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How to Find the Right Bankruptcy Attorney for YouWhen you are considering filing for bankruptcy, do not overlook the importance of who you pick to be your bankruptcy attorney. A good bankruptcy attorney can tell you whether bankruptcy is the right choice given your financial position and, if so, guide you through the process as smoothly as possible. Ensuring that you are able to discharge eligible debts and protecting your assets will be your attorney’s top priorities. How do you find someone who is not only a good bankruptcy attorney but the right fit for you? Keep these pointers in mind when you start your search.

Reviewing Your Options

It is easy to find the names of bankruptcy lawyers that work near you. Typing “Texas bankruptcy lawyer” into a web search engine will give you more results than you know what to do with. How do you narrow down your choices from there? First, your attorney needs to be someone who:

  • Practices the type of bankruptcy law that you need, such as consumer bankruptcy
  • Practices in the area where your case needs to be filed based on where you live
  • Has a track record of success with bankruptcy cases

Testimonials and referrals can point you towards bankruptcy attorneys who have good reputations. Talk to someone who has filed bankruptcy. If you have worked with an attorney in another practice area, ask them for a recommendation of a bankruptcy attorney. Visit online law directories and websites to see reviews and accolades that local attorneys have received.

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Resolving to File for Bankruptcy in 2020One of the most popular New Year’s resolutions that people make each year is to improve their physical fitness. Why not resolve to improve your financial fitness? Filing for bankruptcy may be your first step towards financial wellness if you have debts that you are unable to repay. Bankruptcy puts an automatic stay on debt collectors and allows you to discharge your eligible unsecured debts without sacrificing your most valuable possessions, such as your home and vehicle, by continuing to make payments for those assets. There are several reasons why bankruptcy may be a good New Year’s resolution for you:

  1. Getting a Fresh Start: It is difficult to improve your financial health when you have debts that will not go away. Your available income may be unable to keep up with your scheduled debt payments, causing your debt to grow worse. Completing bankruptcy gives you a fresh start that is free from the pressure of creditors. From there, it is easier to figure out how to budget your finances and find ways to save money.
  2. Timing with Taxes: You can use bankruptcy to pay off or discharge income tax debt that you owe to the IRS or state, but there are some conditions to discharging tax debts in bankruptcy. One of those conditions is that the income tax debt must be at least three years old to be eligible for discharge. Income taxes are due after the start of the new year, which means that some of your tax debt may be newly eligible for discharge as long as your recent tax returns have been filed on time.
  3. No Reason to Wait: People make New Year’s resolutions because it is a time when they assess their lives and identify things they want to change about themselves. Since we are entering 2020, you will be looking even further back at the past decade. You may have been considering bankruptcy for a while but have put off making a decision. If you need to file for bankruptcy, there is no reason to delay the process. Your debt problems are unlikely to solve themselves and may get worse instead. The sooner you file for bankruptcy, the sooner you can find relief.

Contact a Denton County Bankruptcy Attorney

The idea of filing for bankruptcy can be nerve-wracking, but remember that you are not going through the process alone. A Frisco, Texas, bankruptcy lawyer at The Page Law Firm will lead you every step of the way and show you how bankruptcy can help you. Schedule a free consultation today by calling 214-618-2101.

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Giving My Own Thanks During This Holiday SeasonIn my previous blog, I discussed the reasons that people in the U.S. can be thankful for our bankruptcy laws and the many attorneys and other professionals who help them through the process. As an attorney who practices in the areas of bankruptcy and family law, I have much to be thankful for myself. The Page Law Firm would not be what it is today – a source of legal solutions for people going through difficult situations –  without my many clients, colleagues, friends, and family members. In keeping with the spirit of the season, I would like to share what I am thankful for:

  • I am thankful for my clients who trust me to guide them through their financial difficulties and towards a better future. I know how crucial it is that you get the relief you need from the bankruptcy process.
  • I am thankful for my clients who trust me to help them make decisions about their marriages and children. I know first hand how those decisions impact today and the years to come.
  •  I am thankful to those same clients who refer me to their friends and family, allowing me to help them as well.
  • I am thankful for the laughter we share and the tears we shed throughout the process. The personal connections I form with you are one of the most rewarding parts of my job.
  •  I am thankful for my fellow lawyers who refer clients to me or contact me when they have questions. I am always happy to give answers and am grateful that you think of me when your clients need help.
  •  I am thankful for my friends who have referred their friends to me, putting their trust in me and helping me grow my practice.
  •  I am thankful for my family, who continues to support me on this journey called The Page Law Firm.

Help Is Here for Those in Need

Whether you are struggling to keep creditors at bay or have decided to divorce, you should know that you will not be alone in facing your challenge. At The Page Law Firm, we advise clients on whether filing for bankruptcy is the right solution for their debt problems and, if the answer is “yes,” guide them through the completion of the process. For those seeking a divorce, we provide compassionate legal support for sensitive issues such as child custody and try to create an amicable process whenever possible. To schedule a free consultation with a Frisco, Texas, bankruptcy and divorce lawyer at The Page Law Firm, call 214-618-2101 today.

Four Reasons to Be Thankful for BankruptcyThe holiday season is a time of year when people reflect on what they are thankful for. Family, friends and good health are often at the top of people’s lists. You are likely not thankful for financial circumstances that make filing for bankruptcy necessary, but you can instead be grateful for the bankruptcy laws and process that will help you get out of debt and on the path towards financial recovery. Here are just four reasons you may be thankful for bankruptcy:

  1. You Receive an Automatic Stay: One of the most stressful parts of being in debt is dealing with aggressive creditors and debt collectors. You may receive frequent communications, demanding repayment and threatening legal action and repossession. The first thing that filing for bankruptcy does is put an automatic stay on all debt collection efforts. That means no more phone calls or letters. If creditors are in the process of filing a lawsuit or foreclosing on your home, those actions will be put on hold.
  2. You Have Several Property Exemptions: Chapter 7 bankruptcy repays your creditors by selling your assets and distributing the proceeds. Fortunately, there are exemptions that will protect properties from being sold. In Texas, exemptions are pretty generous, which means in almost every case that your home, cars, jewelry, furniture, retirement, and pension plans are protected.
  3. You Can Discharge Your Debts: Once you have finished the bankruptcy process, most of your unsecured debts will be discharged. This means that you are clear of the obligation to repay any of these creditors. For secured debts such as home mortgages, the creditor may be able to repossess the secured property. However, if you want to keep the secured property, you can reaffirm your debt and keep making your payments on the remaining amount on the debt.
  4. U.S. Bankruptcy Laws Are Favorable to Consumers: There are many countries around the world that do not have bankruptcy laws or systems in place. Others have bankruptcy laws for businesses but not for consumers. Without a personal bankruptcy system, consumers in these countries have no protection against creditors if they become insolvent and default on their debts. The U.S. has federal bankruptcy laws that make the process consistent across the country, rather than having a process that may greatly vary by state.

Contact a Denton County Bankruptcy Lawyer

Consumers across the U.S. are fortunate to have experienced bankruptcy lawyers available to help them through the process. A Frisco, Texas, bankruptcy attorney at The Page Law Firm can discuss the advantages of filing for bankruptcy. To schedule a free consultation, call 214-618-2101.

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What to Do If You Lose Your Job During BankruptcyYour job income plays a major part in how you file for bankruptcy. Your current monthly income (CMI) determines whether you automatically qualify for Chapter 7 bankruptcy or need to take the Means Test. If your income is too high for a Chapter 7 bankruptcy, then you can file a  Chapter 13 bankruptcy, which uses your income and certain expenses to determine your monthly payments. Losing your job during your bankruptcy case could have a significant effect on the process. In this situation, it is critical to immediately inform your bankruptcy lawyer about your unemployment so you can discuss how you will respond.

Chapter 13 Repayment Plan

If you already qualified for Chapter 7 bankruptcy, becoming unemployed should not change your status. On the other hand, losing your job income will affect your ability to make Chapter 13 bankruptcy payments because you will have less disposable income. If you will not be able to afford your next monthly payment, you must not miss the payment without any explanation because the bankruptcy trustee could file a motion to have your case dismissed, allowing your creditors to take debt collection action against you. Instead, your bankruptcy attorney can help you through legal action, such as:

  • Converting your case to a Chapter 7 bankruptcy
  • Creating a new repayment plan with reduced monthly payments through a modification 

A modification will take into consideration your current income and expenses. Depending on the number of months initially proposed in your plan, you might be able to extend the time of your plan, but a plan cannot exceed 60 months. 

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National Association of Consumer Bancruptcy Attorneys State Bar of Texas
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