Benefits of Bankruptcy for Debtors
A borrower with financial problems may fall behind in meeting financial obligations to lenders. A job loss or unexpected medical expenses can send a household into a financial hardship. Every individual is different with his or her own unique circumstances that led to burdensome debts. Dallas attorney Richard Weaver works closely with clients, knowing the importance of building a trusting relationship during tough financial times. Debtors having trouble keeping up with payments to creditors should contact a Dallas bankruptcy attorney with the experience and knowledge necessary for competent representation of clients in all types of debt reduction, including bankruptcy. Our firm is a recognized member of the American Society of Tax Problem Solvers.
Discharge Debts with Bankruptcy.
Some debtors may find financial solutions through debt consolidation, debt counseling, debt settlement, or debt management. Others find that bankruptcy is the best answer to their debt problems. Chapter 7 bankruptcy allows a debtor to have a fresh start by discharging of certain personal debts. It is the fastest, least expensive and easiest type of bankruptcy. Some borrowers may not qualify for Chapter 7 because of high income earnings. Those individuals would turn to Chapter 13 bankruptcy, allowing a debtor a chance to catch up on debt payments. A bankruptcy attorney works with the client and creditors to restructure payments requiring approval from the bankruptcy courts and distribution by a trustee. Bankruptcy can benefit by discharging or negotiating the following personal debts:
- Credit cards and lines of credit
- Personal loans or promissory notes
- Lease and contract obligations
- Liens on property
- Eliminate interest on certain taxes owed
Federal and state bankruptcy laws govern the bankruptcy courts. It is important to have effective representation while negotiating with creditors to ensure the protection of rights and negotiation of the best possible terms for the debtor client. For information about the benefits of bankruptcy, make an appointment today with one of our qualified bankruptcy attorneys from the Bankruptcy Law Offices of Richard Weaver.
Contact a qualified Dallas bankruptcy attorney Bankruptcy Attorney for information regarding filing for bankruptcy protection.