Experienced Attorney Manages Bankruptcy for High-Earning Consumers

Experienced Attorney Manages Bankruptcy for High-Earning Consumers

DETERMINED PROTECTION FOR PROFESSIONALS WITH MUCH TO LOSE

We're all familiar with "where are they now?" stories in the media about celebrities who were once fabulously wealthy but fell upon hard times. Such reversals happen more frequently than we like to think, and the truth is, no one is immune. If you are a skilled professional - a doctor, lawyer, university professor, or corporate executive - you are only a few "hard luck investments" or one medical emergency away from crushing debt that you can't ever hope to repay, even if you continue to command an impressive salary. What's worse is that the wrong kind of financial advice at this critical time can get you even deeper into debt.

Fortunately, the Law Office of Viviana Cavada can provide the right kind of debt relief advice. High earners are not eligible for Chapter 7 dissolution bankruptcy, but they may be able to shed significant amounts of their debt through a Chapter 13 reorganization. But filing for Chapter 13 without the proper guidance can limit the amount of relief you get. With my knowledge and experience, I help ensure you hold on to the maximum amount of property you're entitled to under the law - and get the maximum relief.

TEXAS EXEMPTIONS IN CHAPTER 13 BANKRUPTCY

One area where a knowledgeable bankruptcy attorney can really help a high-earning client is with exemptions. Texas law allows debtors to choose between federal exemptions and state exemptions:

What are exemptions?

WHAT ARE BANKRUPTCY EXEMPTIONS?

Texas has laws that protect property from creditors. These are EXEMPTIONS. The Bankruptcy laws RESPECT these State laws, and allow you to EXCLUDE these assets from creditors, such as

  1. your WAGES;
  2. your HOMESTEAD (capped at a certain value);
  3. your automobile (one vehicle per licensed driver in the home);
  4. your personal property such as jewelry, furnishings, clothing; etc.
  5. Your retirement benefits in 401K and other pension funds;
  6. burial plots of land;
  7. tools of the trade needed in your profession.
I take meticulous care in reviewing your financials to make sure you get the maximum benefit from your state exemptions.

CAPABLE DEFENSE OF YOUR CHAPTER 13 PAYMENT PLAN

Another important aspect of your Chapter 13 bankruptcy is the payment plan you submit to the bankruptcy court for approval. How much you pay each month is based on your disposable income; how long your payment plan lasts generally depends on how much you earn. Creditors can challenge both the amount of your disposable income and the length of your plan, which may be as long as five years. I bring to the court's attention all relevant factors necessary to determine the equity of your payment plan and defend that plan over creditors' objections.

Contact a skilled bankruptcy attorney to protect your assets in Fort Worth (Haltom City), Texas.