Bankruptcy allows you to have some breathing room and protection from creditors while you straighten out your financial house.It will stop the creditor calls, letters, demands for payment, and any lawsuits.
If you’ve had a foreclosure in the past and defaulted on certain government loans, any tax refund you may be entitled to receive may be seized from now until the whole amount is paid unless you wipe out the debt in a bankruptcy. If you can never afford to repay the delinquency, then consider a bankruptcy. Otherwise, you’ll never see another tax refund.
If you’re divorced and your credit is being ruined by an ex-spouse who agreed to pay the credit card debts and he or she has stopped paying, consider bankruptcy if you cannot pay those debts. That is the only other way to deal with those debts.
If you’re a senior citizen or on a fixed income and are swamped with medical or prescription debts of yours or your spouse and you’ll never be able to catch up or repay those debts, then consider the peace of mind you’ll get by filing bankruptcy, keeping all of your existing property, getting rid of the debts while having more money in your pocket for the things that really matter.
Because the eligibility requirements for filing a chapter 7 depends on your income, if you lost your job, have suffered an injury, or you’ve been off work and your income has been greatly reduced in the past few months, consider filing for bankruptcy now, while your average gross monthly income is low and you can automatically be eligible for a 7. Once your income increases with a new job or higher paying job or working more hours, you’ll be less likely to be able to qualify for a chapter 7 if you’re a high income individual.
You’ll get to keep any wages you earn or property that you get after bankruptcy. So, even if you file now with a low paying job, you can keep any additional monies received within months of filing (with certain exceptions).
Your chapter 7 case is over in 4-6 months! Within this time, you stop the threats, stop the financial stress, and get to start over with a financial fresh start!
Bankruptcy can also help you sleep better at night! Now that you’ve made the decision to file, you’ve dealt with your financial demons, made a plan, took some action, and you know the results are just around the corner—a fresh start, a do-over with your Order of Discharge. Most of our clients tell us they wish they had filed sooner and started the process much earlier as it would have saved them grief, anger, marital strife, aggravating phone calls from creditors, harassment. You get the idea.
Lucy Hebron represents clients in East Texas counties: Camp, Cass, Harrison, Marion, Upshur, Anderson, Cherokee, Gregg, Henderson, Panola, Rains, Rusk, Smith, Van Zandt and Wood and the following cities: Pittsburg, Linden, Marshall, Daingerfield, Gilmer, Palestine, Jacksonville, Longivew, Arp, Athens, Brownsboro, Carthage, Overton, Emory, Henderson, Kilgore, Tyler, Bullard, Elkhart, Frankston, Rusk, Mt. Enterprise, Gun Barrel City, Canton, Quitman, Hideaway Lake, Lindale, Whitehouse, Troup, Winona, Van, Ben Wheeler, Grand Saline, Fruitvale, Edgewood, Wills Point, Quitman, Mineola, Hawkins, Yantis, Alba, Tatum, Holly Lake Ranch and Winnsboro.
We are a debt-relief agency. We help people file for bankruptcy under the Bankruptcy Code.
The information on this site is for general information only. Nothing on this site should be taken as legal advice for your individual case. You should consult an attorney for advice on your own situation.