Filing for bankruptcy can be a confusing process. Many people struggle financially, and when the debt becomes overwhelming, they’re unsure of how to go about getting out of debt. Filing for bankruptcy can erase debt and provide a fresh start.

Incredibly, some people ask about filing for bankruptcy without a lawyer. Anyone can file for bankruptcy without an attorney, but it’s an incredibly complicated process, and we’d never suggest any such attempt.

Please – if you have questions about filing for bankruptcy or would like to know why you really need to have an experienced lawyer in your corner, call us for a free consultation at 214-760-7777.

(more…)

Why do most people file for bankruptcy? To wipe out their debts. Bad things happen to honest, hard working people, and bankruptcy can be just what’s needed to get a fresh start.

Obviously, it’s an unfamiliar process to most people. We’ll often get nervous phone calls from clients after they Chapter 7 cases have been filed because they haven’t heard anything about their discharge.

It’s important to remember the standard case timelines and time limits set down by the law. A “meeting of creditors” usually takes place about a month after the bankruptcy case is filed. After the meeting happens, the creditors and bankruptcy trustees have 60 days to object to the discharge. Add that all together, and you’re looking at about three months until the discharge occurs. Typically, a Chapter 7 bankruptcy case in Dallas takes about 4 months.

(more…)

The question we hear the most from our clients is always “Am I eligible for Chapter 7 bankruptcy?”

For Chapter 7 bankruptcy, the answer is usually fairly easy to determine. The bankruptcy “means test” is used to determine whether your income is low enough for you to file Chapter 7 bankruptcy. It’s a simple formula designed to keep filers with higher incomes from filing for Chapter 7 bankruptcy. If your income level is too high, you won’t be allowed to wipe out your debts with Chapter 7, but you’ll be able to use Chapter 13 bankruptcy to repay a portion of your debts.

Don’t be discouraged though – you don’t have to be penniless or even have a low level of income to qualify through the Chapter 7 means test. If you have a lot of expenses, such as a high mortgage payment, you can have a significant monthly income and still qualify for Chapter 7 bankruptcy. (more…)