Tioga Texas Chapter 7 Bankruptcy Lawyers – File Bankruptcy or Avoid It
When filing bankruptcy in Tioga, TX, you have OPTIONS and RIGHTS with your car. Contact the Law Office of Veronica Deaver, and We will help! Chapter 7 or 13, Attorneys are Designed to Help You Keep or Replace Your Vehicle. 20+ Years in Business. BBB A+ Rating. Types: Keep Your Car, Pay Only What It Is Worth, Replace Your Car. CALL 214-282-5024 THE LAW OFFICE OF VERONICA DEAVER TODAY TO BOOK A FREE CONSULTATION!
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When debt slavery becomes more than you can handle, a North Texas bankruptcy attorney is the answer.
Partnering with a Chapter 7 bankruptcy lawyer in Tioga is the best way to ensure that your filing process goes smoothly. We can help you Prepare Your Chapter 7 and 13 bankruptcy with Prompt Timing. Superior Quality. Great Customer Support. Good Customer Service. Good Quality. No Hidden Fees. Providing Customer Service. Contact a Chapter 7 bankruptcy lawyer nearby Tioga today.
What is Chapter 7 Bankruptcy?
Everyone has BILLS and invoices to pay. Sometimes you might be late on a mortgage payment or miss a car payment entirely. It isn’t good for your credit rating, but in the current state of the US economy, many people are struggling and have to “rob Peter to pay Paul.” If this is you, you most likely don’t need to think about filing chapter 7 or 13 bankruptcy in Tioga, maybe not quite yet.
Chapter 7: Tioga Fort Worth Bankruptcy Lawyer
Filing for bankruptcy Chapter 7 is called “Liquidation”. It may sound confusing, but consider it this way: ever heard the term “money stream”? Money can stream from 1 person to another quickly, just like water flows down a Texas river. In a Chapter 7 Bankruptcy Tioga, your Texas bankruptcy trustee will turn certain kinds of your home into money (or “liquidate”), and that cash will then flow into your creditors to repay your debts. To be able to be eligible for Chapter 7, you need to pass the means test. You can request more information on what a means test is and how it operates.
Timeline: How long is that going to take?
The bankruptcy starts when you (and your attorney) in Tioga document for bankruptcy with the Courts. You are no longer in default when you receive a discharge. In most Chapter 7 cases for Tioga, all of the borrower’s property is exempt, so the trustee will have no assets to distribute and liquidate to creditors. Issues, where there are no assets to distribute to lenders are closed relatively quickly, sometimes as little as a couple of months. Even though you’ve gotten a discharge, you, with all the Court, will remain open until the judge passes and the order is closing the case. A copy of the order closing your lawsuit will be delivered to you by the Court.
The Means Test
Before contacting our North Texas bankruptcy lawyers, filing for Chapter 7 bankruptcy, you’ll have to qualify through a Chapter 7 means test for Tioga. Sounds frightening, but understand this: since the test became law in 2005, as part of Bankruptcy in Tioga, more than 96% of potential Chapter 7 filers still qualify. Another good news is if you don’t qualify for a Chapter 7 filing, you may always be eligible to file under Chapter 13. The Means Test includes two steps :
Step 1: Median household Income
Your monthly income compared to the median income for a Texas household the same size as yours. “Median” is another way of stating “center”, as the median in the middle of a highway. If most of the Texas households that were the same size as you had been lined up by how much cash each family makes per month, the median monthly income would be the household in the center of the line marks. If you earn the same or less money than that household in Tioga in the middle of the line, you are eligible for a Chapter 7 bankruptcy in Tioga — no Step 2 for you.
Step 2: Disposable Income Ranked
If your income that’s considered disposable over the next five years is: under $6,000 ($100/month) — You Pass MORE than $6,000 but less than $10,000 — You Might Have Passed (based upon your allowed expenses) MORE than $10,000 –!
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BOOK A FREE CONSULTATION!
Every person’s situation is different. The best way to work out if Chapter 7 is best for you is to speak with a local bankruptcy attorney. We’ll be happy to assist you in assessing your financial situation and discussing your legal rights and choices. Just for a Fast reference, Chapter 7 may be an option for you personally: Have (no assets) or a few assets outside your furniture, clothing, and other necessities.
Credit Counseling Before You Document
Before you declare bankruptcy, you need to receive a Credit Counseling Briefing out of a certified TX when you reside in Tioga, Texas. Credit counseling bureau applies whether you’re filing under Chapter 7 bankruptcy in Tioga or 13. At your credit counseling meetings, you will learn how to do the budget and financial management and discuss your counselor’s alternatives to filing bankruptcy in Tioga.
Credit counseling is expected by federal law (with hardly any exceptions). Then your bankruptcy legal case for Tioga or Tioga may be dismissed if you do not attend a counseling briefing. Your Texas bankruptcy lawyer in Tioga, TX, can suggest a credit counseling service for you.
Do ALL of my debts have to be disclosed once I file for Chapter 7?
YES! Bankruptcy Fraud in Tioga is a severe federal crime for which you may face prosecution.
The Process of Filing:
Step 1 — Complete your credit counseling sessions.
Step 2 — Provide All the Essential information for your local Tioga Chapter 7 bankruptcy Lawyers,
Measure 3 — Your chapter 7 bankruptcy lawyers near you in Tioga can review your situation and prepare a bankruptcy petition. You will have to record personal information, such as All of your earnings, assets, costs, debts, and any relevant exemptions to which you are entitled.
Step 4 — Your Lawyers file the petition in local bankruptcy court.
Step 5 — The Court will appoint a bankruptcy trustee for your chapter 7 bankruptcy case in Tioga. After filing bankruptcy, in Northern Texas, an “Automatic Stay” is entered in most instances to prevent creditors from taking any additional action against you out of bankruptcy courts.
The Automatic Stay — Access Security from Your Creditors
If you file for bankruptcy in Texas and live near Tioga, the first thing that happens is the “automatic stay”. This is an invisible wall up between you and your creditors so that they can’t bug you or contact you anymore. The Court in TX or the bankruptcy trustee mails a note to all the creditors you have listed, letting them know you have filed for bankruptcy is just another excellent reason to completely disclose all your creditors and debts. Should a creditor continue to call you — tell them they need to speak to your bankruptcy lawyer. If you have some ongoing lawsuits or wage garnishments; Make sure to tell your bankruptcy attorney for Tioga so that he or she could instantly call these creditors.
Learn How You Can Get Your Bankruptcy Discharged and What To Do on Your Part
Do not conceal your property, destroy any financial records, or violate any court order, or make any final minute high-dollar charges on your credit cards until you record. ALWAYS hear the advice of your Tioga lawyer!
Tools of the trade involving boats and motor vehicles. Clothing. Jewelry around $7,500.00 ($15,000.00 for a family). Two firearms. Athletic and Sporting equipment (including bikes ). One for each licensed driver in Tioga and individual, Texas state Motor vehicles must rely on a certified driver for transportation.
Certain livestock. Household pets. Value of any Life Insurance Policy. Endless insurance benefits and cash value Proceeds are- paid under-compensation legislation, including unemployment, workers compensation, and crime victim benefit.
Federal Exemptions (per debtor)
$18,450 in real value personal property used as a home; Up to $2,950 in equity in any motor vehicle. Up to $475 in value in any Specific thing of home furnishings, or sporting apparel, $9,850 is the maximum. For personal use. Up to $1,225 in jewelry held Up to $1,850 in tools of this trade. Any unmatured life insurance contract You Have, except for a credit life insurance coverage. The right to received particular disability and support payments. Any property not otherwise protected in a sum not to exceed $975 and any unused amount of the $9,250 in (1) above.
While a Chapter 7 bankruptcy in Tioga, TX, may help eliminate unsecured debts, secured debts are generally not separated from the resources that guarantee them. Meaning that if you want your vehicle loan discharged, you’ll have to return the car. However, suppose you would like to maintain your car (or a different advantage that serves as security for a debt). In that case, you could have the ability to negotiate a reaffirmation agreement with your creditors in Chapter 7 bankruptcy. By reaffirming a debt, then you consent to continue making payments in exchange for the right to keep your premises.
The Final Step
Before obtaining your bankruptcy discharge, you must complete a licensed Education Debtor: Course a management course of personal financials required by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Obtaining a Debtor Education course after filing bankruptcy is somewhat like taking Defensive Driving following a speeding ticket. The objective is to educate you on avoiding mistakes that got you in trouble and how to do things better the next time. Your local bankruptcy lawyer in Tioga can refer you to a licensed financial management class in your local area.
Talking to an Attorney Near You in Tioga
The decision to file for bankruptcy in Tioga is never an easy one. We highly advise that you seek a local bankruptcy lawyer’s advice before choosing to file. Your lawyer will want you to be honest and candid, and he or she should do the same for you. Whenever you’re prepared to talk to an attorney, The Law Offices of Veronica Deaver is here for help today.
Zipcodes we serve:
76233 75489 75414 75020 7502175090 75091 7509275009 75071 75078 7622775078 75071 7509875409 75485.a
Mrs. Deaver is a very professional bankruptcy attorney/ lawyer near Tioga, who answered all my questions and eased my concerns. She was very sympathetic and took the time to help me and make me feel better. I don’t think or believe you could find a better attorney.
I used Ms. Deaver to “start over” by filing chapter 7, and it was the best thing I did. Ms. Deaver made the process seamless I filed, Court 30 days later and was discharged 60 days after. I have rebuilt since then, and I owe it all to her for the fresh start.
“ Mrs. Deaver is a 1st Class Lawyer. If you need Chapter 7, she is Your lady”.