another significant advantage of filing for bankruptcy, and it involves your credit. When you file for Chapter 7 bankruptcy, you have the potential to rebuild your credit much faster than if you didn’t file. This is a benefit that is frequently overlooked. The majority of individuals who file for Chapter 7 bankruptcy are extremely surprised to learn that they’re able to keep their belongings.

These items could include:

  • Cars
  • Homes
  • Furnishings
  • Cash
  • Retirement Accounts
  • Household Goods

The Process for Chapter 7 Bankruptcy

If you’re like most people, then you’re probably wondering how long the process takes. In most cases, the entire process requires no more than a couple of months. First, you’ll need to meet with a qualified attorney.  Second, the attorney will evaluate your income and debt situation and talk to you about your options. Third, you will find out if Chapter 7 bankruptcy is the right path to take. The next step involves preparing a bankruptcy petition.

Next, your bankruptcy attorney will make sure he or she has obtained all of the required documents. The next step involves filing your case. You will need to attend a bankruptcy meeting with your assigned Trustee.  In most cases, this meeting will require no more than about 10 minutes of your time, and the meeting doesn’t take place inside of a court room or in front of a judge. You will get your discharge between two to three months after the meeting.

The discharge is the legal document that you need to eliminate any legal obligations you have to pay debt. You’ll also need to complete two courses online, which consists of financial management and credit counseling. This pretty much sums up the entire process for filing Chapter 7 bankruptcy.

What Are the Qualifications For Filing Chapter 7 Bankruptcy?

It’s important to understand that not everyone is qualified for a Chapter 7 discharge. However, the majority of our applicants in the Dallas, Texas area meet the required qualifications. In 2005, the laws for bankruptcy changed. One of the requirements is that you must be able to submit proof of your income. If your income is low enough, you will qualify for bankruptcy.

However, if your income is higher than what is allowed, further eligibility testing could be required. Fortunately, we can give you a complimentary consultation and see if you meet the eligibility requirements.

Contact a Dallas Chapter 7 Bankruptcy Attorney

At Allmand Law Firm PLLC, we understand that financial hardships can affect anyone and for any reason. This is especially true when trying to deal with these issues alone. We can give you the guidance that you need to get a fresh start. If you would like to set up a free consultation with one or our bankruptcy attorneys, feel free to give us a call or fill out our contact form.

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