Benbrook Chapter 13 Bankruptcy Attorneys
If you are searching online for a bankruptcy lawyer, then chances are you are over your head in debt and seeking answers to your financial problems. In addition, you are probably trying to figure out how to keep from losing your home and car and how to keep your creditors from harassing you. You may have decided that filing for bankruptcy is your best, and last, chance to get out of debt and get a fresh start.
If you are contemplating filing for bankruptcy, it is important to have a clear understanding of the process and the consequences of bankruptcy. You also need to have the guidance of an experienced bankruptcy attorney by your side to help you successfully navigate the bankruptcy process.
Our Benbrook bankruptcy attorneys are here to help you get the debt relief that helps you move forward with your life. We have experience working with clients who have been in similar circumstances as you and we are able to help you, too. Call us today to schedule a free initial consultation to discuss your options and determine whether bankruptcy is the right choice for you.
Understanding Bankruptcy
The fear of bankruptcy stems from not truly understanding what it is and all the many advantages it can provide. Filing bankruptcy can release you from almost all your possible debt and allow you to rebuild your life with better money habits. Filing for bankruptcy does not mean you are a failure, that you will lose everything you own, that your credit is ruined, or that you’ll be publicly shamed.
As soon as you file, all calls, letters and collection actions by your creditors stop immediately, with no further wage garnishment, liens or foreclosure. Your debt-to-income ratio will improve, and, as a consequence, your credit ratings will likely increase rather than diminish. Our Benbrook bankruptcy attorneys will work things out with the courts to either have your debt eliminated or restructured into a paydown program. Your debt will be erased, and your peace of mind will be restored.
Your Bankruptcy Options
There isn’t a one-size-fits-all bankruptcy that fits everyone, so there are different options for different situations. The type of bankruptcy you choose will depend on your financial situation, including your debts, assets, income, and whether you have any non-exempt property that creditors may seize. There are two main types of bankruptcy for individuals: Chapter 7 and Chapter 13.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy, sometimes called wage earner’s or debt reorganization bankruptcy, helps you repay your debts over time under a court-approved plan. Chapter 13 is for those with a steady income who are in substantial debt and face foreclosure or car repossession. This bankruptcy is for people who are overdue on their mortgage or other secured obligations, like a vehicle loan. Chapter 13 bankruptcy lets you offer a repayment plan to creditors and keep your property.
The court will decide how much to pay creditors over three to five years. Once a plan is filed with the court, wage garnishments, bank levies, and other collection measures against you will cease. While in bankruptcy, creditors cannot contact you or collect debts. This is significant since you may rebuild your credit while filing bankruptcy. The court will help you decide on a manageable monthly payment, order your creditors to discontinue collection attempts, and enable you to pay the bankruptcy trustee monthly.
Call Our Benbrook Bankruptcy Attorneys At Machi & Associates
We have seen many families in difficult financial situations similar to your own. It’s the reason we do what we do—to help people just like you. For over 30 years, we have been helping people find the relief they need to move forward with their lives. We are committed to providing you with the best possible legal representation, with sympathy and compassion. We’ve seen too many lives ruined by the burden of excessive debt. We know how to protect you from creditors and how to help you get the financial fresh start you need. Call our Benbrook bankruptcy attorneys for a free consultation and let us help you get back on the road to financial recovery today!
