When financial stress becomes overwhelming, finding a bankruptcy lawyer near me in McKinney, TX can feel like the only way forward. This guide explains costs, reviews, the major types of bankruptcy, and whether filing is right for you.
Top 10 Reasons to File for Bankruptcy
- Stop foreclosure on your home.
- Halt wage garnishment.
- Prevent creditor harassment.
- Discharge overwhelming credit card debt.
- Stop vehicle repossession.
- End pending lawsuits for unpaid debt.
- Rebuild financial stability with a clean slate.
- Protect essential assets under Texas exemptions.
- Gain structured repayment plans (Chapter 13).
- Restore peace of mind and reduce stress.
Top 10 Reasons NOT to File for Bankruptcy
- You only have small, manageable debt.
- Recent luxury purchases or cash advances (often not dischargeable).
- You might lose non-exempt assets.
- Filing will damage your credit score short-term.
- Certain debts (student loans, child support) aren’t eliminated.
- Bankruptcy stays on your record for 7–10 years.
- You have co-signers who could be left responsible.
- Potential difficulty obtaining new credit or housing.
- Some employers check credit history.
- Alternatives like negotiation or consolidation may be better.
Differences Between Major Types of Bankruptcy
Chapter 7 (Liquidation Bankruptcy)
Best for individuals with little income and high unsecured debt. Assets may be sold, but Texas has strong exemptions protecting your home, vehicle, and essentials.
Chapter 13 (Reorganization Bankruptcy)
Allows you to keep assets and repay debts through a court-approved plan over 3–5 years. Often used to stop foreclosure.
Chapter 11 (Business Bankruptcy)
Typically for businesses or high-net-worth individuals reorganizing debts.
Chapter 12 (Family Farmers & Fishermen)
Specialized chapter for qualifying family farmers and fishermen.
Top 10 Benefits of Hiring a Bankruptcy Lawyer in McKinney, TX
- Local experience with Texas bankruptcy exemptions.
- Accurate paperwork and deadlines.
- Negotiation with creditors.
- Court representation.
- Guidance on which chapter fits your case.
- Prevent costly filing mistakes.
- Protection from creditor harassment.
- Knowledge of Texas property laws.
- Strategic timing for filing.
- Peace of mind knowing you have an advocate.
Reviews from McKinney Clients
- ★★★★★ “Veronica Deaver and her team gave me hope when I had none. Professional, kind, and thorough.” – M.M.
- ★★★★★ “The best bankruptcy lawyer near McKinney, TX. She explained everything in plain English.” – J.R.
- ★★★★★ “Helped me save my home and rebuild my life. Forever grateful.” – T.H.
Frequently Asked Questions
How much does it cost to hire a bankruptcy lawyer in McKinney, TX?
Chapter 7 cases often range $1,200–$2,500 plus court fees. Chapter 13 is usually higher due to long-term repayment plans.
Will I lose my house if I file bankruptcy in Texas?
Texas homestead exemptions are generous. Most people keep their primary residence.
How long will bankruptcy stay on my credit report?
Chapter 7 stays up to 10 years, Chapter 13 up to 7 years.
Can I file bankruptcy without a lawyer?
Technically yes, but mistakes often cost more than attorney fees.
Which debts can’t be discharged?
Student loans (in most cases), child support, alimony, and certain taxes.
Call for Local Help
If you’re searching bankruptcy lawyer near me McKinney, TX, call Veronica Deaver at (972) 755-8994 for a confidential consultation today.
Legal Disclaimer
This article is for informational purposes only and does not constitute legal advice. Reading this page does not create an attorney-client relationship. For advice tailored to your situation, contact a licensed Texas bankruptcy attorney.
