The process of filing for bankruptcy can be tedious and overwhelming at times, but it doesn’t have to be. Contact a Houston bankruptcy attorney to begin a consultation to review your financial situation. Your bankruptcy attorney will review the details of your debts and assets to determine if you qualify for bankruptcy. Further, your attorney will help you decide whether to file for Chapter 7 or Chapter 13 bankruptcy.
The Basics Of Bankruptcy
Bankruptcy is an active process that requires your participation throughout in order to be successful, which is why having a qualified bankruptcy attorney on your side can make the process much easier. Texas bankruptcy laws require anyone considering a Chapter 7case to complete a means test. This test is used to determine if your income level is sufficiently low enough to qualify for Chapter 7 protection. If your income is deemed greater than the median income level of the state, you will not be eligible for Chapter 7, but may file for Chapter 13 instead.
Bankruptcy laws also requires anyone seeking bankruptcy help to complete a credit counseling course before their debts can be discharged. The course is 90 minutes long and covers the topics of smart money management, the importance of budgeting and how to use credit wisely. Your bankruptcy attorney can provide the resources you need to find and attend the required course.
Many people ask about the filing fees associated with bankruptcy. The court charges $274 for a Chapter 7 filing and $189 for a Chapter 13 filing. While your Houston bankruptcy attorney charges fees for their services, they are aware of your financial situation and work with clients to find an affordable payment plan.