How Can You Receive Bankruptcy Assistance in Keller, Texas?

There are many reasons a person can become overwhelmed with debt. Unexpected illnesses or injuries and the loss of a job can all lead to mounting debt that can be difficult to overcome. Thankfully, attorneys can offer bankruptcy assistance in Keller, Texas. A meeting with the attorney will allow individuals to determine the right method of overcoming their debt. It is imperative a person brings in their financial records and is prepared to discuss their financial situation so the attorney can help.

The first step the attorney will take is determining whether or not the debt is secured. Secured debt includes debts like mortgages and car notes. This type of debt is better when settled with chapter 13 bankruptcy. This bankruptcy can allow a person to overcome their debt in as few as five years. The individual receives a structured payment plan that helps them make payments to pay down their debt. Chapter 13 can help prevent the loss of a home due to foreclosure.

If a person has mostly unsecured debt, they would benefit more from chapter 7 bankruptcy. This type of bankruptcy is over quickly, typically lasting only about six months. An individual must pass a mean’s test to determine if they will benefit from chapter 7 bankruptcy. Once a person has been approved for bankruptcy, a court-appointed trustee is placed over the case. They are held responsible for making sure the creditors are paid and debts are absolved. They are also in charge of liquidating any non-essential property so debts can be paid off.

Many attorneys offer free advice for bankruptcy assistance in Keller, Texas. Consulting with the attorney will allow individuals to learn more about their options so they can make a sound decision on which of the bankruptcies will be most beneficial. They will help individuals through the entire process so their debts can be properly handled.

If you are dealing with overwhelming debt, it is important you learn as much as you can. For more information, visit They will provide you with the information you need so you can be successful in overcoming your debt once and for all.

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