Texas Bankruptcy Lawyers
Bankruptcy is not a decision you want to mess around with. If you come to the conclusion that declaring personal bankruptcy is the best way to get out of your overwhelming debt problem, then you need some professional advice from a bankruptcy attorney. If you live in Texas, then Texas bankruptcy lawyers can help you understand how the law applies to your particular circumstances.For example, did you know that Texas has a homestead exemption which protects your primary place of residence from bankruptcy? In other words, if you owe unsecured debts like credit cards, a bankruptcy court will not force you to sell your house in order to pay for them. Of course, you still have to pay your mortgage in order to keep your home, but you don’t have to worry about other kinds of creditors going after your house.
This protection, by the way, applies regardless of the value of your home. Texas homestead exemption provides an unlimited protection when it comes to the dollar value of your house. Regarding the land that you own, the limit within the city is one acre, and the limit in rural areas is 100 acres (or 200 acres for families).
In addition to explaining the laws of your state, your bankruptcy attorney can help you understand how the federal bankruptcy code in general applies to your case. For example, Congress just passed a bankruptcy reform law in the year 2005. There is a lot of controversy and misconception about what this all means, and it really does take a bankruptcy lawyer to help you understand the process.
When you have such a monumental decision for the future of your family, why would you take any chances by trying to go it alone instead of hiring a competent bankruptcy lawyer? Any legal fees will be taken care of if you have a successful bankruptcy case. What I mean by this is that chapter 7 wipes out your previous debts and will make it easier to pay your attorney. If you file Chapter 13, your attorney’s fees may be added to repayment plan.
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