Bankruptcy

Texas Bankruptcy Lawyers

If you are in over your head, drowning in bills, and need a fresh start, Chapter 7 bankruptcy may be a good legal solution for you and your family. Are you the owner of a small business that is struggling through tough times, despite twelve-hour workdays? Chapter 11 bankruptcy or Chapter 13 bankruptcy is an opportunity worth investigating.

Our founding fathers recognized the need to help people start over

Since 1985, the attorneys of Hayes, Berry, White & Vanzant, L.L.P., have helped hundreds of individuals, families, and business owners find a firm financial footing and escape from the aggressive collection efforts of creditors. Bankruptcy isn't necessarily a result of poor financial discipline or irresponsibility. America is a land of fresh starts and new opportunities. Bankruptcy laws are in place to help hard-working people like you start over after a financial setback.

Contact our offices in Denton, Texas, to discuss your bankruptcy or debt reorganization needs. We talk with people who have many of the same questions regarding bankruptcy. For your convenience, we are including several frequently asked questions on this page. The brief answers are not intended to serve as legal advice. Please contact us for a full consultation.

What is bankruptcy?

Bankruptcy is a procedure that allows an individual or corporation to eliminate or reorganize their debt under the protection of the bankruptcy court.

Can I eliminate all of my debt through bankruptcy?

Chapter 7 bankruptcy law is also called liquidation. It is the most common type of federal bankruptcy filing, and allows you to eliminate your unsecured credit card debt, as well as some secured debt. Federally backed loans such as student loans, SBA loans, and tax debts cannot be eliminated through Chapter 7. At the end of the bankruptcy, you will no longer have unsecured consumer debt, but you will lose all assets other than exempt property.

Can I reorganize my debt?

Chapter 13 bankruptcy is a reorganization of debt that allows you to consolidate your bills and pay all or a portion of what you owe over a period of time under a plan of repayment. Recent changes in chapter 13 bankruptcy law have made it easier for debtors to get out of the red. Chapter 13 allows you to lump all of your debts into a reorganization plan that can save you thousands of dollars in interest and penalties. This includes student loans and tax debts.

Debtors usually pay monthly installments for several years to a court-appointed trustee who distributes the money to creditors. Filing for bankruptcy under Chapter 13 can stop foreclosure on homes, but strict budgets are set up and must be followed.

I own a small business along with several shareholders. Can we file?

Chapter 11 bankruptcy applies to companies who are in substantial debt. Businesses who file corporate bankruptcy under Chapter 11 can still conduct day-to-day business and continue to reorganize their company.

Hayes, Berry, White & Vanzant can help

A qualified attorney makes filing for bankruptcy and going through a bankruptcy case easier on you. Hayes, Berry, White & Vanzant is an aggressive and experienced bankruptcy law firm that understands consumer bankruptcy law.

Contact our offices in Denton, Texas, to schedule a consultation about how we can help you get the fresh start you need.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.