Sometimes situations beyond your control can profoundly impact your earning potential and lead to overwhelming debt. If you find yourself unable to pay your bills, you may want to consider filing for bankruptcy. Designed to give debtors a fresh start, Chapter 7 bankruptcy gives you and your spouse relief from debts through liquidation of your assets. With more than 2017 years of experience, we can help you file for Chapter 7 quickly and efficiently. Once you have filed for bankruptcy, creditors must immediately stop collections efforts, including harassing letters and phone calls.
To qualify for Chapter 7 bankruptcy relief, you must satisfy the court's means test, which calculates your income and expenses compared to the median income in Texas. If you are not eligible for Chapter 7 bankruptcy, Chapter 13 may be available. Law Office of Viviana Cavada can help you determine whether you are eligible for Chapter 7 bankruptcy and if it is your best solution for dealing with your debts.
Liquidation means selling assets to satisfy as much of your debt as possible before the court orders a discharge for the rest of your qualifying debt. However, the law includes many exemptions that allow you to preserve assets, such as your car, clothing, and tools of your trade. Our attorneys can help you determine which of your assets are eligible for exemption so you get the maximum protection under the law. Upon conclusion of the bankruptcy proceedings, the court grants a discharge of your remaining debt, with some notable exceptions. These include back child support and alimony payments, student loans, recent back taxes, and court judgments based on personal injury claims. Our attorneys advise you about how much of your debt is dischargeable, so you can make an informed decision about whether to pursue Chapter 7 bankruptcy.
So that we can immediately begin analyzing your case, it is necessary that you bring certain information to your appointment with Law Office of Viviana Cavada, including: