A Professional, Compassionate Chapter 7 Bankruptcy Lawyer Clients From the Greater Round Rock, TX Area Can Confide In
Filing for Chapter 7 bankruptcy? Before you decide to do so, it’s best to consult with a law firm that specializes in bankruptcy such as The Gallini Firm. Our Chapter 7 bankruptcy lawyer can help clients from and near Round Rock, Texas:
- determine your eligibility for Chapter 7
- assess what assets are protected and the treatment of nonexempt assets
- shorten bankruptcy filing process
- review which unsecured debts will be forgiven
A Chapter 7 Attorney Who Guides You on the Pros and Cons of Filing for Bankruptcy
Declaring bankruptcy is a serious financial decision that should be made with the help of a qualified bankruptcy attorney. Under the rules found in chapter 7 of the Bankruptcy Code, debtors pursuing this debt-reduction option are required to totally liquidate a number of personal assets in order to satisfy and discharge debts. This is of course, after declaring which assets are exempt by law from liquidation. The less-invasive option, Chapter 13 bankruptcy, is also an option for some debtors and your Round Rock Chapter 7 bankruptcy attorney can help you better understand the differences between the two paths. As you consider your financial options moving forward, understand that there are many “debt recovery” companies out there trying to scam you out of your hard-earned monthly income. We encourage you to avoid working with any entity other than a reputable, experienced Round Rock Chapter 7 bankruptcy attorney like found at The Gallini Firm.
Let’s weight the pros and cons of filing for Chapter 7 bankruptcy:
Pros
- Absolute Debt Cancellation: Many debts are wiped-out after receiving a discharge order from the court. You no longer have to pay those debts, giving you the freedom and peace of mind needed.
- Get Out of Bad Contracts: A person can surrender a vehicle, house or lease legally as part of the bankruptcy process. The debt is then discharged.
- Much More Affordable: Chapter 7 bankruptcy is for those who qualify and cannot afford to push through with debt repayment and restructuring options.
- Faster: The typical Chapter 7 bankruptcy case lasts about 90 days.
Cons
- Won’t Fix Mortgage or Car Payments that are Behind: A creditor can request to foreclose or repossess a house or car if the payments are not current when the case is filed.
- Can Lose Non-exempt Assets: A bankruptcy trustee can seize and sell any assets that are considered non-exempt, like extra vehicles, boats, stock options and investments, business interests, among others.
Chapter 7 bankruptcy proceedings begin when the debtor decides to file his or her initial bankruptcy petition. An individual can file with or without a spouse joined. Once filed, the court will assign a trustee to oversee the case and will schedule a meeting of the debtor’s creditors within a few weeks of the filing of the petition. Your Round Rock Chapter 7 bankruptcy lawyer will help you compile a list of your creditors, all of which must be notified in order for the proceeding to advance. Your Round Rock Chapter 7 bankruptcy attorney will also help you organize and list your assets, reference exemptions for assets, and provide all required documentation for proof of income, filed tax returns, etc. Another key component of the bankruptcy process is the mandatory credit counseling course that must be completed before the case is filed. It is available online and can be completed 24/7. There is also a financial management course that must be completed in order to successfully conclude your bankruptcy case and may be of some help to you and your family as you begin your fresh financial journey.
Chapter 7 bankruptcy proceedings may seem daunting at first, but this process can offer debtors much-needed relief from the constant hassle of creditors and debt collection agencies. In order to advance your best case, we encourage you to contact a Round Rock Chapter 7 bankruptcy lawyer right away. To speak with an experienced Round Rock Chapter 7 bankruptcy attorney familiar with federal bankruptcy laws and conveniently located in Round Rock, Texas, call The Gallini Firm, PLLC today at 512-238-8883.
Consult With a Chapter 7 Bankruptcy Lawyer to Finalize Whether Bankruptcy Is the Best Solution
Deciding whether filing for bankruptcy is the best path to take is no easy matter. The pressure might even cause you to make ill-advised decisions.
If you are going through this ordeal, we strongly urge you to consult with our Chapter 7 bankruptcy lawyer. We have the experience and knowledge to provide you with sound, professional legal advice. It’s our mission to help you achieve true financial freedom. Clients from and around Round Rock, TX can schedule for consultations at (817) 303-2820.
