Chapter 7 Bankruptcy Attorney Helps Texas Consumers Discharge Their Debts
Skilled bankruptcy lawyer counsels individuals in the Austin area seeking relief
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. Frank Lyon, represents clients in the Austin area and throughout Texas who seek debt relief through Chapter 7 bankruptcy. Designed to give debtors a fresh start, this filing gives you and your spouse relief from many debts. With extensive experience in this area, I 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. Once you retain us, we field those calls.
Texas advocate explains the Chapter 7 means test for qualifying debtors
To qualify for Chapter 7 bankruptcy relief, the majority of your debts must be business related or 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. Frank Lyon can help you determine whether you are eligible for Chapter 7 bankruptcy and if it is the best option for resolving your debts.
Firm assists with debt discharge
The law includes many exemptions that allow you to preserve assets, such as your home, car, clothing, retirement accounts and tools of your trade. Frank Lyon 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 (forgiveness) of your remaining debt, with some notable exceptions. These include back child support and alimony payments, most student loans and recent back taxes, and advise you about how much of your debt is dischargeable, so you can make an informed decision about whether to pursue Chapter 7 bankruptcy.
Preparing for your appointment about bankruptcy
So that I can immediately begin analyzing your case, it is necessary that you bring certain information to your appointment with Frank Lyon, including:
- A list of your creditors’ names, amount of each claim and nature of the debt
- Your paystubs and bank statement for the last 6 months
- Other sources of income and amounts
- A list of what you own and estimates of the value of each item
- A list of your monthly bills and details of each expense
- Copies of the last two income tax returns that you filed
This information can help us provide an accurate assessment of whether Chapter 7 bankruptcy is appropriate for you.
Contact an experienced bankruptcy attorney in Texas
Don’t continue to live under a cloud of unmanageable debt. Chapter 7 bankruptcy can quickly discharge your qualifying debt and give you a fresh start. Call or text us at 512-646-6052 or contact me online to schedule your bankruptcy consultation at our office.