Do I need a bankruptcy attorney?

When facing financial hardship from an accumulation of too much debt, you face hard challenges. One of those challenges is deciding the best solutions for your individual situation. You may have various debt relief options to get a new start to your life. Bankruptcy, for many people, can be a very good option. However, bankruptcy may or may not be the right step for you. If you feel like you have reached the point where you are in significant debt problems, contacting a Houston bankruptcy lawyer at Baker & Associates is a good step to help you make the right choices.

Bankruptcy is one way for an individual to resolve debts that they are unable to repay. The purpose of bankruptcy is to provide people who owe money with an ability to get a “fresh start” and to move forward in life not shackled with the ongoing debt problems. Bankruptcy is a tool to allow people to “get their life back” from creditors and to be free from creditor harassment.

Bankruptcy is one of the last tools that a person should consider to resolve their debt problems. You should attempt other ways to resolve your debt problems before filing bankruptcy. However, if you do file a bankruptcy, you have not ruined your credit for your lifetime nor have you ruined your credit report for a lifetime. To the contrary, many people who file bankruptcy find that their credit scores go up within a year or two after filing. You are taking steps to remove debt and so credit scores should increase.

There are several types of personal bankruptcy but the two most often used are Chapter 7 bankruptcy and Chapter 13 bankruptcy. A third type of bankruptcy, known as Chapter 11, is generally used by large companies, but it may also be applicable to individuals that have large amounts of debt or do not qualify for Chapter 13 bankruptcy. In order to more fully understand these types of bankruptcy, you should contact us today.

If you are facing a foreclosure, you should know that bankruptcy is not your only option. There are other ways to settle your debt and keep your house. Debt relief experts at the Baker & Associates can help you understand the best method for you restore order to your financial life. Take the time to speak with a Houston bankruptcy attorney and find out what your options are.