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Bankruptcies fall into basically two types of categories – discharge of debts with no payments (chapter 7) and repayment plans for different types of debts (chapters 9, 11, 12, and 13). What type of bankruptcy is best for you depends on a variety of factors that include income, expenses, types of debts, long term goals and restrictions in various chapters.

Credit card companies have been pushing people to use credit cards for years. Unfortunately, many people have used credit cards with the expectation of repayment only to find themselves without a job, with significant medical bills or another issue that has prevented them from repaying credit cards.

At Baker & Associates, we know that your   bankruptcy is only part of your concern: You also want to get back to a normal life. This includes rebuilding your credit score to 720 as fast as possible.

If you own a home, this is probably your largest and most valuable asset. If you have never filed a bankruptcy case and you qualify to file bankruptcy, then a bankruptcy petition stops the foreclosure of your home – it stops foreclosures on any type of physical property that you own.

If you live in Texas, you know the need for transportation and a vehicle. If you have gotten behind on your car or truck payments, or even worse, your vehicle has been repossessed, then a bankruptcy filing, in most cases, can get your vehicle back if a bankruptcy is filed within 10 days or less of the repossession.