Bankruptcy in NOT a moral failing. It is a business decision to protect you and your family from creditors!
San Antonio Bankruptcy Attorney
Do you want to stop the harassing phone calls? Filing bankruptcy can stop those calls and it can help you avoid losing your home by foreclosure. Are you aware of your options? Contact an experienced San Antonio bankruptcy attorney today to discuss all your legal needs. You have options with the help of the Hacker Law Firm. Our goal is to provide affordable legal services to those in need of bankruptcy and debt consolidation services in San Antonio, Bexar county and surrounding areas.
Bankruptcy or insolvency is the legal status of a person or a business that cannot repay the debts it owes to creditors. San Antonio Chapter 13, 7 and 11 bankruptcies can be initiated by debtors by filing a petition with the appropriate Federal Bankruptcy Court. During bankruptcy proceedings the debtor may be protected from foreclosures, repossessions, garnishments, federal lawsuits and creditor harassment.
This San Antonio Bankruptcy Lawyer site provides information on Chapter 7 bankruptcy, Chapter 13 bankruptcy and Chapter 11 bankruptcy related issues specifically relevant to residents of San Antonio and communities throughout central and southern Texas. This information is presented as a public service by the Hacker Law Firm, San Antonio based Lawyer and Attorney.
If you are faced with tough financial decisions, think of Hacker Law Firm, here to help you through the stress and uncertainty of filing for bankruptcy in San Antonio, Texas.
Why you should choose an experienced San Antonio Bankruptcy Attorney
When you are considering filing for bankruptcy, the first step in the bankruptcy process is determining if bankruptcy is the best solution for your situation. An experienced San Antonio Bankruptcy Lawyer, such as Steve Hacker at the Hacker Law Firm will give you an honest assessment and help you determine if bankruptcy is the best option for you.
Stop wondering. Get answer now! Ask an expert for help.
bankruptcy options and main differences.
A Chapter 7 bankruptcy petition wipes-out or discharges most debts and allows you to get a “fresh start”. A Chapter 13 bankruptcy petition allows you to reorganize and often reduce your debts under a 36 to 60 month repayment plan. People most commonly file for Chapter 13 as opposed to Chapter 7, is the fact that a Chapter 13 petition is perhaps the only process by which a person can save his or her home.
- Chapter 7 Bankruptcy7Liquidation
- For Individuals
- For Businesses
- Eliminates all unsecured debt
- Best for those with few assets
- Best for those with barely enough income to get by
- Must pass means test to qualify
- Typically lasts 3 to 5 months
- Keep homeChapter 13 Bankruptcy13Consumer Debt
- For individuals
- For Businesses
- Adjusts debt for repayment
- Best for those that want to keep their assets (home, vehicle, etc)
- Best for those who can pay living expenses, but not their debts
- Can last anywhere between 3 to 5 years
- Chapter 11 Bankruptcy11Reorganization
- For Businesses and professionals
- Most control over creditors
- Debtor has control of business and has power of trustee
- Create a Business Plan
- Debtor "settles" with creditor and pays according to Plan
- Allows you to keep the doors open
solutions for families and individuals. Hacker Law Firm is here to help
Chapter 7 Bankruptcy.
Generally, a Chapter 7 bankruptcy is a liquidation bankruptcy or a legal way to wipe out your debts and start fresh. You will be able to wipe out most of your unsecured debts, such as credit cards, personal loans, repossessions, medical bills, etc. Most people who file Chapter 7 bankruptcy are able to keep their homes and cars as long as they are current and remain current on their payments on those items. However, there are income limitations on who may be able to file a Chapter 7 bankruptcy.
Chapter 13 Bankruptcy.
Generally, a Chapter 13 bankruptcy is a reorganization plan bankruptcy, or a legal way to pay back a portion or all of the debts that you owe. In Chapter 13 bankruptcy, you are usually able to keep your house and/or car. The most common reason for filing a Chapter 13 bankruptcy is to allow you to catch up on your house and/or car payments and stop a foreclosure or repossession. In a Chapter 13 bankruptcy, your secured debts, including the amount you are behind on your house, your mortgage payment(s) and the amount owed on your car, and a portion of your unsecured debts including credit cards and medical bills can be repaid over a 3 to 5 year time period sometimes at a reduced interest rate.
Chapter 11 Bankruptcy.
Generally, a Chapter 11 bankruptcy is a form of bankruptcy that specific ally focuses upon reorganization. Although it is similar to chapter 13 bankruptcy, the primary difference is that there is an absence of limitations in regard to how much money can be owed by the debtor. Originally intended only for large corporations, it is now possible for individuals to file this form of bankruptcy as well. It does not matter if the business is a sole proprietorship or a corporation, as it can be used by either for reorganization purposes.
Hacker Law Firm knows Texas Bankruptcy and Foreclosure Law
