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Chapter 7 bankruptcy in the state of Texas

No matter what your circumstances are, we understand that bankruptcy is a difficult decision to make. Even if your debt is affecting your daily life and you desperately need some form of debt relief, you may be reluctant to file for bankruptcy. It is possible that fear of bankruptcy comes from not knowing which filing to choose or even from misconceptions people have about the process. If you are considering filing for bankruptcy, remember that it is a legal form of debt relief, and there is no shame in taking the option.

Most people who are not intimately familiar with bankruptcy will have their first experience with a Chapter 7 bankruptcy filing. It is the most common type, and it is what most people think of when they think of bankruptcy. The thought of Chapter 7 bankruptcy can be intimidating because it involves the courts selling off your non-exempt assets to pay for your debt, and the thought of losing prized assets can be disheartening. However, if you live in Texas, you might be pleasantly surprised.

Texas is a rather generous state when it comes to bankruptcy, and much of your property will be exempt in this state. On top of discharging most of your debts while allowing you to keep many of your assets, Chapter 7 bankruptcy can also stop foreclosure and halt creditor harassment. However, it’s important to remember that this bankruptcy filing cannot discharge debts accrued from student loans or child support.

For more information on how Chapter 7 bankruptcy is handled in Texas, click here. If you decide that bankruptcy is right for you, consider meeting with a bankruptcy attorney who is familiar with the bankruptcy laws in Texas. This can help you get the most from your debt relief, and give you a fresh financial start.

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