Dallas Bankruptcy Attorney
Choose Allen Stewart, PC as Your Dallas Bankruptcy Lawyer
Allen Stewart, PC helps people in the midst of financial crisis get from seemingly the worst days to better days. Depending on a client’s situation, income, type of debt, and the type of relief needed, our firm can file bankruptcies under Chapter 7, 13, and 11.
Since bankruptcy is just one of the tools a client may need, we offer other financial distress services including: negotiations with creditors; reaching settlement with the IRS; addressing ongoing lawsuits, garnishment, or monetary judgements; recovering from a medical issue or the loss of a loved one; dealing with being behind on your home or car; business failure or a job loss.
We have experience assessing each client’s unique needs and tailoring solutions for his/her financial situation to resolve their issues and relieve stress. By reaching out to us, you’re taking the first step to getting your financial life back on track and finding a clear path to the future.
Many people simply don’t realize how common their problem is, or what rights are available to them. One in five Americans will file bankruptcy at least once in their lifetime. By retaining counsel and filing for bankruptcy, we can stop creditors from harassing you and give you time to breathe and find your financial footing again. Your first call starts with a discussion and investigation into the challenges you face, and that first call is entirely free.
Our Dallas bankruptcy lawyers offer different solutions depending on your particular circumstances. Potential clients take a “means test,” mandated by national bankruptcy law to determine if they qualify for Chapter 7 bankruptcy. Texas bankruptcy law compares the application’s income to the state’s median income by averaging their monthly income from the past six months and multiplying that result by 12.
For example, a household with two members must make less than $63,148 to qualify for Chapter 7 bankruptcy, while a single person must make less than $47,238.
Those who earn too much to file Chapter 7 bankruptcy can file Chapter 13 bankruptcy under state law. Chapter 13 bankruptcy filings are for clients who can still afford to pay their debts, but not as quickly as demanded by their creditors. Chapter 13 bundles a client’s debts together so they make a single monthly payment to a bankruptcy trustee. That trustee then distributes that money to various creditors. However, while bankruptcy filings suspend foreclosure proceedings in progress, they still must make their mortgage payments as normal.
Numerous routes are available to address a client’s needs, and we can help determine the best option for your unique situation. If you are struggling financially but are questioning whether you should talk to an attorney, give us a call. We offer free consultations with a bankruptcy attorney and would love to speak with you. You deserve a local bankruptcy attorney who understands the specific challenges you face in getting your financial life back on track.
Chapter 11 bankruptcies are most open used by businesses, not private citizens. Individuals filing Chapter 11 usually have large nonexempt debts and a large amount of nonexempt property. Chapter 11 lets business continue to operate but hands control over major decisions to the court. The court decides what actions that business can take, up to and including shutting down business operations. The debtor must submit a reorganization plan to the court, which must include plans to pay off all obligations in full.
Bankruptcy isn’t the end of the world. Many of our Dallas bankruptcy clients go into debt over financially overwhelming medical bills, something many Americans never see coming and can’t avoid. Many Texas bankruptcy attorneys represent successful clients simply confronted with circumstances beyond their control, whether from unforeseen medical debt, business failures, taking care of aging family members or many other potential reasons. Bankruptcy gives debtors an opportunity to start over fresh, a clean slate upon which to write their new financial future.
For more information on bankruptcy, click the links below: