If you think bankruptcy will serve your best interest, the first step is to speak to a bankruptcy attorney. Mistakes could cost you your property or thousands of dollars needlessly.
When you start in the process, you will want to speak to a bankruptcy attorney who has experience handling cases like yours, and the cases were successfully concluded. Your attorney will help you determine the best chapter of bankruptcy to file.
When evaluating if Chapter 7 or Chapter 13 will suit you best, your attorney will look at your :
- Assets and liabilities
- The amount of debt you owe and to whom
- How late you are your payments
- If most of your debt is secured or unsecured,
- Where you live
- If you owe back taxes
- Child support or alimony
- If you have any co-signers
Chapter 7 or Chapter 13 Bankruptcy
If you have a home that you were trying to protect, your attorney may suggest filing Chapter 13 bankruptcy and help you form a repayment plan to submit to the court. If most of your debt is credit card, medical bills, payday loans, are other unsecured debt, your attorney may suggest filing Chapter 7 bankruptcy to eliminate all of your qualifying debt.
You may consider that you can save money by handling the bankruptcy yourself. To have a chance at a successful conclusion, you will need to spend hours researching the bankruptcy laws, the laws in your state, and any recent rulings that may help you eliminate your debt. That time you spend could be better served at your job, making money to pay a professional who already knows the laws.
If you are considering bankruptcy, contact an experienced Fort Worth bankruptcy lawyer to get you the most financial relief possible.