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Common Concerns & Questions About Bankruptcy

How can Chapter 7 help Texas debtors?

| Dec 5, 2014 | Chapter 7 |

There are many reasons why Texas residents may encounter hard times financially. Medical bills, the costs associated with the loss of a loved one, credit card debt, and many other causes can bring financial ruin to individuals and families. Those who may have found themselves buried in debt may want to consider filing for bankruptcy. Chapter 7 of the bankruptcy code has certain unique advantages, and when a debtor has qualified for Chapter 7 through a means test, several doors may open up, which can help an individual with the heavy burden of debt.

Chapter 7 bankruptcy may release debtors from all legal liabilities regarding certain debts. Chapter 7 is often referred to as liquidation bankruptcy, because a person’s assets are sold in an effort to help pay off debt. Some may worry about losing their homes, vehicles and other important items after filing for Chapter 7 bankruptcy, but this is not always the case. A bankruptcy attorney can provide more information about one can protect his or her assets.

At the Law Office of Gordon Mosley, our attorneys have almost 20 years of experience in bankruptcy law. We understand that making the decision to file for bankruptcy was not an easy one, and we can help our clients evaluate their situation and guide them through the Chapter 7 process upon qualification.

For those who have made the decision to file bankruptcy, they do not have to go through the process alone. The attorneys at the Law Office of Gordon Mosley are available to support their clients through each step of the way. Before filing for Chapter 7, however, a debtor may want to speak with one of our attorneys for sound advice. For more information, please visit our Chapter 7 Bankruptcy page.