Understanding Bankruptcy and Dispelling Myths
When a bankruptcy client comes into my law office, one of the first things they may ask is whether filing bankruptcy means they are going to lose everything they own. Of course, the answer is "no." In fact, depending on your specific financial situation, you will likely get to keep most of your personal belongings, as well as the equity in your home and the equity in your automobile.
Answers and Solutions Today | Call Robert W. Berry, Attorney at Law, in Austin, Texas, at 512-501-1948 or 888-893-5886 | E-Mail | Free Initial Consultation
In a way, my job as a bankruptcy lawyer is as much about dispelling bankruptcy myths as it is about educating people on debt relief solutions and helping them create a sound financial plan for their future. Some of the common questions people ask include:
What Can I Keep?
Both Chapter 7 bankruptcy and Chapter 13 bankruptcy allow people to keep most (if not all) of their property and belongings. If you are struggling with debt, and focused on keeping your home or preventing repossession, you probably have questions. I am here to help.
Can I Eliminate Divorce-Related Debts Through Bankruptcy?
Alimony/spousal support, child support, and debts you are obligated to pay in your divorce decree may not be dischargeable debts. If you are considering divorce and are also in debt, it may be wise to contact me prior to the final entry of your divorce decree. I understand how bankruptcy law works in relation to divorce, and I can advise you on how to best proceed through these financially and emotionally tough times.
If I Am Filing a Chapter 13, Do I Have to Pay Back All of My Debt?
Chapter 13 is a court-approved debt consolidation and repayment plan. You are allowed to gradually repay missed mortgage/auto loan payments and keep the house/automobile. You are allowed to gradually repay your income tax debts at 0% interest. Depending on your income, you may only have to pay back a portion of your unsecured debts (such as credit cards, medical bills, and personal loans) at 0% interest.
Learn What You Need to Know About Bankruptcy
At a free initial consultation with Robert W. Berry, Attorney at Law, learn how I can help you get back on the road to financial freedom. Call 512-501-1948 or 888-893-5886 or contact us online.
I am a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.
