Houston Chapter 7 Bankruptcy Attorneys Outline Options for Your Future
Liquidation lawyers in Texas helping families take back control of their lives
Filing for Chapter 7 bankruptcy, also referred to as straight bankruptcy, allows the courts to liquidate your assets. Almost all of your debts are eliminated, while some of your personal property is sold to pay back your creditors. At the Law Office of David A. Fernandez, P.C., our Chapter 7 bankruptcy lawyers in Houston assist you throughout the process. We handle the documentation needed for the court while offering you a friendly shoulder to lean on when you feel emotionally drained.
Benefits of Chapter 7 bankruptcy
Bankruptcy proceedings are regulated by federal law. Your unsecured debt is virtually eliminated. Unsecured debt, or debt that is not backed by collateral, commonly includes:
- Credit cards
- Store charge cards
- Medical bills
- Personal loans
One of the more compelling reasons for filing for Chapter 7 bankruptcy proceedings is the automatic stay. The stay puts an immediate end to creditor calls and collection practices, such as wage garnishment or mortgage liens. The most important part of the stay, however, is that it affords you some breathing room while we consider which steps you should take next.
Bankruptcy is an essential tool in credit negotiations. Collections agents who resisted all forms of negotiations become more willing to strike a deal when they realize they could potentially end up with nothing. Our Houston consumer law attorneys handle the complexities of debt negotiation by dealing directly with your creditors, freeing you to focus on the rest of your life.
Important additional information about filing Chapter 7
At the Law Office of David A. Fernandez, P.C., our Houston liquidation lawyers provide you with direct, candid advice about bankruptcy. We ensure that our clients understand the federal laws that regulate the process. We want you to be well informed about the potential risks as well as the benefits. We also want you to understand:
- The process. Our attorneys have years of experience helping people file for bankruptcy, but they understand that this may be your first time filing. We explain the process of filing for bankruptcy so that you clearly understand your role — and ours. We explain how the means test works and what assets you may lose once your bankruptcy has been approved.
- The exemptions. Every state has different exemptions. And those exemptions differ from those of the federal government. We examine which exemptions best suit your individual case and counsel you about your options.
Our Chapter 7 bankruptcy attorneys in Houston stay by your side throughout the process
The decision to declare bankruptcy is an important one. At the Law Office of David A. Fernandez, P.C., we outline your options and discuss potential outcomes for your bankruptcy claim before you begin to file. To speak with a skilled bankruptcy attorney, contact our firm by phone at (713) 893-8509 or schedule your free initial phone consultation online.