Smith County Chapter 13 Bankruptcy Lawyer

Serious debt can affect an entire family. The stress, frustration, and anxiety caused by debt can seem impossible to overcome. However, with the help of an experienced bankruptcy attorney, you can manage your debt and move on with your life. With more than two decades of experience, at the Campbell Law Firm we know how to handle bankruptcy cases. To speak to a highly qualified lawyer, contact us today.

What is Chapter 13 bankruptcy?

Chapter 13 bankruptcy focuses on reorganizing debt so that it can be paid back in a reasonable amount of time. Unlike Chapter 7, Chapter 13 bankruptcy does not involve the liquidation of all assets. Instead, the debtor agrees to pay back his or her creditors in a period of three to five years. This type of bankruptcy is especially beneficial to individuals who have non-exempt property they want to keep.

However, Chapter 13 bankruptcy in Smith County is not for everyone. People who have a steady income may want to choose Chapter 13 since it relies on your ability to repay your debts in a relatively short amount of time. Additionally, Chapter 13 is right for you if you have property that you do not want seized or if you have secured debts.

Steps for filing Smith County Chapter 13

• Consider alternatives: While bankruptcy can remove the burden of debt from your life, you should always consider alternatives. First, contact creditors. Sometimes, a creditor is willing to reduce debt payments. Additionally, you may want to take a credit counseling course.
• Determine what Chapter is best for you: You have a few different options if you choose bankruptcy. Chapter 7 is ideal for people who are facing tremendous debt, have little to no income, and few assets of value. Chapter 11 is suitable for businesses of any size that are still profitable. Chapter 13 is best suited for people who have a consistent income and believe they can repay creditors within five years.
• Seek legal aid: If you are considering bankruptcy, you must speak to an attorney. A lawyer can guide you through the filing process and recommend the right course of action for you.

For legal advice, call today—Tyler: 903.593.6899 , Mineola: 903.569.0000 or Toll Free: 877.569.0010

Bradley Campbell is an attorney with more than 24 years of bankruptcy experience. He has handled more than 2500 bankruptcies over the course of his career. When you retain his services, he analyzes the facts and circumstances of your case to determine whether bankruptcy is the right choice for you. He can explain your legal rights and options to help put your mind at ease. Please call today and speak with us.
We offer a free bankruptcy case analysis.