Most individuals that are running into financial difficulty do their very best to try and keep up with their debt obligations. They will make every effort possible but often the financial situation is so critical that they simply cannot get ahead and must determine if a Texas bankruptcy is the best option for them. Often what will happen is that if bankruptcy is on the horizon, debtors will try and pay off their credit cards in the hopes at that they will be able to keep these cards and use them in a post-bankruptcy situation. They also assume that the repayment of the credit card debt will not be included as part of their bankruptcy.
What has to be realized is that once you file for bankruptcy most of the credit card companies will close your account and this doesn’t matter whether you owe them money or not. In actuality the reverse takes place. You are more apt to be able to keep your credit card accounts open because you may be in a Chapter 13 bankruptcy were you are agreeing to repay them or you may be doing this through an affirmation agreement.
Really what you need to do before taking any further action about your serious financial situation is to speak to a qualified bankruptcy attorney in Houston TX who will advise you as to what actions that you should be taking and will help you determine which chapter of bankruptcy you will be eligible for. There may be situations where some debts should not be repaid before bankruptcy. You can ensure that you are prepared for a successful proceeding with a bankruptcy attorney. Houston Texas also offers certain exemptions that you may be able to take advantage of, but you may not know of them if you don’t consult a Houston bankruptcy attorney.