Consumer Bankruptcy Lawyers in Beaumont, Texas

Find the right Consumer Bankruptcy attorney in Beaumont, TX

Bankruptcy is a legal process allowing an individual or business to have some or all of their debt discharged. It is almost always considered as a last resort because it can have some negative long-term consequences which must be considered, even if you eventually decide that they are outweighed by the benefits. Bankruptcy is a formation of federal law, and goes through federal courts. Therefore, the process governing bankruptcy in Texas will be roughly the same as it is everywhere else in the U.S. But individual courts have different rules for what property is exempt, so you should consult a local Beaumont, Texas before you file.

Chapter 7 Bankruptcy in Beaumont, Texas

There are 2 common forms of bankruptcy in Beaumont, Texas. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 bankruptcy involves liquidation of some of the debtor's assets. It requires some percentage of the debtor's property to be sold in order to pay off as much of his or her debt as possible. However, the majority of property that most people own is exempt. This usually includes homes, vehicles, insurance policies, and retirement accounts. These do not have to be sold.

Once eligible assets are sold, and the proceeds turned over to the creditors, most remaining debt is excused. However, some forms of debt cannot be discharged in bankruptcy, including student loans, taxes, child support, personal injury awards, and fines. If most of your debt in Beaumont, Texas is not dischargeable, you may want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Beaumont, Texas

In Beaumont, Texas, Chapter 13 is quite different from Chapter 7. Chapter 13 may or may not be the best choice for you; this depends on the facts of your particular situation. Chapter 13 does not eliminate any debt, but it creates a new payment plan that should give the debtor some breathing room. Typically, all of the debts are consolidated into 1 periodic payment. While this may make it take longer to pay off the debt, if the debtor is willing to make a few sacrifices, the plan should be manageable.

Which Type of Consumer Bankruptcy Should I File in Beaumont, Texas

The answer to this question depends strongly on your individual situation. If you have enough stable income to manage a payment plan, and a lot of non-exempt property that you are unwilling to part with, Chapter 13 may be a good option. If you don't have much stable income, and most of your property is exempt, Chapter 7 might be better.

Whatever your situation, you should speak with a local Beaumont, Texas bankruptcy lawyer. Your attorney will be able to advise you of your options and their likely consequences, which will help you make a more educated decision.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Beaumont

Beaumont, Texas is a city of about 118,000 people in Jefferson County, of which it is the county seat.

Beaumont, Texas is part of an area known as the "Golden Triangle," which is an area between Beaumont and two other cities, which is a major industrial sector along the Gulf Coast of Texas. One of the largest employers in Beaumont, Texas is the Port of Beaumont, which is the nation's 4th largest seaport by tonnage. It is also the second-largest military seaport in the entire world. A large transport battalion of the U.S. Army is headquartered at that port.

This port, and the businesses associated with it, employ thousands of blue-collar workers, but they also employ many administrative professionals, including Beaumont, Texas lawyers.

Thanks to its diverse economy, many Beaumont, Texas lawyers are highly skilled in a wide variety of practice areas. So, if you are in need of legal services, it's very likely that a Beaumont, Texas attorney can help you.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Ian M.
Ian M.

Bankruptcy, Banking & Credit

Richboro, PA

Eddy H.
Eddy H.

Bankruptcy, Banking & Credit

San Mateo, CA

Howard B.
Howard B.

Bankruptcy, Banking & Credit

Rye Brook, NY