6 Positive Things about Houston Bankruptcy
One of the most common perceptions about declaring bankruptcy is that doing it would mean that it’s the end of the world. Contrary to what many people care, bankruptcy if anything, can actually save your money. Sure, it may bruise your reputation but that’s about it. Whether you’re filing Cypress bankruptcy in Houston or you’re still thinking about it, here’s a list that will show you the surprisingly good things about this kind of declaration.
Yes, you read that right. The state of Texas has gone through some big changes on 2005 regarding their bankruptcy law. This is good news for all individuals who wanted to file but think that it’s already too late for them to do so. There’s no such thing as too late because you can always declare bankruptcy. You just need to ensure that you submit all required documents through your lawyer. There’s really no stopping you from doing this. You deserve to live a new changed life free from debts.
This may be unheard of but you would be pleased to find out that filing more than one bankruptcy case is actually doable. This is a great option for those who really need to get rid off all their debts through a feasible and comfortable payment scheme. Your lawyer should be aware about this so make sure you ask them about this option. Expect to fill up additional paper works and you have to make sure that your counsel knows everything so that filling these multiple accounts would be easier, faster, and smooth.
Why do you need to file bankruptcy? Is it really necessary? Unless you want to drown yourself with debt and lose all your things in the process, yes it is absolutely essential that you file one. The bankruptcy law states that your things will automatically be protected such as your car, wardrobe, jewelries, and other valuables that you own.
Texas has its own exemption law when it comes to declaration of bankruptcy. These are the things that cannot be touched by your creditors because they are exempted such as your house. Make sure you discuss this with your lawyer. If agents keep on calling you to return the house, you can quickly make them stop bugging you by having your attorney call them or by sending them with a legal letter.
Most people that need to declare bankruptcy think that it is their fault. You may have a hand on this but you’re not entirely to blame. Other things like divorce, uninsured healthcare, unemployment, and bad decisions from your staff or team are some instances that can lead to this unfortunate situation. However, it isn’t the end of the world. Don’t wallow. Instead, do something about it by focusing on the things that you can do to solve the whole problem.
This is great news indeed to those who are having serious problems with their businesses. However, all of these things can only be achieved with an equally great Houston bankruptcy lawyer. Make sure that you choose your counsel very carefully. He should be someone that you’re comfortable with and should have years of experience regarding this subject.
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