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Burleson Bankruptcy Lawyers

Burleson, TX bankruptcy and debt relief lawyer

Trusted Bankruptcy Lawyers in Tarrant County, TX

Bankruptcy is a legal option that individuals or businesses can use when they are unable to repay their debts. It provides relief for those who are overwhelmed by financial obligations and gives them an opportunity to start fresh. While the decision to file for bankruptcy may seem daunting, understanding the process and working with an experienced bankruptcy lawyer like the ones at Acker Warren P.C. can make it easier.

The Basics of Bankruptcy

Bankruptcy laws in the United States are designed to give debtors a fresh start while treating creditors fairly. There are different types of bankruptcy, but the two most common forms for individuals and families are:

  • Chapter 7: Also known as the 'fresh start' bankruptcy, Chapter 7 allows debtors to eliminate most of their unsecured debts, which may include credit card bills or medical expenses. In this type of bankruptcy, a trustee appointed by the court gathers and sells non-exempt assets to pay off creditors. However, in the vast majority of cases, people who file for Chapter 7 do not have any non-exempt assets, and they will be able to keep most or all of the property they own. A qualified attorney can help you protect your assets as you seek debt relief through Chapter 7.
  • Chapter 13: Unlike Chapter 7, Chapter 13 involves the establishment of a repayment plan based on your income and expenses. If you choose this type of bankruptcy, you will be able to keep all of your property while making monthly payments for three to five years. At the end of this period, remaining eligible debts may be discharged.

Benefits of Filing for Bankruptcy

When you file a petition for bankruptcy, this will trigger an automatic stay, which halts all collection efforts from creditors. Phone calls, lawsuits, or wage garnishments must cease immediately upon filing your petition with the court. Any foreclosure proceedings or repossessions will also be put to a halt. This provides immediate relief from harassment by creditors, allowing you time to get back on the right financial track without interruptions.

Bankruptcy will also give you the tools to regain control of your finances by eliminating certain types of debt and potentially catching up on other debts that have gone unpaid. With Chapter 7, you will be able to discharge most debts fairly quickly. If you opt for Chapter 13, you may take steps to become current on certain loans, such as a home mortgage, by using your disposable income to make ongoing payments during a three-to-five year repayment plan. Once the bankruptcy process is complete, you will be able to move forward into a better financial future.

Why Choose Acker Warren P.C. Bankruptcy Lawyers?

At Acker Warren P.C., our attorneys have extensive experience helping clients navigate the complexities of bankruptcy cases. We provide our clients with:

  • Experience and knowledge - Our team understands the intricacies of federal laws and the local court procedures followed when people file for bankruptcy. We stay up-to-date with changes in the laws to ensure that we can always provide our clients with accurate advice.
  • Tailored solutions - We believe that every client is unique, so we take the time to listen to your specific financial issues and goals before creating a personalized strategy that will meet your needs.
  • Timely completion of bankruptcy cases - We understand that going through a lengthy legal process can be stressful and burdensome. That is why we are committed to handling each case efficiently, ensuring timely completion without compromising quality or attention to detail.

Beyond Bankruptcy: A Fresh Start for a Brighter Financial Future

Filing for bankruptcy may seem like the end of the road, but it is often the beginning of a new chapter in your financial life. While bankruptcy can harm your credit temporarily, it offers opportunities for rebuilding your credit score and regaining control over your finances. We can help you make sure you are prepared for success after bankruptcy, including:

  • Rebuild your credit score - After completing the bankruptcy process, you can start rebuilding your credit by establishing good financial habits such as making timely payments on any remaining debts or secured loans—like mortgages or car loans—and keeping balances low on any new credit accounts.
  • Educate yourself about personal finance - To avoid falling into debt again in the future, take advantage of this fresh start to learn about personal finance management strategies and develop healthy spending habits. You may want to work with financial advisors who assist with post-bankruptcy planning or enroll in educational programs that will teach budgeting skills and money management techniques.
  • Plan for the future - Achieving long-term financial stability involves setting goals and developing plans accordingly. Whether you want to save for retirement, buy a home, or fund important events like sending children to college or starting a business, you have an opportunity after bankruptcy to make strategic decisions that set you on the path toward achieving those goals.

Contact Our Burleson, TX Bankruptcy Attorneys Today

If you are considering bankruptcy or have questions about your options for debt relief, the attorneys at Acker Warren P.C. are ready to assist you. We understand that dealing with overwhelming debt can be challenging, but we believe in providing compassionate support while guiding you through every step of the process. Contact us today at 817-752-9033 to schedule a consultation and take the first steps toward reclaiming your financial stability.

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