${site.data.firmName}${SEMFirmNameAlt} ${site.data.firmName}${SEMFirmNameAlt}
254-633-2876 | fax 866-825-8786
Main Menu
  • Let
    Our
    Family
  • Help
    Your
    Family
  • Free No Obligation
    Bankruptcy
    Consultations

Bankruptcy Attorney
Helping People Of Waco
Find Debt Relief

What to expect after Chapter 7 bankruptcy

Bankruptcy is a frightening word for many people, but that's because many people do not fully understand what bankruptcy is and what it does. To most people, bankruptcy is the ultimate sign of failure, an indication that a person is such a poor financial manager that he or she could not stay out of debt. We know that many debts are the result of tragic, unexpected circumstances such as sudden loss of employment or accidental injury, and that is why we encourage bankruptcy.

Bankruptcy is a legal form of debt relief that can help people get a fresh financial start. This is an important consideration because some people fear that after filing for bankruptcy, they will still be in a bad spot financially. They fear that their credit will be destroyed, or that the government will heavily monitor their finances.

The truth is that there is no law or regulation that makes the IRS more likely to audit you or monitor your finances after bankruptcy. In fact, the long-term effects are rarely detrimental. And by filing for Chapter 7 bankruptcy, you can discharge many different debts, including some tax debts depending on the circumstances. Additionally, you can stop foreclosure on your house by filing for bankruptcy.

It is important to remember that bankruptcy is not an all-purpose financial problem solver. There are some debts that cannot be discharged, such as child support payments or student loans. However, even if these are the most troubling debts for you, discharging other debts can allow you to focus more money on paying the debts you can't discharge. If you live in Texas and you're considering filing for bankruptcy, you may wish to meet with an attorney to learn more about how bankruptcy can help you.

No Comments

Leave a comment
Comment Information
National Association of Consumer Bankruptcy Attorneys The College of the State Bar Of Texas Greater Waco Chamber of Commerce Member Logo

Office Location

The Kehl Law Firm, P.C. 3715 Bellmead Dr Waco, TX 76705

254-633-2876

Fax: 866-825-8786

Waco Law Office Map

Connect With Us

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy