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Finding a Texas Bankruptcy Lawyer

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Finding a Texas Bankruptcy Lawyer

When you start looking for a Texas Bankruptcy Lawyer, it is important to realize there are many types of bankruptcy filing choices. Laws vary from state to state and sometimes the federal government may have jurisdiction over a bankruptcy case.

Before making a decision about whether you will file Chapter 7, Chapter 11 or Chapter 13 it is necessary to review the reasons you are considering this action. Has your debt outgrown your assets? Are you fearful of losing your home or depleting your savings? You should make the finally decision after consulting a Texas Bankruptcy Lawyer if you current reside in the state.

If your assets are limited and your debts are mainly common debts--such as medical bills and credit card charges, you may want to consider filing for Chapter 7. A successful Chapter 7 case will discharge all or part of your debt while allowing you to retain some of your assets. In Texas, there are limits on the value of personal property you are allowed to keep. These limits are based on whether or not you are an individual or you are the head of household. Another consideration is where you physically live, in town or on a ranch or farm.

The two most common bankruptcy types in Texas are Chapter 7 and Chapter 13.  Chapter 7 is for individuals and families that do not have enough assets to pay their debts and they need to request the majority of their debt be discharged or "forgiven”.  Chapter 13 allows the debts to be reorganized in a way that allows a more manageable payment plan.  It may discharge part of the debt, but there is evidence that you can repay at least some of the debt without extreme financial burden.

It is important to talk with your Texas Bankruptcy Lawyer to decide which type of relief is better suited to your circumstances.  Sometimes your attorney may be able to suggest alternative action that will provide relief without destroying your credit and credit relationships. Look for an attorney that knows the statutes of Texas-and in particular bankruptcy statutes.

Some of the key features of Chapter 7 bankruptcy processes are listed below.
1.  Filers must qualify through an income test.
2.  A means test is applied to determine eligibility.
3.  Exempt property is protected.
4.  State or Federal laws can control the exemption value and type.
5.  Personal property exemptions for a head of household are limited to $60,000
6.  You cannot move to Texas to seek a better bankruptcy outcome.

It is important to make a full list of assets (cash, property and retirement benefits) and liabilities (debts your owe) to discuss with your Texas Bankruptcy Lawyer. Include a detailed listing of items that may qualify as personal exemptions.  This list should include automobiles, your homestead, livestock and furniture.

You are making an important decision; you do not have to do it alone. Visit and allow us to lead you through the process.