Bankruptcy Lawyer Frisco, TX
If you’re struggling with debt and thinking about filing for bankruptcy in Texas, it’s important to speak with an experienced bankruptcy lawyer Frisco, TX residents trust before trying to file any bankruptcy-related paperwork. The bankruptcy process must be approached in a very specific order. If you skip steps at the beginning of the process, your case may get dismissed before you’ve had a chance to explain why you’re entitled to debt relief. Working with the experienced legal team at The Allmand Law Firm, PLLC will help to ensure that you approach the bankruptcy process in an informed and deliberate way. We’ll make sure that your case is as strong as possible so that you have the greatest possible opportunity for success.
Texas Bankruptcy Districts and Education Requirements
One of the primary reasons why it’s important to connect with a Frisco, TX bankruptcy lawyer before filling out any paperwork is that not all Texans are required to file the same paperwork. The state of Texas is so populous that the U.S. bankruptcy court system has divided Texas into four bankruptcy districts: The Northern District of Texas, The Southern District of Texas, The Eastern District of Texas, and the Western District of Texas. Frisco residents are required to file in The Eastern District of Texas. Each district requires slightly different forms. Most of the forms you’ll fill out are standard, federal bankruptcy forms. However, we’ll be able to advise you regarding the forms that serve as exceptions in the Eastern District of Texas.
Another reason why it’s important to seek legal counsel before beginning any bankruptcy paperwork is that filers are required to complete a pre-filing education course before submitting their bankruptcy petition to the court. This educational course concerns the subject of credit counseling. Its content is designed to better guarantee that prospective bankruptcy filers understand their options and understand the potential consequences of filing for bankruptcy. If you don’t complete a course that is specifically approved by the U.S. Justice Department for filers in the Eastern District of Texas, the course won’t “count” towards your filing requirements and your bankruptcy case could be rejected as a result.
Legal Assistance Is Available
Working with an attorney can seem like one more reason why the bankruptcy process is stressful. However, connecting with a lawyer early in the process can actually save you time, stress, and even money. Obtaining knowledgeable guidance will help to ensure that you don’t approach the bankruptcy process in an order that endangers the success of your case and/or wastes your time. Additionally, allowing our team to do the legal “heavy lifting” on your behalf will free you up to focus on the other challenges in your life that need your attention at the moment. Don’t hesitate – call an experienced Frisco, TX bankruptcy lawyer at our firm today; we look forward to helping you navigate this process successfully.
How to Talk to Your Family About Your Bankruptcy
If you’ve decided to file for bankruptcy, you may be wondering if you should tell your family about it or not. Many people are embarrassed about filing for bankruptcy and may be reluctant to tell anyone about it. However, if your family members are fully involved in your life, it may be best to let them know. Here are some tips to talk to your family about your bankruptcy.
- Have the Conversation Soon: When it comes to a topic like bankruptcy, you may be tempted to put off the conversation as long as possible. However, you shouldn’t wait until you’re in the middle of your bankruptcy to have this conversation. You’ll already be dealing with so much at that point and might not want the extra stress of having the talk. Instead, talk to your family about your decision early on. Tell them why you have decided to file for bankruptcy, whether it’s due to job loss or medical debt, and whether not it will affect any family plans. Additionally, you should let them know that there isn’t anything immoral about filing for bankruptcy. It’s a legal process and doesn’t make you an irresponsible person.
- Explain the Plan: Your bankruptcy lawyer in Frisco, TX may suggest explaining at least the basics of your bankruptcy plan to your family. Whether you have decided to file for Chapter 7 or Chapter 13, provide an overview of what your plan will look like and how it will affect your life for the next few years. For example, if you’re filing for Chapter 13, tell them that you will still be required to make payments to your creditors for three to five years and that you have to readjust your budget.
- Discuss Loans With Them: Before you talk to your family about your bankruptcy, ask yourself if the bankruptcy will affect them directly. For example, if they co-signed on a vehicle, you may want to tell them if it will be discharged or changed into a new payment plan. Additionally, if your family members loaned you money to get through tough financial times, explain to them that you can’t repay them right away. You have to repay your creditors first.
- Highlight the Benefits of Bankruptcy: Many people focus on the negative aspects of bankruptcy, such as a lower credit rating. That’s why you should highlight all of the positive aspects of bankruptcy when talking to your family members. For example, you could tell them that you will get a financial fresh start and be able to save money for the future.