Personal bankruptcy cases in Texas have risen at an exponential rate in the recent years. The primary reason for this phenomenal rise in bankruptcy cases is ever-increasing consumer debt. The nightmare of dealing with bankruptcy is known only to individuals who have suffered, or are suffering through it. It becomes particularly complicated when a debtor has a family to raise.
The experienced attorneys at the Law Office of Gordon Mosley are very capable of explaining the bankruptcy process to their clients when complex issues such as community property appear in bankruptcy cases. Questions may arise whether both spouses need to file for bankruptcy together, what assets and debts will be considered in the bankruptcy and what debts may be discharged.
In Texas, if a married person files for bankruptcy separately, their individual assets and debts will be taken into account along with half of the marital assets and debts. In case both spouses file for bankruptcy jointly, all assets and debts will be taken into account. The lawyers at the Law Office of Gordon Mosley may assist married couples to make informed decisions, such as whether to file for bankruptcy jointly or separately. Our firm’s attorneys can provide a detailed understanding about the effects of filing for bankruptcy on eviction, foreclosure and repossession.
Heavy debts may be owed due to a massive bank loan, colossal credit card debt or other debts, which may ultimately lead to bankruptcy. However, losing heart and crumbling under pressure is not always acceptable behavior in such a situation. In addition to bankruptcy, solutions are available under Texas state insolvency laws which may alleviate multiple issues at hand. Even though filing for bankruptcy is considered to be the final option, it offers bright solutions to individuals suffering under the weight of heavy debts.
The Law Office of Gordon Mosley has expert and knowledgeable bankruptcy attorneys with considerable experience in the field and a thorough understanding of every issue related to bankruptcy. The lawyers are specialized to offer optimal solutions to married couples with the sole objective of the best possible outcomes for their clients.