Austin Chapter 7 Bankruptcy Lawyer:
Many Texans are experiencing financial difficulties in today’s economy. Because of this, hardworking, sincere individuals are bogged down with all kinds of debts. Creditors often call at all hours of the day and night with threats of lawsuits and demanding payment – money that you just do not have. Fortunately, bankruptcy laws allow debtors to discharge many debts in a Chapter 7 bankruptcy proceeding. In addition to discharging unsecured debt, in the great majority of circumstances you may keep your homestead and vehicle(s). Additionally, creditors will no longer be permitted to harass you. The bankruptcy attorneys at Fear Nachawati in Austin offer a complimentary – and confidential – case evaluation. To schedule your free consultation, call 866-259-3002.
What Debts May be Discharged Under Chapter 7 Bankruptcy:
Under Chapter 7 bankruptcy, the law permits various debts to be discharged. These are primarily unsecured debts that include, but are not limited to, the following:
- Personal loans and signature loans – unsecured loans of this nature may be discharged through the bankruptcy.
- Medical and hospital expenses – most medical and hospital expenses are unsecured and are dischargeable.
- Old utility bills – these nagging expenses can be discharged.
- Unpaid back rent – your landlord will not be able to demand back payment once these debts are discharged.
Exempt Property in Texas:
Texas law provides exemptions for various forms of property. This means that it cannot be pursued by collection agencies or others and cannot be taken away from you. A few of the exemptions that may apply to you include, but are not limited to, the following:
- The Texas Homestead – as long as the property does not exceed 10 acres in a town, village or city, or 100 acres (or 200 for families) that is not located in a town, village or city, the property is exempt.
- Vehicle – Each adult family member who is a licensed driver may keep a vehicle. (Note that the vehicle does not have to be a car or truck; motorcycles and other vehicles with 2, 3 or 4 wheels are exempt).
- Home furnishings, family heirlooms, jewelry (limited to 25% of exemption), and animals (including livestock).
- Other – ask your attorney.
Contact an Austin Chapter 7 Bankruptcy Attorney For a Free Case Review:
A Chapter 7 bankruptcy will allow you to continue on in your life by discharging burdensome debt and halting the constant harassment of creditors and collection agencies. The bankruptcy attorneys at Fear Nachawati offer a complimentary case evaluation that will help you understand what you need to know in order to proceed in your Chapter 7 bankruptcy proceeding. There is no fee for this confidential review. To schedule your free Chapter 7 bankruptcy case review, call Fears Nachawati, Attorneys and Counselors at Law, at their Austin office, at 866-259-3002.