Consumer Bankruptcy Lawyers in Garland, Texas

Find the right Consumer Bankruptcy attorney in Garland, TX

Bankruptcy is a legal process allowing an individual or business to have some or all of their debt absolved. 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. Since it's a creation of federal law, bankruptcy is handled in federal courts. Therefore, the rules and procedures governing it in Texas will be the same as everywhere else in the country. Particular courts in Garland, Texas will have some unique rules, however, so you should consult with a local lawyer before you file.

Chapter 7 Bankruptcy in Garland, Texas

There are 2 common forms of consumer bankruptcies in Garland, Texas: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 involves liquidation of part of a debtor's assets. It requires that a certain percentage of the debtor's property to be sold to pay off as much debt as possible. The majority of property that most people own, however, is exempt. This normally includes homes, vehicles, retirement accounts, and others. These are not available to creditors.

Once all non-exempt assets are sold, and the money from the sales turned over to the creditors, most remaining debt is absolved. But some forms of debt cannot be discharged through Chapter 7 bankruptcy. These include child support payments, student loans, and criminal fines, among others. If most of your Garland, Texas debts are not dischargeable, you may want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Garland, Texas

In Garland, Texas, Chapter 13 is very different from Chapter 7. Chapter 13 may or may not be the best choice for you; this depends on the facts of your individual situation. Chapter 13 Bankruptcy involves a court setting up an altered payment plan, which allows the debtor to pay off most or all of his debts over a prolonged period of time, through monthly payments that should, assuming that the debtor is willing to make a few sacrifices, be manageable.

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

The answer to this question depends strongly on your particular 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.

In any case, you should talk with a local Garland, Texas bankruptcy lawyer. Your lawyer can advise you of your options and inform you of their likely outcome. This will make it much easier for your to make an informed choice.

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Life in Garland

Garland is located northeast of Dallas, Texas. It is located in Dallas County, with some areas in Collin County. Per the 2010 census, it has a population of 226,876 people.

Interestingly, CNN and Money Magazine included Garland in its "Top 100 Places to Live" list, ranking it sixty-seven.

Top employers include Sears, Atlas Copco, Raytheon Intelligence and Information Systems, Danaher, General Dynamics, Kraft Foods, L-3 Communications and US Foodservice. The legal industry also has a potent presence because many well-experienced attorneys call Garland home. Thus, businesses and residents need not travel far to receive excellent legal services.

Some great sites to check out is the Historic Downtown Garland, Patty Granville Arts Center, The Plaza Theater, Pace House and The Garland Opry.

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