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When to File Bankruptcy

Bankruptcy in Texas

When to file Bankruptcy

When  to file bankruptcy will depend on the objective you have in filing bankruptcy.  Are you trying to stop a foreclosure or a vehicle repossession?  How about a lawsuit?  Foreclosures in Texas always take place on the 1st Tuesday on the month.  Repossession can occur at any time but typically you will have 10 days to get your vehicle back if you file bankruptcy or if you exercise your state right of redemption.  If you have a lawsuit pending, before you file, you may ask yourself if the judgment is taken against, what do I have to lose?  If all of your property would be exempt from the creditors collection efforts, then filing bankruptcy would be necessary to clean up your credit, but for the short term, it may be advise in Texas just to close your bank account and do everything on a cash basis.  I have listed the documents you would need to file your case with my firm below:


Documents Needed

Use this page as a checklist as you gather the documents

___1.   Copies of any promissory notes, Deeds of Trust, property tax statements, or contracts on   any real estate you own or are buying.

___2.   Letter of the attorney who is doing the foreclosure on your property.

___3.   Mortgage statement (last bill they’ve sent you)

Vehicle statement and any other secured creditor statements.

___4.   Tax returns for last four (4) years 2008 – 2011.

___5.   Pay stubs for the last six (6) months from all current employers for all household                            members. (including husband and wife, even if only one is filing)        If self-employed, then                        you need an income and expense report. (we can provide you the form)

___6.   Proof of Insurance.  Have the insurance company fax us the declarations page (make sure             that the creditor is listed as a lienholder).

___7.   Bank statements for the last six (6) months. (on any OPEN or CLOSED financial


___8.   All legal documents pertaining to divorces or lawsuits which are pending or which have    been finalized in the past 24 months.

___9.   All judgments or court orders entered against you or in your favor.

__10.  Copies of any notes or retail installment contracts from banks, credit unions, finance           companies or other lenders.   Also, any security agreements or other documents listing your property as collateral for the purchase of cars, furniture, mobile homes, other    personal property, or cash loans.

__11.  Copies of all life insurance policies that have a cash value.  You do not need to bring          copies of term life policies.

__12.  All executor contracts; for instance, leases, contracts for sale or deed and lease-purchase    contracts.

__13.  Gather all your current statements and bills from all creditors which do not appear on your

credit report.  Remember, creditors with zero balance may not need to included; check      with your attorney.

Know, if the car is repossessed or it is Monday before the sale, just call me at (713) 974-1151 to discuss what is called a “barebones” petition to get you out of the pickle for the short term.  Your documents are still due but I can get an extension for up to 45 days before your case would be dismissed, at the same time you would enjoy the benefits of the automatic stay.

Our toll-free telephone number is at 1-866-912-9832. You need to learn about all of your options including information about credit, debt, bill consolidation services and federal bankruptcy law.  Please call us at 1-866-912-9832 so that we can discuss your case. You can also visit our web sitewww.busby-lee.com. Our attorney fees are reasonable, competitive, and court- approved.   It is important that you call us soon. Our office is conveniently located near the Galleria and Highway 59 on Hillcroft between Richmond and Westheimer. Call us toll-free at 1-866-912-9832 for directions to our office.

We provide bankruptcy services in the greater Houston metro area including the cities of Katy, Sugarland, Pearland, Friendswood, Clear Lake, Bellaire, Bunker Hill, Deer Park, Denver Harbor, Galena Park, Cypress, Jacinto City, Jersey City, La Porte, Missouri City, Pearland, Sea Brook, Stafford, Alief  and Galveston. We also handle cases from The Woodlands, Spring and Tomball and cases in Baytown and Channelview.

We handle bankruptcy cases in all of these counties: Brazoria, Chambers, Galveston, Matagorda, Austin, Brazos, Colorado, Fayette, Fort Bend, Grimes, Harris, Madison, Montgomery, San Jacinto, Walker, Waller, Wharton


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Michael Busby is a Houston divorce lawyer who has been in practice for over 20 years and appears daily in the Family Law Courts of Harris County and Fort Bend County Texas

Busby & Associates , have two Houston Offices, one in Chinatown, Houston Texas and another in Independent Heights, Houston, Texas. Michael Busby is Board Certified in Family law by the Texas Board of Legal Specialization.