Find Peace of Mind With a Personal Bankruptcy Lawyer in Plano TX

Personal Bankruptcy Lawyer Plano TXFinancial crisis can seem like the end of the world, but they don’t have to be. With some smart decisions aided by the direction and experience of a personal bankruptcy lawyer from Plano TX, you can watch yourself gain new hope for the future, and climb out of a seemingly bottomless pit of financial burden.

The first thing to know is that bankruptcy is not the end of your financial life, but it is actually the start of a new financial life. At some point, when your debt burden feels too heavy and you can’t find out how to make ends meet, you may come to conclusion that there is no way to break even. You’ll either have to continue dealing with debt collectors and guilt as you struggle to scrounge up minimum payments for the rest of your life, or you’ll file for bankruptcy and break free from the endless cycle.

A chapter 7 bankruptcy is the cleanest break[- possible. All of your assets are taken into consideration, including cars or property that you may have put down as collateral or count as a liquid asset, and these are distributed out to your debtors as a final payment. Your credit report then gets the bankruptcy notice that will be visible to all other debtors you encounter for the next ten years. You may be afraid of this notice, thinking that no debtor will ever trust you again, but it isn’t true. Some people with even very recent bankruptcies can find excellent loan partners.

Chapter 13 bankruptcies, on the other hand, are not as clean, but can still be a life saver. For the 3-5 years following a chapter 13 you will spend your time paying off as much of the debts you owe as possible, while retaining some property rights, before the court orders your debt collectors to cease and desist. For those who still have reliable income, this may be the better option than a chapter 7, but it requires a longer time period to accomplish, and a closer relationship with your personal bankruptcy lawyer in Plano TX.

The important thing to remember is that you can get help from a crushing load of debt. But you’ll never know what is possible until you speak with a personal bankruptcy lawyer from Plano TX, like those from Collins & Arnove. Let us help you reclaim your life.

Collins & Arnove | Personal Bankruptcy Lawyer Plano TX | 972-516-4255