People who have a very large debt load could consider the legal route to solve the problem. Information from an experienced Houston bankruptcy attorney is the best way of finding out exactly what you can do. It is very possible that there will be a solution for you.
For those facing foreclosure or repossession but who can pay eventually, chapter 13 would probably be optimum. Here you should be able to show exactly how you realistically intend to pay the debts off. Your income would have to be adequate to cover your living expenses as well.
If you just cannot afford to pay the debts because your income is inadequate, you might look to Chapter 7 for relief. If successful, some of your debts will be discharged, but others will continue. You will still be much better off than before you went bankrupt.
If you have a business or very large debts, the Chapter 11 provisions might be best, as it would allow you to reorganize your debts. You would still owe the money, but more reasonable arrangements could be made for payment. Most private individuals use Chapter 7 or 13 filings.
Some property will be exempted from sale, while a chapter 7 filing could also still leave you with certain debts. Your lawyer should be able to confirm whether it is advisable for you to go bankrupt, and which type would be best. All your circumstances need to be considered.
Having been declared bankrupt will not prejudice you with your employer, and you might still be able to get a a loan. Even your credit cards might not necessarily be taken away. A premier lawyer will show you how to come out of the situation as best possible.
For those in financial difficulties, consulting a Houston bankruptcy attorney could be a great option. By contacting a great lawyer right away, you could get quick relief. You will be able to find out if going bankrupt is the best route for you.
For those facing foreclosure or repossession but who can pay eventually, chapter 13 would probably be optimum. Here you should be able to show exactly how you realistically intend to pay the debts off. Your income would have to be adequate to cover your living expenses as well.
If you just cannot afford to pay the debts because your income is inadequate, you might look to Chapter 7 for relief. If successful, some of your debts will be discharged, but others will continue. You will still be much better off than before you went bankrupt.
If you have a business or very large debts, the Chapter 11 provisions might be best, as it would allow you to reorganize your debts. You would still owe the money, but more reasonable arrangements could be made for payment. Most private individuals use Chapter 7 or 13 filings.
Some property will be exempted from sale, while a chapter 7 filing could also still leave you with certain debts. Your lawyer should be able to confirm whether it is advisable for you to go bankrupt, and which type would be best. All your circumstances need to be considered.
Having been declared bankrupt will not prejudice you with your employer, and you might still be able to get a a loan. Even your credit cards might not necessarily be taken away. A premier lawyer will show you how to come out of the situation as best possible.
For those in financial difficulties, consulting a Houston bankruptcy attorney could be a great option. By contacting a great lawyer right away, you could get quick relief. You will be able to find out if going bankrupt is the best route for you.
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If you need a qualified Houston Bankruptcy attorney, click here now. To schedule a free consultation with the Law Offices of O. Miller White, come to the homepage at http://www.thehoustonbankruptcylawyer.com for details.
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