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Texas Bankruptcy Lawyers and Foreclosure Attorneys

Bankruptcy serves as a financial outlet for many individuals who got behind on their debts and can’t find a way to repay the debt they have accrued. In many forms of bankruptcy, a debtor isn’t exactly relieved from having to pay back all the money owed, rather, they are provided with repayment plans that can help satisfy their debts under different terms. Other options also allow a debtor to become financially free from having to pay back what was owed. If you wish to learn more about the different options you have when it comes to filing for bankruptcy or you have some questions you are seeking answers to, our Texas bankruptcy lawyers will be more than happy to assist you.

If you are considering filing for bankruptcy, there are a few things you need to be aware of. For instance, there are debts that can be discharged and those that are considered non-dischargeable debts.

  • “A discharge in bankruptcy releases the debtor from personal liability for certain specific types of debt” according to the U.S. Courts.
  • A non-dischargeable debt means you are still financially responsible for this debt and will still be required to pay back what is owed, regardless of the fact that you filed for bankruptcy. There are certain debts that are non-dischargeable if you file a Chapter 7 or Chapter 13 bankruptcy in the state of Texas.

Some examples of non-dischargeable debts that won’t be included in the terms of your bankruptcy agreement include:

  • Domestic support obligations such as child support, alimony, etc.
  • Tax debts
  • Student loan debt
  • Pension obligations
  • Any fines and/or penalties you have incurred for violating the law.

There may be other non-dischargeable debts that you might be obligated to pay so it is advisable that you schedule your free consultation with one of our top Texas bankruptcy lawyers who can further explain what these debts might be.

 

Can a Creditor Challenge Me During Bankruptcy?

Something else that might arise that could become a potential issue when filing for bankruptcy is that a creditor might challenge you. This means they are still going to pursue you for the money you owe and these debts could become non-dischargeable. For example, if you made a credit purchase within 60 days of filing for bankruptcy, that creditor might feel you should still be required to fulfill the amount spent, especially if it was used on luxury goods.

There are many other reasons why a creditor might challenge your request to have your debts discharged when filing for bankruptcy and our bankruptcy attorneys in Texas would be more than happy to review these reasons with you.

It is important that you make informed decision when it comes to filing for bankruptcy. There are pros and cons to this and it is vital you are aware of what they are. So, if you are considering filing a Chapter 7, 11, or even 13 bankruptcy in the state of Texas, schedule your free consultation with one of our featured bankruptcy lawyers before making any decisions.  There are other alternatives to filing for bankruptcy and our lawyers can present these options to you along with other pertinent information you are going to want to know.

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