Rising debt can be overwhelming, and the prospect of bankruptcy terrifying. Declaring bankruptcy in Plano TX is a heady thing to consider, and it comes with plenty of lasting burdens on your credit. Finding someone to help you through this important decision, or perhaps show you other options, is absolutely essential, because there are many steps involved in the bankruptcy process.
Filing for bankruptcy is not an easy task, and it will only add to your stress. On top of the debt weighing you down, you will have to navigate a bureaucratic system of rules, regulations, and forms that can easily lead you into a worse situation if you attempt it on your own. Without the right representations and assistance, you can lose far more than money.
You will need to be certain you are eligible to file, first. As of 2005, people in debt must undergo a means test. This was created to prevent people who have extra income to pay off their debts from filing Chapter 7 bankruptcy. When filing for bankruptcy in Plano TX, your income must be under $40,945, or you will have to have your income evaluated for a means test. The size of your household also influences the results of this test, particularly if you have more than one person in your household.
There are also costs to consider. These vary depending upon the region. When filing in Texas, the costs will be greater in larger areas, such as DFW. There is first the initial filing fee, which is approximately $300 dollars or more. If you cannot afford this, you can ask the court to waive it, or arrange to pay it off over time. Then, you have the attorney’s fees, and these can vary more significantly depending on the attorney and your needs. Bankruptcy cases vary in complexity, and some require much more time and work than others.
A good attorney will work with you to determine your needs and your fees. Finding the right lawyer for your case can influence how successful your filing will be. You need an attorney who will discuss all options, even those other than bankruptcy, before moving forward with the filing. The best lawyer is one who responds to all your inquiries, and is prepared with answers for those you don’t even know to ask. He or she will know all the regulations and paperwork through and through, and will make certain everything necessary is filed and reported.
There is nothing that will making filing for bankruptcy in Plano TX purely easy and stress free. However, the representatives at Collins & Arnove can help, and give you as much peace of mind as is possible. Call us at (972) 516-4255, or visit our website, www.ntb.wpmudev.host, and let us help you through this difficult time.
Collins & Arnove | Bankruptcy Plano TX | 972-516-4255