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Chapter 7 Bankruptcy

North Texas Attorneys Manage Your Chapter 7 Bankruptcy

Reliable assistance to discharge crushing debt and get a fresh start

If you are struggling to pay your bills but aren’t making any headway paying down your debt, it may be time to consider bankruptcy. However, this is not a decision you should make without getting reliable advice from a reputable bankruptcy attorney who has your best interests in mind. It’s unfortunate, but there are far too many bankruptcy mills that will hastily file your paperwork but won’t take the time to examine your financials in detail. Then, when you get your discharge, you’re not much better off than you were before you filed. At Hayes, Berry, White & Vanzant, LLP, we provide personalized service and make recommendations based on your particular circumstances. If bankruptcy is appropriate, we provide detailed guidance on your rights at every stage of the process. Bankruptcy is intended to help honest debtors get a fresh start; our bankruptcy lawyers help ensure that you get the maximum benefit under the law.

Personal bankruptcy attorneys help you discharge debt through Chapter 7

Chapter 7 is known as liquidation bankruptcy, because the process requires you to surrender certain of your assets to partially satisfy your debt before the court discharges your eligible debt. For many debtors, Chapter 7 is the quickest and most efficient way to become debt-free. However, there are certain points of the law you must understand:

  • You must qualify to file Chapter 7 — You must pass the means test by demonstrating that your income is less than the statewide average for a household of the same size.
  • You don’t have to liquidate everything — Bankruptcy law allows you to claim exemptions for your homestead, vehicles, furnishings, tools of your trade, clothes, jewelry, books and other items. Texas state exemptions are more generous than many other states, especially when it comes to your homestead.
  • Not all of your debt is dischargeable — You can only discharge eligible debt, which includes credit card balances, medical bills, and unsecured personal loans. Debt you generally cannot discharge includes student loans, back taxes, unpaid child support and alimony, fines, liability judgments, and debt you took on in the run-up to your bankruptcy filing.
  • Chapter 7 can stop foreclosure — When you file for bankruptcy, you get an automatic stay, which prohibits your creditors from pursuing collection efforts, including a foreclosure. Texas provides a generous homestead deduction, which in many cases can help to protect a home. If your unsecured debt is preventing you from making mortgage payments, discharging that debt can enable you to keep your home. Finally, if you owe more than your home is worth due to a second or third mortgage, those mortgages might be treated as unsecured debt in your bankruptcy case, and you might be able to discharge them.

Many people who file bankruptcy hurry through the process without paying enough attention to the details. In doing so, they miss opportunities to hold onto assets and maximize their protection under the law. Sadly, this also occurs in business bankruptcy. However, our bankruptcy lawyers take the time necessary to get your filing right, because we are committed to making the law work for you.

Preparing for your bankruptcy consultation in Denton and Flower Mound

When you visit us for your first bankruptcy appointment, it helps if you come prepared. Please gather the following documents and bring them to our office:

  • Proof of income
  • Banking records
  • Two years of state and federal tax returns
  • Budget of household expenses
  • Financial account statements
  • Financial asset documentation

This information can give our attorneys a complete picture of your financial situation so we can advise you on the best course of action. If bankruptcy is appropriate for you, you can trust us to provide detailed assistance throughout every step of the process. In most cases, Chapter 7 bankruptcy lasts about three or four months. At that point, the court discharges your eligible debt and the relief you sought is yours.

Contact our committed North Texas lawyers for Chapter 7 bankruptcy advice

Hayes, Berry, White & Vanzant, LLP represents North Texas clients in consumer bankruptcy filings. Call us at 940-230-2386 or contact us online to schedule a consultation. We have four North Texas offices, located in Denton, Flower Mound, Gainesville and Celina.

  • "Absolute best in the business hands down! Don White is absolutely amazing wouldn’t ever consider using anyone else, we highly recommend this firm!" - Alyssa McKissaack

  • "The best! Richard has been my family’s attorney for 35 years. Integrity best describes Richard Hayes." - John Grafa

  • "From my first meeting with Mr. Berry and his staff, I was immediately relieved. The bankruptcy process was explained to me simply and objectively and I was made to feel at ease through the entire ordeal. I was especially impressed by his helpful and knowledgeable assistant, Jackie Cox. I would hope to be able to retain Byron Berry for any future needs." - Anonymous

  • "Great Firm with Great Lawyers! It was a great pleasure working with William and his team." - Collin R. Geis

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