Should I Consider Bankruptcy?

Get Advice from a Knowledgeable Fort Worth Bankruptcy Lawyer

Many people consider bankruptcy at least once in their lives. At Fears | Nachawati, our Fort Worth Bankruptcy lawyers are happy to speak with people throughout the Dallas-Ft. Worth area, and answer any questions they have. We understand the stress you are going through, and want to help you make the right decision. Contact us to find out more.

If you are wondering whether bankruptcy is right for you and live in the Fort Worth area, there are several questions you should ask yourself:

Are you unable to get by each month? A Chapter 7 bankruptcy can liquidate your assets, pay off as much as you can, and then erase any further debt.

Are you earning just enough to get by every month? Can you only afford to make minimum payments, and don't see how you will ever get debts paid off? A Chapter 13 bankruptcy can put you on a payment plan and then wipe the slate clean, whether or not all debts are paid off.

Are you about to lose your house? Bankruptcy can stop foreclosure in many cases. If, for example, the government is threatening to put a lien on your house and sell it from underneath you, a bankruptcy can stop their actions. (See also Saving Your Home and Car.)

Are you significantly behind on your car payments? Bankruptcy can put you on a plan to pay off your car payments, while lowering your interest rate or lowering the amount that you owe. (See also Saving Your Home and Car.)

Are you about to be sued by a credit card company? Filing for bankruptcy immediately stops all lawsuits against you. (See also How Bankruptcy Affects Debts and Lawsuits.)

Are credit card companies and collections agencies harassing you day and night? All creditor harassment must cease after you file for bankruptcy.

Are your wages being garnished for taxes, child support, a lawsuit, or any other reason? Our bankruptcy attorneys know how to stop wage garnishments.

And there are many other complex circumstances that our Fort Worth bankruptcy lawyers can handle. For example, tax debt is often the most difficult kind of debt to discharge. But if the debt is less than 3 years old, a Chapter 13 bankruptcy could pay it off.

Another example is overwhelming medical bills. You can eliminate the medical bills you currently have with a bankruptcy and still continue treatment in the same hospital. The doctor who treated you before, however, may refuse to see you. But our lawyers often help people find other effective ways to get treatment.

The Bankruptcy Code provides real relief for individuals who have run out of financial options and can protect the debtor from creditor collection action even at the last minute. By filing an emergency bankruptcy petition a debtor can stop a foreclosure or other legal action dead in its tracks.

When a debtor files a bankruptcy case all creditor collection action must cease immediately and automatically. The bankruptcy automatic stay stops foreclosures, repossessions, garnishments, the commencement or continuation of nearly all lawsuits, and other creditor collection action dead in its tracks. Because the effect of the automatic stay takes place immediately upon filing of the bankruptcy petition, it is not uncommon for a debtor to seek bankruptcy protection on the eve of a foreclosure, repossession, or other legal action. A bankruptcy filing mere minutes before a foreclosure sale or lawsuit will stop the action or void the sale or judgment.

Waiting until the eleventh hour to seek out a Fort Worth bankruptcy attorney can be dangerous for the bankruptcy debtor. First, the Bankruptcy Code mandates that to be eligible to file a personal bankruptcy in Fort Worth the debtor must first complete a session with an approved credit counseling agency. It is challenging to have an initial meeting with a Fort Worth bankruptcy attorney and complete this counseling on the same day you file bankruptcy. The Fort Worth bankruptcy courts waive this requirement only under the most extreme emergency situations when credit counseling was not available to the debtor. While it may seem that your case is an emergency situation, chances are that a waiver request will be denied.

Second, your Fort Worth bankruptcy attorney must explore your finances with you and will require information that you may not be able to provide at the initial meeting. Your attorney needs information in order to protect your assets with legal exemptions and identify potential problems with property transfers. Certain financial dealings may unknowingly thrust friends, family members, or business partners into your bankruptcy case.

Filing an emergency bankruptcy petition in Fort Worth can stop creditors in their tracks, but it can also present potential problems for the debtor. If you are considering a bankruptcy filing to protect your property, consult with an experienced Fort Worth attorney as early in the process as possible. Your Fort Worth bankruptcy lawyer can explain how the federal bankruptcy laws can help your family and identify any areas of concern.

Contact Us

Contact us to have your situation evaluated by an experienced Fort Worth bankruptcy lawyer. At Fears | Nachawati, our Fort Worth lawyers maintain office hours 7 days a week and can meet with you in evenings or weekends. Flexible payment plans are available.

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We are a Fort Worth debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.