Dallas Chapter 7 Bankruptcy Lawyer
Are you struggling to pay your bills each month and finding yourself falling farther and farther behind in your financial obligations? Failing to take care of these problems can lead to losing your home, car and personal property. At The Carroll Law Firm, we have over a decade of experience in helping people in the Dallas, Texas, area protect their property. To arrange for your free 30-minute consultation, please contact our office by telephone at 214-749-7777.
Texas Chapter 7 Bankruptcy Attorney
When you file a Chapter 7 bankruptcy petition, you will be taking steps that allow you to move past financial turmoil and obtain the opportunity for a fresh start. A Chapter 7 filing relieves you from having to pay for dischargeable debts, such as credit card balances, bank loans, court judgments and medical bills. However, there are certain nondischargeable debts that still must be paid. These include certain types of tax debt, most student loans, government fines, restitution for outstanding child and spousal support, and debts incurred from criminal or fraudulent behavior.
Filing a Chapter 7 bankruptcy petition will typically result in a liquidation of your nonexempt assets. The bankruptcy trustee will evaluate and sell off your nonexempt assets, with the proceeds of the sale being used to pay off creditors. You will be able to retain all property categorized as exempt. Examples of property classified as exempt by the bankruptcy laws include:
- Cash, U.S. savings bonds and tax refunds up to $2,500
- Household furniture
- All wearing apparel
- Certain appliances and household goods
- Equity in a motor vehicle up to $2,400 ($4,800 for spouses filing jointly)
- Equity in a house, condo or co-op up to $50,000 ($100,000 for spouses filing jointly)
- Most pensions and retirement plans
Recent changes in the bankruptcy laws require individuals who earn over the median income in their geographical location to go through a "means test" to see whether they qualify for Chapter 7 bankruptcy. The test is a two-step income and expense analysis that can be somewhat complicated to calculate. Our attorney will assist you in determining your eligibility for filing a Chapter 7 bankruptcy and, in the event you are not eligible, will help you evaluate other alternatives such as a Chapter 13 bankruptcy.
Let us help you through these difficult times.
Once you hire our office to represent you, we will begin working on your case immediately and will represent you through the entire Chapter 7 bankruptcy process. We inform creditors that you are represented by an attorney, and that they are required to cease all harassing phone calls and attempts to collect on outstanding debt. Bankruptcy may also stop home foreclosure actions and the repossession of property. Contact our office by phone at 214-749-7777 to arrange for your free 30-minute initial consultation.
The Carroll Law Firm
100 North Central Expressway
Suite 1006
Dallas, TX 75201
Tel: 214-749-7777
Fax: 214-749-7779
E-mail
Major Credit Cards Accepted
The Dallas family law attorney at The Carroll Law Firm is pleased to serve clients in North Texas and Central Texas, including the areas of North Dallas, Plano, Irving, Fort Worth, Collin County, Denton County, Tarrant County, Rockwall Count, and Kaufman County, as well as the communities that make up the Metroplex.Printer Friendly View
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