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Texas Bankruptcy - About Chapter 7 Bankruptcy

Chapter 7 Bankruptcy Eliminates Debt. Contact Us for Chapter 7 Debt Relief

Chapter 7 Bankruptcy is a Debt elimination process which can allow you a fresh financial start. If you are feeling constant financial pressure of overwhelming debt, you may consider filing Chapter 7 Bankruptcy as a debt relief option. If you are reading this you may be considering Chapter 7 Bankruptcy as a way to address your debts. You are not alone. Tens of thousands of people in Texas, and millions throughout America have filed for Chapter 7 Bankruptcy to eliminate their credit card debt, lawsuits, medical bills, or simply to obtain a fresh financial start.

Oftentimes people will deny that Chapter 7 Bankruptcy is a debt relief option for them. They may trudge along knee deep in debt, living from paycheck to paycheck, and borrowing from one credit card to pay another. They may have tried alternatives to bankruptcy, credit counseling, and borrowing from their 401ks, but still their debt (and the stress that goes along with it) continues to rise or doesn’t go away. Then one day, an event like a lawsuit from a credit card company, a tax levy from the IRS, a loss of employment or medical illness puts them on the financial ledge. That is usually when most people consider filing for Chapter 7 Bankruptcy. If you are in financial trouble contact Texas Bankruptcy Lawyer R.J.Atkinson for a free bankruptcy evaluation. Don’t wait until financial ruin before considering Chapter 7 Bankruptcy relief.

Like many people living in the Texas area who have already filed for Chapter 7 Bankruptcy, Chapter 7 was probably their best option to keep their property, eliminate their eligible debt, and start over financially. Depending on your situation, Chapter 7 Bankruptcy may be a debt relief option for you to do the same.

Chapter 7 Bankruptcy can do a lot for someone who needs a fresh financial start. Despite what you may heave heard in the media about the latest changes to the bankruptcy law, Chapter 7 Bankruptcy is still available. Most people who were eligible before the laws changed are still eligible to file now. There is now a means test for individuals, as well as some other prefiling requirements, but for the majority of those in Texas who need bankruptcy protection, many are still eligible to file Chapter 7 Bankruptcy.

A Chapter 7 bankruptcy is kind of like a personal going out of business sale. After filing a Chapter 7 petition with the Bankruptcy Court, you essentially turnover all of your personal belongings, assets, and property over to a Chapter 7 Trustee appointed by the Court. The Trustee inventories the property and then sells it. After the sale the Chapter 7 Trustee then distributes the money to your creditors in accordance with their claims. Although this may sound like you will be loosing all of your property, that’s not what actually happens.

In a Chapter 7 Bankruptcy most people don’t lose anything at all. Most individuals filing for Chapter 7 Bankruptcy in Texas are allowed to keep all of their property. That’s because the Bankruptcy Code allows you to keep a certain amount of property which is considered by both Federal or Texas law to be “exempt” from creditors. These Federal exemptions or Texas exemptions are categorized by the type of property such as your homestead, your household furnishings, clothing, tools of the trade, etc... You can’t use both Federal and Texas but you can choose which exemption scenario best suits your particular circumstances.

Most people in the Texas area utilize Chapter 7 Bankruptcy to eliminate credit card debt, payday loans, medical bills, certain taxes, and other eligible unsecured debt. If you are behind on your mortgage or car payment, you cannot get rid of those debts in a Chapter 7 Bankruptcy without loosing your home or your car. Any payments that you may be behind on, like your house or your car are considered secured debts. If you choose to address these types of debts in bankruptcy without loosing your house or car, then filing a Chapter 13 Bankruptcy and repaying the missed payments through a Chapter 13 repayment plan is an option.

Chapter 7 Bankruptcy was designed for consumers and businesses that need relief from their creditors and collection activity. Chapter 7 bankruptcy can provide debt relief to those who simply want to eliminate as much of their debts as allowed by law and to start over. Credit card debt, medical bills, payday loans, as well as certain taxes, judgments, lawsuits, and most all other types of unsecured debt can be eliminated in a Chapter 7 Bankruptcy.

Contact the Texas Bankruptcy Attorneys at The Law Offices Of R.J.Atkinson for a free initial consultation to assess your financial situation and to make an informed decision on how to deal with your debt.

If you are thinking about filing for Chapter 7 Bankruptcy, contact us. Whether you live in Houston, Austin, San Antonio, Dallas, or anywhere in the State of Texas, or most anywhere in the great State of Texas, contact the Texas Bankruptcy Lawyers at The Law Offices Of R.J.Atkinson for a free bankruptcy evaluation to see how we can help you deal with your debt in bankruptcy. We may be able to help you file for Chapter 7 Bankruptcy as well as discuss your bankruptcy alternatives if Chapter 7 is not for you. Our Texas Bankruptcy Law Firm welcomes the opportunity to discuss your debt relief options.

About Chapter 7 Bankruptcy - Contact Bankruptcy Attorney R.J.Atkinson

Call the Texas Bankruptcy Lawyers at: 800-436-9056

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RJA Bankruptcy Attorney offer Affordable Bankruptcy, Debt Relief and Debt Consolidation. Texas Bankruptcy Lawyer offer Low Cost Bankruptcy Attorney Fees in Austin, Dallas, Fort Worth, Plano, San Antonio, & Houston *Principal Office.

Bankruptcy Lawyer / Attorney RJ Atkinson provides Chapter 7, 11, 12, 13, Bankruptcy, Debt Relief & Discount Legal Services
Filing Bankruptcy can sometimes be the fastest way to get out of debt and may be the most affordable way to get a fresh financial start. Chapter 7 Bankruptcy can quickly wipe out your debts, increase your credit score, stop wage garnishments, get rid of credit card debt, eliminate medical bills, stop payday loans, stop bill collectors, erase negative credit reporting, and reestablish new credit after bankruptcy. RJ Atkinson – Bankruptcy Lawyer have payment plans to make filing Chapter 7 and Chapter 13 Bankruptcy affordable which include low cost flat fees for Chapter 7 that may be considered the cheapest bankruptcy attorney fees depending on the costs other bankruptcy lawyer charge. Chapter 13 Bankruptcy can save your home from foreclosure, save your car from repossession, lower monthly payments, reduce interest rates, get rid of late fees, reduce credit card interest, payoff high credit card debt, raise your credit score, stop creditor harassment, get rid of debt, reduce debt, eliminate creditor calls at work, stop collection calls, start over financially, discharge debts and/or be debt free in 3 to 5 years. IRS tax problems, tax levies, wage garnishments, back taxes, payroll taxes, income taxes can often be handled in Chapter 13 bankruptcy. Divorce/Bankruptcy – past due child support arrears, alimony, spousal support, and divorce debt can often be handled in chapter 13 bankruptcy. The Law Offices of RJ Atkinson handles debt consolidation, loan modifications, credit card debt settlement, debt negotiation, lawsuit defense, IRS problems, credit card lawsuits, TROs temporary restraining orders to foreclosure, forbearance agreements to foreclosure, FDCPA Fair Debt Collection Practices Act lawsuits, FCRA Fair Credit Reporting Act lawsuits, credit report disputes, debt collection lawsuits, adversary complaints in bankruptcy, bankruptcies, foreclosure workouts, mortgage short sales, real estate property tax disputes, civil litigation, commercial litigation, tax lawsuits, small business bankruptcy, corporate bankruptcy, business creditor representation, and most every kind of debt related issue or financially based legal problem on a case by case basis.
Pursuant to 11 U.S.C. §528, “We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”