Chapter 13
Frisco Bankruptcy Attorney for Chapter 7 and Chapter 13
April 16, 2012 | 
Author Bankruptcy is a legal strategy available to individuals or businesses that lack sufficient income to pay down their debts. If you are considering whether bankruptcy is right for you, contact the Law Offices of David Kohm for a consultation. An experienced Frisco TX bankruptcy attorney will be available to answer your questions and help you determine whether bankruptcy protection is the best strategy for your situation.
Due to the sluggish economy, many Americans are burdened with crippling amounts of debt. Bankruptcy protection allows individuals and businesses to discharge their debts. Bankruptcy law is complicated and involves a great number of regulations and restrictions. A debtor who is considering filing for bankruptcy protection should contact a skilled bankruptcy attorney to handle the case. The attorney will analyze your assets, debts and your financial goals when determining if bankruptcy protection makes sense for your situation. Chapter 13 and Chapter 7 bankruptcy protection are the most common types of protection offered to debtors under bankruptcy law.
Chapter 13 bankruptcy, also known as reorganization, requires establishing a repayment schedule to pay down debts. Enlisting the assistance of a Frisco bankruptcy lawyer will increase the likelihood that your repayment plan will be accepted by the bankruptcy court.
Chapter 7 personal bankruptcy, also referred to as “straight bankruptcy,” is one of the most common bankruptcy strategies. When you file for bankruptcy, the bankruptcy court will have authority over all of your assets. However, many types of assets are considered exempt under Texas bankruptcy law. An experienced bankruptcy attorney will explain the various exemptions available. Many debtors find that they are able to keep most of their property. An experienced bankruptcy attorney will discuss which assets need to be sold off and which ones you will be eligible to keep.
If you are overwhelmed by debt, contact the Law Offices of David Kohm at 817-204-0900 today for a free consultation.
Posted in Bankruptcy, Chapter 13, Chapter 7, Frisco TX Bankruptcy | 
Tags: chapter 13 bankruptcy, chapter 7 bankruptcy, frisco bankruptcy attorney, frisco tx bankruptcy, u.s. bankruptcy court | 
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Chapter 13 Personal Bankruptcy in Arlington TX
Getting into debt is stressful, especially if you don’t see any way out. If you’re overwhelmed by debt, you may want to consider Chapter 13 bankruptcy. This type of bankruptcy allows you to re-organize your finances so that you repay all of your debts in a structured manner over the next three to five years. While this option is not good for your credit, Chapter 13 personal bankruptcy is sometimes in your best interest, especially if you’re making a good income but are drowning in debt. Talk to an Arlington TX bankruptcy attorney before taking this step to make sure it’s right for you. The Law Offices of David Kohm would be happy to talk to you about what bankruptcy entails and whether it’s the right choice for you.
You’ll need an Arlington bankruptcy lawyer if you decide to file for bankruptcy. Texas allows you to file pro se, or without an attorney, but this is not in your best interests for a number of reasons. The petition you must file for bankruptcy is complicated, and court personnel are not allowed to advise you as to how to fill it out. Furthermore, your case can be dismissed if you make a mistake on your petition, and if that happens your creditors can renew collection activity against you.
Your lawyer can also help you file any additional paperwork and come up with a Chapter 13 structured repayment plan that is more reasonable than what you may come up with on your own. The repayment plan is the heart of this type of bankruptcy; it allows you to repay your debts over time and to discharge part of your debt burden in exchange for paying the rest. Thus, it’s important that you create the restructured payment plan properly. Your lawyer can help you do that.
It’s not easy to decide to file for bankruptcy. This decision impacts your credit for ten years and forces you to surrender some of your freedom, as your bankruptcy trustee has to approve any new loans you want to take out while your case is open before you can apply for them. Don’t try to make this decision or follow through with it on your own. Contact the Law Offices of David Kohm for a free initial consultation or for help with your bankruptcy case today.
Posted in Arlington Lawyer, Arlington TX Attorney, Bankruptcy, Chapter 13 | Tags: arlington, arlington attorney, arlington bankruptcy lawyer, Bankruptcy, bankruptcy assistance, bankruptcy law, Bankruptcy lawyer, law offices arlington | Comments Closed
Reorganization of Debt with the Law Offices of David Kohm in Arlington, TX
When facing bankruptcy filings, relying on a reputable and responsible bankruptcy attorney to fight in your corner is extremely important. An expert attorney can accurately inform you on what to do in your given situation, and more importantly, what to expect in the future as you attempt to rebuild your wealth. The process of filing for Chapter 13 bankruptcy can be a complicated process, which is why you need the Arlington TX bankruptcy attorneys from the Law Offices of David Kohm on your side.
With aggressive legal representation from the Law Offices of David Kohm, your needs will be in the bet hands possible. We have handled thousands of cases of this very nature, and can utilize that vast experience to steer you back on the right track to financial solvency today. We can prepare a repayment schedule that is fair to both you and your creditors, and one that is achievable in your current financial state. Filing for any type of bankruptcy can be a trying time, and one you should never go through alone. Reorganization can be a complicated process, as creditors can object to the repayment schedule or the court may find that your income is insufficient to cover your debt. Our Arlington TX bankruptcy attorneys can make sure that the process is a smooth one.
For all your bankruptcy needs in Arlington and the surrounding area, the Law Offices of David Kohm are here to help. For additional information regarding debt reorganization in the area, give us a call at 817-204-0900 or contact us online today.
Posted in Arlington Lawyer, Arlington TX Attorney, Bankruptcy, Chapter 13 | Tags: arlington attorney, arlington bankruptcy lawyer, arlington texas, Bankruptcy, bankruptcy assistance, bankruptcy attorney, bankruptcy help, bankruptcy law, Bankruptcy lawyer, chapter 13 bankruptcy, creditor, debt reorganization, Debt Settlement, reorganization | Comments Closed
Reducing Debt through Bankruptcy in Arlington TX
Anyone who has ever found themselves in a financial crisis knows the overwhelming decisions that come with being in default. Credit collectors may want to sue and our Arlington TX bankruptcy attorneys will be there to help you understand your legal choices.
The Law Offices of David Kohm provides you with bankruptcy attorneys who are experts in their field. There are several bankruptcy attorneys; however, none of these organizations can give you the security of experienced legal representation our Arlington TX bankruptcy attorneys can offer. Even if a debt settlement company is used, the creditor can still sue you while late fees and interest accumulate.
Some of the advantages of bankruptcy offered by The Law Offices of David Kohm are reduced debt, reduced or eliminated interest, improved credit rating, and bankruptcy may be avoided altogether.
Contact the Law Offices of David Kohm today to speak with a bankruptcy attorney in Arlington TX. Our offices can be reached at (817) 204-0900, or you may schedule a visit online.
Posted in Arlington Lawyer, Arlington TX Attorney, Bankruptcy, Chapter 13, Chapter 7, CMI Means Test, Uncategorized | Tags: Bankruptcy, bankruptcy assistance, bankruptcy attorney, bankruptcy help, Bankruptcy lawyer, Business failure, Chapter 7, collections, credit debt, creditor, Debt Settlement, Unsecured debt | Comments Closed
Learning More About Bankruptcy in Arlington, TX
For those considering filing for bankruptcy, there can be a lot that factors in this life-changing decision. Knowing and understanding the process fully is crucial in making an informed decision and unfortunately many Americans do not know how the various kinds of bankruptcy work. Those considering filing for bankruptcy can be in a trying time of their lives, which is why it is essential to consult with a trained and knowledgeable bankruptcy lawyer. Our Arlington TX bankruptcy attorneys at the Law Offices of David Kohm are here to help walk you through this process.
The most common form of bankruptcy is Chapter 7. Filing for this personal bankruptcy will provide you complete relief from creditors and collectors, a relief anyone in debt is desperately seeking. Creditors and collectors can be harassing, disrupting your daily routine with their constant phone calls. Filing for Chapter 7 creates an automatic stay, which halts collector and creditor activity. This type of filing can provide you with the peace of mind you are looking for.
Chapter 13 bankruptcy is the other form of bankruptcy, and is sometimes called “reorganization,” as this type allows you the chance to reorganize your debt. After you prove to the court you possess the income to repay your debts, you must submit a detailed repayment plan to the court to review. This plan will include your debts, income, and the length of your desired payment plan.
Before filing for bankruptcy, consult with our reputable and reliable bankruptcy lawyers. With any comments, questions, or to schedule a free consultation today, give us a call at 817-204-0900 or contact us online today.
Posted in Arlington Lawyer, Arlington TX Attorney, Bankruptcy, Chapter 13, Chapter 7 | Tags: arlington, arlington attorney, arlington bankruptcy lawyer, arlington texas, bankruptcy attorney, bankruptcy law, chapter 13 bankruptcy, chapter 7 bankruptcy, cmi means test, law offices arlington, settlement | Comments Closed