Bankruptcy Lawyer Frisco, TX: Get Back on Your Feet

FAQ

Can I Buy a House or Car During Bankruptcy?
While in bankruptcy, it is possible to purchase a house or car with court permission. The process varies depending on your bankruptcy type and stage.
Chapter 7 Bankruptcy
For chapter 7 debtors, wait until discharge or after the 341 meeting for purchase.
Chapter 13 Bankruptcy
In chapter 13, confirm the case before incurring new debt. Consult your attorney for filing a motion with the court and providing necessary financial documents to show affordability.
Frisco Division
Chapter 13 debtors in Frisco can request Trustee permission. Submit the Incur Debt Packet for review. Trustee will provide a written response. Note, not all chapter 13 offices allow this process.

Can I Retain my Possessions in Texas Bankruptcy?
Yes, in Frisco Texas, you can typically keep all of your possessions, including your home, vehicles, retirement accounts, furniture, electronics, jewelry, tools, pets, and more. As your attorney, I will work diligently to create a strategy that allows you to retain all of your belongings throughout the bankruptcy process. Your possessions are important to you, and protecting them is one of my top priorities.

Is it possible to eliminate student loans or tax debts through bankruptcy?

To address student loan and tax debts, a Frisco, TX bankruptcy attorney near you must have a thorough understanding of bankruptcy law. In 1998, a new law was enacted that made it difficult to discharge student loans. However, our law Firm based in McKinney Texas can assist in finding relief for student loan debts through Chapter 13 bankruptcy. Our attorneys have the expertise to consolidate and create an interest-free repayment plan for student loans.

Do I need to file for bankruptcy with my spouse or can I file on my own?
Filing for bankruptcy can be done by either spouse individually or together. It is not mandatory for both parties to file. When you consult with me, I will help determine the best approach for your specific situation. There are instances where it may not be necessary or advantageous for both spouses to file jointly.

I am in the process of filing Chapter 7 and I know that my car is in danger of being repossessed. What can I do?
We are not able to protect your vehicle until your bankruptcy case is filed. If your Chapter 7 case fees are paid in full, we could file your case immediately to protect the vehicle. Otherwise, we can change your bankruptcy case to a Chapter 13, if you are eligible. The money that you have already paid towards your Chapter 7 case can go towards the filing fee for the Chapter 13 case and we can file immediately to protect your vehicle. Worried about your car being repossessed during your Chapter 7 bankruptcy filing? Free file your case immediately to protect your vehicle. If not, we can explore changing your case to Chapter 13, utilizing funds already paid towards filing fees. Don’t wait, protect your vehicle today.

Will bankruptcy help me with my IRS debt?
Bankruptcy is a helpful option for resolving IRS debt because it can allow you to pay back the IRS at 0% interest, reduce the amount owed, and establish a favorable payment plan. Additionally, filing for bankruptcy can stop the IRS from placing liens or levies on your property and bank accounts.

Can I Keep My Car and Home if I File for Bankruptcy?
Free Evaluation –
Yes, you can keep your car and home, but it is important to schedule a free consultation with our attorneys to review your financial situation and explore your options.