The Benefits of Filing Bankruptcy in Houston
One of the most common misconceptions when it comes to filing bankruptcy is that doing it can mean that it’s the end of everything. This might be a shocker to most people but officially declaring that you or your business is bankrupt would provide many advantages that you can only get if you file for one.
You must know that bankruptcy law slightly differs from each state so you need to double-check what you need to do within your locality. If you’re residing in Houston, Texas or have been living in the city for 180 days, you can easily file at the city court. This includes all master communities in Houston such as El Lago, which would mean that you would need to file for El Lago bankruptcy.
All of these towns are under the Houston Bankruptcy regulation and you must conform to their requirements so that you can successful go through with the legal proceedings. You would also need a good and reliable Houston bankruptcy lawyer so choose wisely because after all, you’re putting him in charge of your life. To further understand why you really need this kind of solution, here are the things that can benefit you from this law.
Debts No More
The main purpose of this law is to help the individual to recover by wiping out almost all debts. This means you would soon be discharged from all debts as soon as you have completed all the judicial proceedings that are mandatory for you to follow. However, not everything can be covered by this law. Also known as non-exempted debts, these are child support, debts from divorce and fraudulent activities, student loans, and alimony.
Say Goodbye to Creditors
Don’t you hate it when agents from your credit cards and from your house would incessantly call you for payment? It is a harsh reality that many individuals experience but if you file for bankruptcy, this stressful harassment can quickly be stopped. This is because you don’t need to pay them anymore. Make sure you’re aware of that so that in the event that they still call you even after you have been discharged from all debts, immediately call your lawyer so that he can handle it for you.
Your Properties will be Protected
For your house, life insurance, earned salaries, clothing, furniture, and the like can be saved from your creditors. There are certain rules and value in order for you to qualify so you need to make sure that you discuss your options with your lawyer. This can certainly avoid unwanted liquidation of personal properties. Remember, always ask your attorney and never assume.
Make no mistake because filing for bankruptcy is a laborious and painful process for those who need to go through this ordeal. If everything has been filed correctly, rest assured that all your hard work, effort, time, and money will be worth it. It is the only way that you can finally say goodbye to your old difficult lifestyle and say hello to a debt-free life.
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Call us today at (713) 974-1151 to schedule a no-obligation consultation or feel free to email us at Consumerlaw@busby-lee.com.