Declaring bankruptcy is considered the best and safe option if you want to get out of the labyrinth of debt that makes your life miserable. It helps you make a brand new start while equipped with the experiences that once have led you to the most perilous times of your life. However, even though the declaration of bankruptcy has helped you escape the possibility of losing your property, you cannot deny the fact that it will create a great impact to your credit-worthiness. It is believed that once a person had a record of bankruptcy, it will affect their chance of getting a job, an insurance plan, or even an apartment or house. However, for a Dallas Bankruptcy Attorney that helps people resolve their dilemmas with their finances, bankruptcy exists for a reason but should only be used when everything seems against all odds.
When it comes to the legalities of this kind of financial situation, The Donald E. Hood Law Office is the authority you can trust. They highly give attention to resolving cases that pertain to bankruptcy using their rich knowledge about when to file for bankruptcy and how it should be addressed. The problem with other people who took bankruptcy as their last option but ended up in more financial troubles, comes from not consulting a Dallas Bankruptcy Attorney, who can help identify when it is the best time to throw the towel after the much time of weighing in potential options. And just because bankruptcy can wipe away all your financial issues, it is still not a good excuse not to with regards to this matter.
So what are the signs that tell you it’s time to call it quits with your debt and consult the Dallas Bankruptcy Attorney?
The new bankruptcy law establishes stricter criteria for filing Ch. 7 bankruptcy cases. A debt can typically be discharged in a Ch. 7 case if it is unsecured, means there is no property securing the debt.
Filing for bankruptcy is an important decision, and The Law Office of Donald E. Hood, PLLC wants to make sure that the type of bankruptcy protection that you choose is the right one for you.
You are entitled to keep a generous amount of your belongings when filing Ch. 7 bankruptcy. Texas law provides for high personal exemptions–items that are protected from seizure by your creditors.