Lufkin Chapter 7 Bankruptcy Attorney
Serving All of East Texas
If you are struggling with overwhelming debt, you have legal options that could minimize or dissolve how much you owe. The Law Offices of W. David Stephens can help you understand the bankruptcy process and determine if it right for you.
Since 1980, our firm has been providing qualified legal assistance to those who are considering filing for bankruptcy. Our Lufkin Chapter 7 lawyer has successfully handled over 10,000 bankruptcy cases. When you entrust your case into the capable hands of W. David Stephens, our team can personally guide you through the bankruptcy process from start to finish.
Let our experienced bankruptcy attorney help you regain control over your finances. Reach out to us at (936) 298-5388 today or contact us online.
Chapter 7 Bankruptcy in Texas
Chapter 7 is the most common form of consumer bankruptcy. It allows individuals and families to get a fresh start by eliminating unsecured debts. This type of bankruptcy involves a liquidation where a trustee collects all of a debtor’s assets and sells any items that are not exempt.
Texas bankruptcy law allows debtors to exempt or protect several items from creditors, including:
- Homestead
- Certain personal property
- Insurance
- Pensions
- Public benefits
- Tools of trade
- Earned but unpaid wages
- Unpaid commissions
After the trustee sells all non-exempt assets, he or she distributes the proceeds to the debtor’s creditors in order of priority. Typically, in a Chapter 7 bankruptcy, unsecured debts will be discharged, such as medical debts, credit card debts, and loans not backed by collateral. This means that you will not be required to repay the debt. It also brings a stop to burdensome collection calls and collection lawsuits.
There are certain debts that cannot be discharged in a Chapter 7 bankruptcy, including:
- Child support
- Alimony
- Student loans
- Criminal fines
- Tax debts
The debtor will still owe payment for these types of debt, even after filing for chapter 7 bankruptcy.
Contact the Law Offices of W. David Stephens Today
Bankruptcy is a very complex area of law. If you are considering filing for bankruptcy, it is critical to have a Lufkin Chapter 7 lawyer on your side who is not going to make mistakes. Going forward, make it your priority to contact our seasoned bankruptcy lawyer.
Call (936) 298-5388 today to schedule your free consultation.
