Tyler Chapter 7 Lawyer
CAN CHAPTER 7 EASE YOUR FINANCIAL ISSUE? Call Our LAW OFFICES IN Tyler and Mineola Today At (903) 345-0031!
Filing for bankruptcy can be a way to free yourself from the weight of overwhelming debt and creditor harassment and start again. Chapter 7 is one of the most common types of bankruptcy that individuals file for when they feel their debts have grown too out of control.
Why We Are The Right Choice:
- We offer each prospective client a free case consultation
- We have three decades of legal experience
- We have convenient office locations
- We offer our clients affordable payment plans
- We are the recipients of an AV Preeminent® rating from Martindale-Hubbell®
Our founding attorney is a member of the National Association of Consumer
Bankruptcy Attorneys and a member of the National Association of Chapter 13 Trustees
Why File Chapter 7?
Chapter 7 is also known as "liquidation bankruptcy," and it is the simplest form of bankruptcy for debtors. When you file for Chapter 7, your debt is essentially discharged, sometimes via liquidation of your unprotected assets.
In most Chapter 7 bankruptcy cases, you can keep all of your property. Property exemptions follow either federal or Texas property code rules, and most people are pleased to learn they can keep most of their assets while discharging their debts by filing for a Chapter 7 bankruptcy.
Chapter 7 exemptions in the state of Texas include:
- Unlimited homestead exemption for qualifying residences
- Motor vehicle exemption totaling the entire value of one vehicle per household member
- Specific personal property exemptions for firearms, athletic equipment, religious writings, jewelry, animals, and health aids
- Specific pension and retirement account exemptions for state, county, and district employees as well as firefighters, judges, police, emergency personnel, and teachers
Our attorney can help dismiss most, if not all, of your debts so you can start rebuilding your credit. Contact us today to begin your journey towards financial freedom.
Who Qualifies for Chapter 7?
Individuals interested in filing for Chapter 7 must pass what is known as a means test. This test will determine whether or not you are eligible for a Chapter 7 bankruptcy by taking things such as your income and family situation into account.
A Chapter 7 bankruptcy case is available for individuals who meet the following requirements:
- No regular income, or not enough income, to repay creditors under a Chapter 13 payment plan
- Full disclosure of all assets and all debts
- No previous Chapter 7 bankruptcy cases discharged within the last 8 years, or Chapter 13 bankruptcy cases discharged in the past 6 years
Can Chapter 7 Resolve All of My Debts?
Although Chapter 7 can erase most all of your debts, such as credit cards, medical bills, lawsuits, debts left over from foreclosure and repossession, etc., it is not a solution for eliminating all types of financial obligations.
Debts such as spousal or child support payments, student loans, and most tax debts, cannot be discharged by filing a Chapter 7 bankruptcy. However, a Chapter 13 bankruptcy case can be filed to deal with these issues.
Contact Our East Texas Firm for a Free Consultation
With more than 30 years of experience, our Chapter 7 attorneys in Mineola and Tyler, TX know what personal and real estate property are exempt and which of your debts can be dismissed. We can represent you in a Chapter 7 filing and form a plan to help get your finances back on track.
Contact Campbell Law Firm at (903) 345-0031 to schedule a free consultation and see if filing Chapter 7 is right for you.