Across the US, Chapter 7 is the most common type of bankruptcy case. Most people refer to a Chapter 7 bankruptcy as “debt liquidation” – but in many cases, you’re able to keep most of your property and possessions. Very few, if any, of your assets will actually be liquidated and applied to the debt. More often than not, people in Plano come through the other side of their Chapter 7 bankruptcy case completely debt-free and with most of their assets still intact.
We’ve helped thousands of Plano and greater DFW-area residents with Chapter 7 cases throughout the years, and it truly is an amazing tool that will help you get a fresh start if you’re struggling with out-of-control debts.
The attorneys at Rubin & Associates specialize in bankruptcy law – but more importantly, our team truly cares about our clients. Many of the other Plano bankruptcy lawyers stack up cases and treat clients like just another number. We know that bankruptcy is stressful and scary, so we take the extra time to make sure that you understand all of your options, so you can make the best choice to move forward.
Do you qualify for Chapter 7 bankruptcy?
It’s best to speak to one of our attorneys for a definite answer, but in general, qualification for a Chapter 7 bankruptcy in Plano is determined by your total income and expenses. If your total household income is greater than the median income for the State of Texas, it is considered an abuse to file Chapter 7 (unless there are mitigating circumstances to justify filing the case). Don’t worry though – if you do not qualify for Chapter 7, a Chapter 13 bankruptcy is still an option for you.
Which debts will Chapter 7 bankruptcy help with?
A Chapter 7 bankrutpcy impacts secured and unsecured debt differently, so again, it’s better to call us for a free consultation so we can explain everything to you. Chapter 7 allows for the “discharge” of the majority of the debts that most people are faced with. It easily eliminates most credit card debt and medical debt. A Chapter 7 bankruptcy will not discharge student loans, past-due child support, and a few other odd exceptions, but most people find that it is much easier to make payments once other debts have been discharged.
Call us or text us today for a free, no-obligation consultation. One of our attorneys will work with you to gather details about your financial situation and then walk you through every available option. Let us help you get back on the path to financial freedom!
“My only regret is that I did not come to you sooner. I have a new start in life. I am no longer stressed and ashamed. I was at my lowest point when I came to you. You didn’t judge me or make me feel worse; you lifted a burden and helped me to hold my head high again. I sincerely thank you. ”
“I can highly recommend the firm of Rubin & Associates, PC, in resolving any debt problems that anyone might be having. In my initial meeting with Mr. Rubin, he explained the bankruptcy process very clearly and thoroughly. Even though this was a very difficult time, Mr. Rubin and his staff made it as smooth a transaction as possible.”
“Rubin and Associates was truly truly wonderful. So helpful from the very first day to the very end when I got my discharge. I was in between a rock and hard place, I felt trapped financially, but everyone at the firm was there for me. I can’t give enough thanks to Rubin and Associates. Calling them was the best call I’ve ever made.”