What Will Bankruptcy Do for Me?

DFW Bankruptcy Lawyers; Get a Fresh Start Financially

Texas Bankruptcy Law Firm – Dallas, Ft Worth, Houston, Austin & San Antonio

Bankruptcy is a chance to recreate yourself financially, and to wipe away, or repay all or some of your debts under the protection of the U.S. Bankruptcy Court. After you file for bankruptcy, an automatic stay issued by the Court stops your creditors from contacting you, verbally abusing or harassing you, and puts an immediate end to all collection activities – even home foreclosures and auto repossessions.

Bankruptcy laws also protect your hard-earned assets. Consumer debtors who file for bankruptcy in Texas are allowed to claim bankruptcy exemptions (under most circumstances) that permit them to keep most of their personal property, including their retirement accounts, their primary residence, their furnishings, their vehicles and so much more.

A Chapter 7 “straight bankruptcy” could completely wipe out your credit card debt, medical bills, pay day loans, creditor judgments, past due utility bills and other forms of unsecured debt in six months or less. A Chapter 13 “wage earners” plan allows working men and women to repay some or all of their debts in affordable monthly payments over time.

The trusted DFW bankruptcy lawyers at our Texas Bankruptcy Law Firm often suggest a Chapter 13 plan for clients who are behind in car or house payments and want to become current on their accounts without losing any of their personal property.

What the Automatic Stay Order Does for You

The filing process can be a bit complex, but handling complexities is a bankruptcy attorney’s job. Your job is to be totally honest with the attorney about your financial situation. Once all the paperwork is filed, the Court issues an Automatic Stay order. Once the stay order is in effect, the following occurs:

  • All communication – via phone, text, e-mail, or postal mail from creditors or debt collectors must immediately cease.
  • Legal actions such as checking account garnishments, repossessions, foreclosures or bank levies are immediately halted.
  • Certain liens can be removed.
  • After the automatic stay order goes into effect, communication from creditors is done solely through your attorney. This allows you to focus on putting your finances back in order without the stress of creditor or debt collector harassment.
  • After your bankruptcy is discharged, you are likely to rebound faster than you think. Within two years, many of our clients have a higher credit score than they did prior to the bankruptcy.

If you want to know what bankruptcy can do in regards to your particular financial circumstances, please call Fears Nachawati Law Firm today to speak to one of our DFW bankruptcy lawyers during a free initial consultation. Our telephone number is . We have affordable payment plans to accommodate you.

“Jacqueline, we appreciate your promptness and your professionalism that you have shown thus far. Thanks again for being patient and answering all of my questions on yesterday. We are very pleased with our choice!”


— Arlington, TX