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Bankruptcy Lawyers in Texas
Our Experienced Texas Attorneys Will Fight For You
Bankruptcy Lawyers in Texas
Our Experienced Texas Attorneys Will Fight For You
Do You Need Legal Help?
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These guys are amazing. They made a most horrific experience bearable. They treated me with respect and no judgment. I cannot describe how grateful I am for their representation with my case. 5 stars is not enough. I hope I never need them again but would ABSOLUTELY use them again and definitely recommend them.
— Jennifer S.
Jonathan Zendeh Del and Associates worked tirelessly on my case. They kept me informed every step of the way. In the end the got my case dismissed and I am so grateful that we out our trust in his law firm. I can honestly say the rumors were true. He really is the best.
— Kristin F.
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7 Costly Mistakes to Avoid When Filing for Bankruptcy in Texas
Learn what you shouldn't be doing during your bankruptcy case. Submit your information below to download our free PDF guide.
Bankruptcy Lawyers in Texas
Bankruptcy can be a daunting topic, but it is a crucial legal option for those overwhelmed by debt. Whether you are an individual struggling to keep up with bills or a business facing financial difficulties, bankruptcy provides a way to seek relief. For many, bankruptcy offers the possibility of a fresh start, but it’s important to understand how the process works and what it means for you.
What is Bankruptcy?
Bankruptcy is a legal process that helps individuals and businesses eliminate or reorganize their debts under the protection of the court. It gives people a chance to rebuild their financial lives by either discharging certain debts or creating a manageable repayment plan. In Texas, there are several types of bankruptcy, each designed to meet different needs.
For individuals, the most common forms are Chapter 7 and Chapter 13. Chapter 7 bankruptcy, often referred to as “liquidation,” allows individuals to discharge most of their unsecured debts, such as credit card balances and medical bills, while giving up certain non-exempt assets. On the other hand, Chapter 13 bankruptcy involves a repayment plan, allowing individuals to keep their assets while paying off a portion of their debt over a period of three to five years.
For businesses, Chapter 11 bankruptcy allows for reorganization, enabling the company to continue operations while restructuring its debts. This can be a lifeline for businesses that want to stay in business but need time to recover financially.
How Bankruptcy Affects Individuals
When individuals file for bankruptcy, they often feel a mix of relief and concern. While bankruptcy can offer a fresh financial start, it comes with important consequences that should be carefully considered. One of the primary effects is the impact on credit. A bankruptcy filing will stay on your credit report for several years, which may make it harder to qualify for new loans, credit cards, or even rental agreements. However, for many, the long-term benefit of eliminating burdensome debt outweighs the temporary damage to credit.
Another important consideration is the loss of assets in some cases. In Chapter 7 bankruptcy, non-exempt property can be sold to pay creditors. However, Texas has specific exemptions that allow you to protect certain types of property, such as your home and car, as long as they are not worth more than the exemption limits.
Bankruptcy also provides protection from creditors. Once you file, an automatic stay goes into effect, preventing creditors from calling, suing, or garnishing wages. This can be an enormous relief for individuals facing constant harassment from creditors.
How Bankruptcy Affects Businesses
For businesses, bankruptcy can provide an opportunity to restructure debt while continuing operations. A business filing for Chapter 11 bankruptcy is not shut down but given a chance to reorganize its finances. This can include negotiating with creditors for better payment terms, reducing overhead costs, or even selling off parts of the business to stay afloat.
However, bankruptcy can also have significant consequences for businesses. It may damage the company’s reputation, making it harder to secure future business relationships. The process can be costly, and the business owner must be committed to making tough decisions to ensure that the reorganization plan succeeds. If the business cannot recover through Chapter 11, it may be forced to convert to Chapter 7 bankruptcy, which involves liquidation and the closing of the business.
Why Hiring a Bankruptcy Lawyer in Texas is Crucial
Navigating the bankruptcy process is complex, and it’s important to have professional guidance every step of the way. Bankruptcy laws are intricate and constantly evolving, and having a knowledgeable bankruptcy lawyer by your side can help ensure that your rights are protected throughout the process.
At Zendeh Del & Associates, PLLC, we understand the challenges you face and are committed to providing personalized, compassionate legal assistance. Whether you are an individual struggling with overwhelming debt or a business in need of financial restructuring, our bankruptcy lawyers in Texas are here to help you make informed decisions and guide you through the legal procedures with confidence.
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Common Mistakes People Make When Facing Bankruptcy
Filing for bankruptcy is a serious decision that can affect your financial future. It’s important to approach the process carefully to avoid making costly mistakes that could make your situation worse. As experienced bankruptcy lawyers in Texas, we have seen many people make the same mistakes when facing bankruptcy. Understanding these common pitfalls can help you make better choices and protect your financial well-being.
Not Seeking Legal Help Early Enough
One of the biggest mistakes people make when considering bankruptcy is waiting too long to seek professional help. Many people try to handle their financial struggles on their own, hoping the situation will improve. However, the longer you wait, the more difficult it can be to fix your financial problems. Bankruptcy laws are complex, and a delay can lead to missed opportunities to protect your assets or discharge debts. Consulting with a bankruptcy lawyer in Texas early in the process can help you understand your options and take the necessary steps to resolve your financial troubles.
Hiding Assets or Income
Another mistake that can have serious consequences is hiding assets or income. Some individuals may try to hide property or income to keep it out of the bankruptcy process. This is illegal and can lead to severe penalties, including having your bankruptcy case dismissed. It is crucial to fully disclose all of your assets and income when filing for bankruptcy. Transparency is key to ensuring that your bankruptcy process runs smoothly and that you receive the full benefit of filing.
Choosing The Wrong Type of Bankruptcy
There are different types of bankruptcy, such as Chapter 7 and Chapter 13, and choosing the wrong one for your situation can create problems. Chapter 7 bankruptcy allows for the discharge of most unsecured debts, but it may require you to give up certain assets. Chapter 13 bankruptcy, on the other hand, involves creating a repayment plan to pay off your debts over time. If you choose the wrong type of bankruptcy, it can delay the process or result in your debts not being fully resolved. An experienced bankruptcy lawyer in Texas can guide you in selecting the best option based on your specific circumstances.
Ignoring Non-Dischargeable Debts
Certain types of debts, such as child support, alimony, and student loans, are not dischargeable in bankruptcy. Some individuals may mistakenly believe that bankruptcy will wipe out all their debts. Failing to recognize that certain debts cannot be discharged can lead to disappointment and confusion. It is important to fully understand which debts can and cannot be included in a bankruptcy filing to avoid surprises later on.
Failing to Keep Up With Court Requirements
Bankruptcy requires strict adherence to court rules and timelines. Failing to follow these requirements can result in your case being dismissed. For example, missing deadlines for submitting documents or failing to attend required hearings can cause delays or even the loss of your chance to discharge your debts. It is essential to stay organized and keep track of all the requirements during the bankruptcy process. Working with a bankruptcy lawyer can ensure that all deadlines and requirements are met.
Frequently Asked Questions About Bankruptcy
At Zendeh Del & Associates, PLLC, we understand that considering bankruptcy can be a daunting experience. Below, we’ve compiled some of the most common questions people ask when contemplating bankruptcy. Our team of experienced Bankruptcy Lawyers in Texas is here to guide you through every step of the process.
What is bankruptcy, and how can it help me?
Bankruptcy is a legal process that allows individuals and businesses to eliminate or repay a portion of their debts under the protection of the federal court system. It can provide a fresh start by reducing overwhelming financial burdens. The process helps to eliminate unsecured debts, like credit cards and medical bills, and may also allow you to reorganize other types of debts.
Am I eligible for bankruptcy?
Eligibility for bankruptcy depends on your financial situation and the type of bankruptcy you are considering. Individuals can file for Chapter 7 or Chapter 13 bankruptcy, depending on their income, debts, and assets. Chapter 7 is for those who qualify for debt discharge, while Chapter 13 involves creating a repayment plan. Our Bankruptcy Lawyers in Texas can assess your financial circumstances and determine which option is best for you.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 bankruptcy, also known as liquidation bankruptcy, involves the discharge of unsecured debts like credit cards and medical bills. Non-exempt assets may be liquidated to repay creditors, but most people who file for Chapter 7 can keep their essential property. On the other hand, Chapter 13 bankruptcy is for individuals who have a regular income and can create a repayment plan to pay off debts over 3 to 5 years. The repayment plan often allows you to keep more assets, but you will need to make monthly payments.
Will bankruptcy ruin my credit forever?
While filing for bankruptcy can negatively impact your credit score, it is not a permanent mark. Bankruptcy will remain on your credit report for several years (Chapter 7 for 10 years, Chapter 13 for 7 years), but over time, as you rebuild your finances and demonstrate responsible credit behavior, you can improve your credit score. Many individuals find that bankruptcy helps them regain financial stability and eventually rebuild their credit faster than they could have without filing.
Will I lose everything I own if I file for bankruptcy?
In many cases, individuals do not lose all of their possessions when filing for bankruptcy. Texas offers exemptions that allow you to keep essential property, such as your home, car, and personal belongings. However, the type of bankruptcy you file for and the specific assets involved can affect what you can retain. Our team of Bankruptcy Lawyers in Texas can help you navigate the exemption laws and protect your assets to the greatest extent possible.
How long does the bankruptcy process take?
The length of the bankruptcy process varies depending on the type of bankruptcy and your specific circumstances. Chapter 7 bankruptcy typically takes about 3 to 6 months to complete, while Chapter 13 can take 3 to 5 years due to the repayment plan. Throughout the process, your Bankruptcy Lawyers in Texas will work closely with you to ensure everything is proceeding as smoothly as possible.
Will bankruptcy stop wage garnishments or foreclosure?
Yes, filing for bankruptcy can temporarily stop wage garnishments, collection calls, and foreclosure actions. When you file, an automatic stay goes into effect, which prevents creditors from taking further collection actions against you. However, the automatic stay is temporary and may be lifted in some cases, so it is essential to discuss your situation with a lawyer to understand your rights fully.
How much does it cost to file for bankruptcy?
The cost of filing for bankruptcy varies depending on the type of case, the complexity of your financial situation, and lawyer fees. While there are court filing fees associated with both Chapter 7 and Chapter 13 bankruptcies, the fees for legal representation can vary. At Zendeh Del & Associates, PLLC, we offer consultations to help you understand the full cost involved and discuss payment options that fit your financial situation.
Texas Bankruptcy Client Story
This client story is for educational purposes only.
Vincent had reached a breaking point. Every day felt like a mountain he couldn’t climb. Bills stacked up on his kitchen table, the phone rang non-stop with calls from debt collectors, and each night he went to bed, the worry seemed to grow heavier. He was drowning in debt, and no matter how hard he worked, it felt like he was getting nowhere.
One evening, after yet another stressful day, Vincent knew something had to change. He couldn’t keep going like this. That’s when he remembered hearing about Gabe Perez, a bankruptcy lawyer at Zendeh Del & Associates, PLLC. He decided to make a call.
When Vincent spoke to Gabe, he felt something he hadn’t felt in a long time: hope. Gabe listened patiently, never rushing him, and truly understood the stress Vincent was going through. Gabe didn’t judge. Instead, he laid out a clear plan to help Vincent understand his options, explaining the bankruptcy process in simple, easy-to-understand terms. Vincent had no idea how the process worked, but Gabe made it seem less scary.
Gabe walked Vincent through each step, ensuring he knew exactly what was going to happen. From the paperwork to the hearings, Gabe was there to answer all of Vincent’s questions, helping him feel more at ease with the decisions he had to make.
When the day came to file, Vincent felt a wave of relief. He could finally see a way out. And, true to his word, Gabe helped guide Vincent through the final steps, making sure that the bankruptcy was handled smoothly and properly.
Months later, Vincent looked back at how far he had come. The phone no longer rang with collections calls, and he was starting to rebuild his life. He was living with peace of mind again, without the constant fear of falling deeper into debt. All thanks to the help of Gabe Perez and the team at Zendeh Del & Associates, PLLC.
Take Control of Your Financial Future With Zendeh Del & Associates, PLLC
If you are facing financial challenges, it can feel overwhelming, and you may be unsure of where to turn. At Zendeh Del & Associates, PLLC, we understand the stress that comes with financial struggles. Bankruptcy may be the right option for you, but the process can be complex and confusing without the guidance of a knowledgeable professional.
Schedule an Appointment Today
Our team of experienced bankruptcy lawyers in Texas are ready to help you navigate the legal aspects of filing for bankruptcy. Whether you are dealing with mounting debt, foreclosure, or creditor harassment, we can guide you through the process and help you understand your options. We believe in providing clear and reliable advice tailored to your specific situation.
Don’t face these challenges alone. Reach out to Zendeh Del & Associates, PLLC today to schedule an appointment with one of our bankruptcy lawyers. We are here to listen to your concerns, answer your questions, and help you take the necessary steps to regain control of your financial life. Your future starts now, and we are ready to be by your side every step of the way.
Client Reviews
Jonathan and Natalie have so much expertise in handling evidence, reports, and documentation and my case proved it. They made sure every detail was correct down to the most minuscule piece, and because of that we we’re able to get the case dismissed due to some inaccuracies. Extremely grateful for them!
Jesse Miranda
