Chapter 7 Bankruptcy
The Fastest Way to Get a Fresh Financial Start. Call (409) 234-1490.
bankruptcy is the fastest and simplest way to wipe out debts and get a fresh financial
start. At the
Maida Law Firm, P.C., the bankruptcy lawyers offer a free initial consultation to answer your
questions about Chapter 7 bankruptcy and determine if you are eligible.
The Beaumont and Houston* offices can cater to your needs and help you
know whether Chapter 7 is right for you!
* Houston office available by appointment only.
Who Is Eligible to File for Chapter 7 Bankruptcy in Houston & Beaumont?
You can file Chapter 7 bankruptcy if you do not earn more than the median
income for your family size in Texas. Even if you earn more than the median
income, you can file Chapter 7 bankruptcy if you:
- Do not have enough earnings to repay at least 10 percent of your debt or
$10,000 over a 5-year period in a Chapter 13 debt repayment plan
- Are a military veteran who is more than 30 percent disabled
- Are on active duty with the National Guard
It is important not to just assume that you cannot file Chapter 7 bankruptcy
simply because a creditor or another lawyer said you were not eligible.
Bring your financial information to the Maida Law Firm, P.C. and the Houston
Chapter 7 bankruptcy attorneys can determine if you are eligible.
How Chapter 7 Bankruptcy Works
Filing Chapter 7 bankruptcy allows you to obtain a discharge of unsecured
debts such as credit card bills, hospital bills, unpaid traffic tickets,
and payday loans. Certain kinds of tax debts can also be discharged. Secured
debts are those that are backed by property such as your home or your
car and will have to be paid if you want to keep the property.
Chapter 7 bankruptcy is known as liquidation bankruptcy. This means that
the bankruptcy trustee has the right to take any property that is not
"exempt" and use it to pay your creditors. Exempt property is
different in every state. In Texas, you can keep all equity in your homestead.
You can also keep your retirement savings, your household belongings up
to a certain value and a car up to a certain value.
Over 40 Years of Combined Experience - Call (409) 234-1490!
The Houston bankruptcy lawyers from Maida Law Firm, P.C. can give you specific
information about which of your debts can be discharged and which assets
are exempt from liquidation during your consultation. If you have any
questions concerning Chapter 7 bankruptcy, it is important to get information from a lawyer from the firm. If you
need assistance with this chapter of bankruptcy, it is important to get
the assistance you need. Feel free to
contact one of the bankruptcy lawyers at the Maida Law Firm, P.C. in Beaumont or Houston for further information!