Bankruptcy Attorney in Round Rock Discusses Consumer Bankruptcy Options
Bankruptcy proceedings have been available under U.S. law since the inception of this country and are designed to allow debtors the opportunity to regain their financial footing and experience a fresh start. If you are considering consumer bankruptcy, a bankruptcy attorney in Round Rock is the best resource to explain your options and discuss the general timeline of your case. Depending on your situation, bankruptcy proceedings can be complex and time-intensive, making it highly recommended to work with an experienced bankruptcy attorney in Round Rock throughout the entire process.
Bankruptcy Lawyer in Round Rock Examines the Benefits of Chapter 13 Filings
As opposed to Chapter 7 proceedings, Chapter 13 bankruptcy proceedings do not require the complete liquidation of assets. As your bankruptcy attorney in Round Rock will further detail, the Chapter 13 proceeding allows debtors to enter into a repayment plan with creditors which is monitored by a trustee. Upon successful completion of the terms of the repayment plan, most debts will be forgiven and debtors can begin to rebuild their credit and financial future. If your debts are mounting, but manageable, a Chapter 7 proceeding may be the best course of action. Your bankruptcy attorney in Round Rock can best advise you on whether your situation fits within the purview of the Chapter 13 structure.
Bankruptcy Lawyer in Round Rock Discusses the Chapter 7 Filing Process
The majority of U.S. bankruptcy filings arise under Chapter 7 of the bankruptcy laws, which require a complete liquidation of assets for purposes of repaying debts. Your bankruptcy attorney in Round Rock will explain that not every personal asset you hold is subject to liquidation and the laws allow for debtors to retain certain assets during the bankruptcy process. For instance, your bankruptcy attorney may advise that you qualify for a homestead exemption thereby allowing you to retain your personal home during the proceedings, provided you keep up with mortgage payments and meet other criteria.
Contact a Reputable Bankruptcy Lawyer in Round Rock Today
If you are looking for an experienced, zealous bankruptcy attorney in Round Rock to handle your Chapter 7 or Chapter 13 case, contact Gallini Law, PLLC as soon as possible. We look forward to working with you toward a brighter financial future and encourage you to call 512-238-8883 today.