Consumer Bankruptcy Lawyers in Harlingen, Texas

Find the right Consumer Bankruptcy attorney in Harlingen, TX

Bankruptcy is a legal process allowing an individual or business to have some or all of their debt excused. 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 ultimately decide that they are outweighed by the benefits. Since it's a product of federal law, bankruptcy is handled in federal courts. Therefore, the rules and procedures governing it in Texas will be the same as anywhere else in the country. Distinct courts in Harlingen, Texas will have some unique rules, however, so you should consult with a local lawyer before you file.

Chapter 7 Bankruptcy in Harlingen, Texas

There are 2 typical types of consumer bankruptcies in Harlingen, Texas: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 involves liquidation of some 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 typically includes homes, vehicles, retirement accounts, and others. These are not available to creditors.

Once the appropriate property is sold, and the funds transferred to the creditors, the dischargeable debt is absolved. Some types of debt, however, can't be excused in Chapter 7 Bankruptcy in Harlingen, Texas. These include student loans, criminal fines, and taxes, among others. If most of your debt can't be excused, Chapter 7 might not be the best choice for you.

Chapter 13 Bankruptcy in Harlingen, Texas

Chapter 13 Bankruptcy in Harlingen, Texas is very different from Chapter 7. Whether or not it is a better option is highly dependent on the facts of each distinct case. Chapter 13 bankruptcy does not discharge debt. Instead, it restructures it. This involves the bankruptcy court coming up with a new payment plan that supersedes the terms of the arrangements that gave rise to the debt in the first place. This results in an adjusted payment plan that the debtor should find manageable, if he or she can make a few sacrifices.

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

Whether Chapter 7 or Chapter 13 is the right choice for you depends heavily on your distinct situation. If you have a steady income stream, and a lot of non-exempt property, Chapter 13 might be right for you. If you don't have a steady income, and most of your property is exempt, Chapter 7 might be a better way to go.

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

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Life in Harlingen

Harlingen is city in Cameron County, Texas, located some 30 miles from the Gulf of Mexico coastline. It has a population of about 65,000 people and is the second largest city in the county. Much of the city's initial development is due to the presence of Harlingen Air Force Base, which closed in the 1960's.

Harlingen is known for being a hot spot for many sports activities and facilities. The city is home to the Rio Grande Valley White Wings, a minor league baseball team. The Valley Race Park racetrack is an indoor facility where residents can watch greyhound races.

Other popular attractions in Harlingen include the World Birding Center and the Harlingen Art Forum. Harlingen is also an ideal city for those who appreciate the fine arts. The Rio Grande Valley Art League and the Rio Grande Valley Civic Association are involved in promoting several art-themed events. The Rio Grande International Music Festival is held yearly in Harlingen.

Lawyers in Harlingen, Texas reflect the city's commitment to fostering a volunteer spirit. Many Harlingen lawyers are participants in the city's numerous community service organizations. The city is served by the Harlingen Municipal Court.

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