Understanding the Benefits of Bankruptcy
When individuals and families come to Huebner Law Firm, PC, the first thing they want to know is how bankruptcy can help them resolve their financial concerns. Despite the negative stigma, bankruptcy is an extremely beneficial means to finding relief from debt, as it can help you with a number of financial matters.
- Some of the most powerful ways a bankruptcy can help you include:
- Resolving child support
- Fighting foreclosure
- Halting creditor harassment
- Stopping wage garnishments
- Fighting lawsuits
- Helping resolve past due taxes
- Discharging debt on payday loans
To learn more about the various benefits of filing for bankruptcy, contact Huebner Law Firm, PC at (817) 576-1889 to request your free consultation.
- Drowning in debt
- Feeling stressed because of your finances
- Being harassed by creditors
Why should I file for bankruptcy
There are a number of benefits to bankruptcy, including avoiding foreclosure and putting an end to creditor harassment. Filing can also help resolve issues concerning repossession, past-due taxes, child support payments, and wage garnishments. If you’ve been sued because of a debt, filing for bankruptcy can also help you fight the lawsuit. I can help you understand what filing can mean for you and your family.
Will I lose all of my property
You might be surprised to hear that individuals who file for bankruptcy often lose little to nothing. Every case is different and the amount that you might have to forfeit depends upon a number of unique and complex factors. However, our firm is proud of our success in helping clients retain those assets that are important to them.
Can all debts be discharged
Most debts can be discharged in a bankruptcy, but not all. Some debts—such as most taxes, child support and alimony payments, and student loans—are nondischargeable, meaning they cannot be eliminated altogether. Fortunately, for these debts, it is possible to reschedule or re-organize your payments to be more manageable.
How does bankruptcy work
Bankruptcy can work in one of two ways. First, by filing for a form of bankruptcy referred to as Chapter 7, you can eliminate all dischargeable debt, including credit cards, car loans, mortgages, medical bills and more. Second, you can file a form of bankruptcy known as Chapter 13, which works to re-organize your debts to give you a longer period of time to pay them off. Chapter 13 is preferable to individuals dealing with nondischargeable debts, do not qualify for Chapter 7, or have high-value assets that they wish to protect.
Why do I need a lawyer
You could certainly file for bankruptcy on your own, but it’s not recommended. You’re already anxious enough without the added complexities of navigating the legal process. Having a lawyer handle your case takes the responsibility off of your shoulders and ensures that every detail will be handled correctly and on time. Not sure you can afford an attorney? Huebner Law Firm, PC offers flexible payments plans to help with your bankruptcy case. Get in touch to learn more.
When will I see results
The timeline for bankruptcy can vary on a case-by-case basis. In general, bankruptcy cases are completed between three to six months, depending on a variety of factors. As your attorney, it is my job to make sure the process is completed efficiently and to fight for your rights every step of the way. Speeding can lead to costly mistakes.