If you have been considering the benefits of filing for personal bankruptcy in Plano TX, it is only natural to have some questions. Is this is a good idea? How will it change my life? What will others think of me?
There is a lot that goes into filing for bankruptcy. You need to understand the ins and outs of the process, including how it will impact your financial life now and in the future.
Three Questions to Address
There is no reason to shy away from filing for personal bankruptcy in Plano TX if you realize this could benefit you in some way. It may not be the only option to consider, but it is one that could put you back on the right track in regards to your finances.
To ensure that you are on the right path, and to ensure that you are not making any mistakes along the way, here are three questions to address:
- What is the difference between Chapter 7 and Chapter 13 bankruptcy? These are not “one in the same,” so you need to understand the differences, as well as the pros and cons associated with each.
- How long will it take for the bankruptcy process to come to an end? This depends on many details, including the type of bankruptcy. Chapter 13, for example, can last as long as five years since you will use a repayment plan to repay some or all of your debt.
- How much does it cost? While there is no set answer to this question, here is what you have to consider: you can file on your own or file with the help of an attorney.
If you address these personal bankruptcy questions, you will soon have a better idea of what to do next and how the process will unwind in the days, months, and years to come.
Get Professional Help
You have the right to file for bankruptcy on your own, but this can be challenging on many levels. For example, one mistake could lead to your case being dismissed by the court. This may not be a risk you are willing to take.
If you are interested in filing for personal bankruptcy in Plano TX, the best thing you can do is consult with an experienced and knowledgeable attorney. This person can answer all your questions, no matter what they may be. For more advice, the professionals at Collins & Arnove can step in. They can be reached at (972) 516-4255.
Collins & Arnove | Personal Bankruptcy Plano TX | 972-516-4255