Waco Bankruptcy Attorney
Chapter 7 & 13 Bankruptcy Lawyers
Explore your debt relief options. Get a fresh start in Texas.
Allmand Law Firm PLLC: Waco Bankruptcy Attorneys in Texas, Chapter 7 & 13 Bankruptcy
Facing financial troubles in Waco, Texas?
Waco, the heart of Texas, is home to a colorful plethora of shops, vibrant restaurants, and exciting recreational facilities for families such as Cameron Park, or the Texas Ranger Hall of Fame and Museum. Waco also appeals to lovers of peace and serenity as it prides itself on overlooking sunsets, riverfronts, bridges, and trails.
However, enjoying Waco’s peace and quiet can be challenging if you are going through a financial setback and worrying about the next day. This is where a Waco bankruptcy attorney steps in–to help individuals like you, and struggling families achieve financial freedom. If you are drowning in debt or stuck in a cycle of making both ends meet, our bankruptcy attorneys are committed to breaking the cycle of debts. We are not here to judge but to help you start over again. A Chapter 7 or 13 bankruptcy petition can be your ticket to enjoy quality time with your loved ones without thinking about how to repay looming loans.
Dealing with insurmountable debt?
Now is the best time to discuss your debt relief options with a Waco bankruptcy lawyer at Allmand Law Firm, PLLC. Our team of experienced bankruptcy lawyers handles each case with respect and sensitivity to guide our valued clients from Dallas, Hurst, Fort Worth, and the Mid Cities toward a new start.
Take the first step toward a more peaceful and stable financial future and enjoy everything that Waco has to offer. Let us help you explore your bankruptcy options. Contact a Waco bankruptcy attorney at our firm to get started with a FREE case evaluation.
Quick Links to Chapter 7 & 13 Bankruptcy Information Below
Allmand Law Firm, PLLC: Get Help From a Board Certified Bankruptcy Expert
We are a full-service bankruptcy firm that represents bankruptcy clients in Dallas, Fort Worth, Austin, El Paso, Midland, San Antonio, Waco, and other areas throughout the state. At Allmand Law Firm, PLLC, our clients are our top priority. Our legal team is dedicated to evaluating each case to finding the best workable debt solution that fits the needs of each individual and family.
We provide an individualized approach to families in financial distress and debtors losing hope for financial recovery. Every case is different and every story is unique. We’re ready to listen to yours and help you in every way we can.
Why trust Allmand Law Firm to handle your bankruptcy case?
- We are the largest bankruptcy filing firm in Texas
- We have handled thousands of bankruptcy cases in Texas
- We have over two decades of experience
- We’ have been featured on ABC, CBS News, & Fox News
- We give financial empowerment sessions for FREE
The Allmand Difference: Our Debt Relief & Bankruptcy Services
Are you eligible for tax forgiveness? Unsure whether a Chapter 7 bankruptcy or Chapter 13 bankruptcy is right for you? or facing the threat of home foreclosure or property repossession? Speak with our Waco bankruptcy attorney about your situation so we can find the best bankruptcy option for you.
Learn more about the debt relief and bankruptcy services we offer:
Benefits of Filing Personal Bankruptcy
Regain control of your life by managing your debts. To do so, ask a Waco bankruptcy attorney about the process for filing a Chapter 7 or Chapter 13 bankruptcy. Although bankruptcy is not a one-size-fits-all key, it can be highly beneficial for individuals in rough financial patches.
An experienced Texas bankruptcy lawyer can help you decide the best bankruptcy strategy to arrive at a debt discharge, whether it by liquidating your assets in a bankruptcy estate and repaying creditors as done in a Chapter 7 bankruptcy, or reorganizing debts in a repayment plan under a Chapter 13 bankruptcy, the perfect choice is just a few steps away.
If you would like to file for bankruptcy, ask our Waco bankruptcy attorneys about the following benefits:
- Halt creditor collection activities through the automatic stay court injunction
- Discharge most, if not all, of your unsecured debts
- Prevent home foreclosure
- Stop vehicle repossessions and wage garnishment
- Have a clean slate and a fresh start
Filing Chapter 7 Bankruptcy
Chapter 7 bankruptcy, also known as liquidation bankruptcy is meant for debtors who don’t have sufficient income to pay back their debts. Almost all debts in a Chapter 7 bankruptcy case are forgiven in a discharge notice. But there’s a caveat: a filer should be willing to sell certain property to repay lenders. Before you can file for bankruptcy under Chapter 7, you must pass a Means Test which evaluates if your income meets bankruptcy guidelines specified for Chapter 7. A Waco bankruptcy attorney can walk you through the Chapter 7 filing process and help you prepare for the means test.
Filing Chapter 13 Bankruptcy
Chapter 13 bankruptcy, on the other hand, is known as the “reorganization” bankruptcy since it can be used to manage your debt over a three to five year repayment period. To qualify for this type, you must have enough income to repay your creditors, as evidenced by a stable source of income. However, the total worth of your debts should not exceed certain limits. This is why people who don’t qualify under Chapter 7 may utilize the Chapter 13 bankruptcy process.
The Bankruptcy Process
Filing for bankruptcy can get complicated. It involves accomplishing bankruptcy forms and providing a plethora of information to the court. There are also bankruptcy court hearings and other procedures you must follow. To help you navigate through these processes, a skilled bankruptcy lawyer by your side would be valuable.
Below is an overview of the steps in declaring bankruptcy:
Step 1: Attend credit counseling in a U.S. Trustee-approved agency.
Within 180 days before your file for bankruptcy, you should complete a credit counseling course. Make sure that the course provider should be approved bt the U.S. Trustee’s office and be ready to spend $25 and $35 for the course. If you cannot afford credit counseling, you may be eligible for discounts or even a free course.
Step 2: Submit your bankruptcy petition with the federal court.
You must file your petition for bankruptcy and pay the filing fees to the federal bankruptcy court in your jurisdiction. Make sure that you also declare your income, all debts, and assets owned. After filing, the bankruptcy court shall issue an automatic stay order, which will halt all creditor collection activities. If you’re dealing with foreclosures or repossessions, you can get protection from an automatic stay. It will be illegal for any creditor to give you a call, email, or other demands. Your lenders will only be able to reach you through your bankruptcy attorney. If you have already filed for bankruptcy within the last 12 months, note that an automatic stay will not be put into place or will be limited.
Step 3: Attend a meeting with your creditors.
Sixty days after filing your bankruptcy petition, you will have to appear in a hearing called the 341 meeting of the creditors that will likely be in a meeting room. It will be attended by you, the trustee, your bankruptcy attorney, and creditors. However, it is rare for creditors to attend this meeting. Typically, the trustee will ask you questions to check the information you submitted in your bankruptcy petition.
Step 4: Take another debt counseling course.
After meeting with your creditors, you will need to take a second debt counseling course. This will help you understand your current finances and manage your debts moving forward.
Step 5: Wait for the court to confirm your eligibility for bankruptcy.
The court shall review your bankruptcy information along with any factors presented at the meeting of creditors. If you are filing for Chapter 7, the bankruptcy court will check that you passed the Means Test. But if you are filing for Chapter 13, then the bankruptcy court will review the total worth of your secured and unsecured debts to determine if you qualify.
Step 6: Have your debts handled by the court.
If you are deemed eligible for bankruptcy, the court shall handle your debts based on the chapter of bankruptcy you are requesting. If you are declaring Chapter 7 bankruptcy, the court may require liquidation of your properties to pay off creditors. But if you are declaring Chapter 13, bankruptcy, you will be asked to draft a proposed payment plan. In the end, the court shall require you to pay certain debts and discharge eligible debts.
Dischargeable vs. Nondischargeable Debts
Not all debts are discharged through bankruptcy. While certain types of debt are “dischargeable”, others are “nondischargeable.” Our Allmand bankruptcy lawyers can review your case to help you understand which types of debt you’re dealing with.
Can you completely wipe out your debts? Yes! As long as they fall under dischargeable debts through bankruptcy. Dischargeable debts include medical bills, credit card balance, personal loans, and utility bill debts.
Nondischargeable debt cannot be eliminated through bankruptcy, but you may be able to manage such debts by filing Chapter 13. Examples of nondischargeable debt include some tax debt, alimony, child support, and student loans.
Unsure of what to do with your debts? A Waco bankruptcy attorney can inform you of your legal options. If you find that bankruptcy is not the right choice for you, a bankruptcy lawyer from Allmand Law Firm can guide you through other alternatives, which may include debt consolidation, negotiating with creditors to decrease the debt amount, restructuring your loans, and more.
Begin Your Relief Process Today. Contact a Waco Bankruptcy Attorney
Don’t let your debt take over your life! Speak with our Waco bankruptcy attorneys who have more than two decades of experience in improving the financial conditions of families in Texas. We service clients throughout the entire Texas Area: Dallas / Fort Worth / Austin / El Paso / Midland / San Antonio / Waco and other areas.
Allmand Law offers financial empowerment sessions FREE of charge. What do you have to lose? Nothing! Schedule a financial empowerment session, today. At Allmand Law Firm, PLLC, our firm’s number one goal is to help residents get and stay out of debt. Let us help you get through your hardest times.
Areas Being Served in Waco, Texas
We help Waco families break free from debt and regain financial control. Our Texas bankruptcy attorneys provide debt relief options to distressed individuals and families residing in the following counties:
- Bell, Waco TX
- Bosque, Waco TX
- Coryell, Waco TX
- Falls, Waco TX
- Freestone, Waco TX
- Hamilton, Waco TX
- Hill, Waco TX
- Leon, Waco TX
- Limestone, Waco TX
- McLennan, Waco TX
- Milam, Waco TX
- Robertson, Waco TX
- Somervell, Waco TX