The term "Chapter 7 bankruptcy" might be vaguely familiar to people in Texas as a potential way to deal with out of control debt. Some will mistakenly see it as a negative. Others might not know the entire scope of how beneficial it can be to someone who needs a fresh financial start. Two issues within filing for Chapter 7 that must be fully understood and might assuage certain fears that people might have are the primary purposes of Chapter 7 for individuals and what will have to be paid out of pocket at the time of the filing.
A lawyer can help to stop foreclosure in Texas
For Texans who are saddled with unpaid bills due to unemployment or some other personal circumstance, one of the biggest concerns they will have is whether or not their home will be foreclosed upon. Given the uncertain economy throughout the country, a vast number of people have been confronted with the reality of foreclosure. However, it is possible to stop foreclosure with help from an attorney.
Chapter 7 for businesses pursued by energy company
When a Texan consider the idea of filing for Chapter 7, they are often under the impression that it is simply for people who are struggling with debt and would like to clear them in their personal circumstances. However, a Chapter 7 bankruptcy can also be used by a business. Chapter 7 for businesses might not be as prominent in comparison to other options, but for those who meet the criteria, it is a viable choice to move forward in their business and personal lives.
How can I deal with creditor harassment?
If you find yourself the target of a collection agency, you are likely getting a barrage of phone calls and other communications from the agency trying to collect on the debt. Even if you are behind on payments, that does not mean you have to accept the harassing treatment you are receiving. As a consumer, you have legal protections against unscrupulous debt collectors, and you need to assert your rights to end the harassment and hold the violators accountable.
Individual bankruptcy and how a discharge works
There are certain factors that a Texan who is filing for individual bankruptcy might not fully understand. This, however, does not make them any less important. One of the biggest reasons a person will file for bankruptcy is to get debt relief and address financial challenges. With that in mind, the debtor needs to understand various aspects of the bankruptcy discharge and how it works.
