Consumer Bankruptcy Lawyers in Longview, Texas

Find the right Consumer Bankruptcy attorney in Longview, 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 Longview, Texas will have some unique rules, however, so you should consult with a local lawyer before you file.

Chapter 7 Bankruptcy in Longview, Texas

There are 2 common forms of consumer bankruptcies in Longview, Texas: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 bankruptcy involves a liquidation of some of the debtor's assets, which pays off part of his or her debt. Once this is done, the remaining debt is absolved. Fortunately for debtors, many forms of property are exempt from liquidation, including homes, vehicles, basic personal items, and retirement accounts.

Once eligible assets are sold, and the proceeds turned over to the creditors, most remaining debt is cleared. 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 Longview, Texas is not dischargeable, you may want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Longview, Texas

In Longview, 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 does not excuse 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 Longview, Texas

This depends entirely on the facts of your individual case. If you have a decent amount of stable income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 may be the best option for you. If most of your property is exempt, and you don't have much stable income, Chapter 7 might be the best option.

Of course, you should always seek the counsel of an accomplished local Longview, Texas bankruptcy attorney before you make the decision to file. He or she will be able to advise you of your options, and suggest the best possible course of action for your individual situation.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Longview

Longview is located in both Gregg and Harrison Counties, in the state of Texas. It has a population of around 80,500 people. Surrounding highways include Interstate 20, U.S. Highway 80, and U.S. Highway 259. The beautiful Sabine River is quite near!

Most residents are employed by East Texas Oil Field, Kohl's, Starbucks, Target, and Wal-Mart. As evidence, the retail industry drives the economy. Some well-experienced lawyers who have wanted a break from the large firm scene have established small law offices in Longview. These attorneys are capable of handling any and every legal need.

Some famous poeple who have called Longview home include Rodney Carrington, Chris Davis, Evonne Hsu, Bill P. Keith, Malcolm Kelly, Linda Maxey, Mike Martin, Miranda Lambert, Ben Spies, James Street, Frank Steen and Bobby Taylor.

Overall, Longview is a great place to live or visit.

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