Pelley Law Office LLP
Dallas Office
Plano Office
Sherman Office
214-733-1775
972-608-0335
903-813-4778

No Charge For Initial Consultation ($250 value)

Menu Contact

Over 80 Years Of Combined Experience

View Our Practice Areas

Bankruptcy Relief

Filing for protection under the bankruptcy code can provide debtors with a great deal of relief and a fresh financial start.  A Chapter 7 bankruptcy is available for debtors who pass the Means Test.  Most people do actually pass the Means Texas, even in Collin County Texas.  However, the Means Test is a two part test.  Most high income earners fail the first part of the Means Test in Collin County and other North Texas Counties.  The first part of the test compares what most families of the debtor's size make in Texas.  Most people make less than families do in North Texas.  However, there is a second part of the test.  The second part of the test compares your housing, utilities, and transportation guidelines to what the IRS says is normal for a family of your size.  Most people in Collin, Denton, Dallas, and Grayson Counties pass the second part of the Means Test.

If not, then Chapter 13 is available for those highest of income earners.  It is also helpful for people because most of the time credit card debt is discharged just as it would be in a Chapter 7 bankruptcy.  It is also helpful if you have IRS debt, are trying to avoid foreclosure or repossession.

No Comments

Leave a comment
Comment Information

Awards & Recognition

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Locations

Plano office
Sherman office
Dallas office

Plano Office
1312 14th Street, Suite 100
Plano, Texas 75074

Phone: 972-608-0335
Map & Directions

Sherman Office
905 North Travis Street
Sherman, Texas 75090

Phone: 903-813-4778
Map & Directions

Dallas Office
6060 North Central Expressway, Suite 602
Dallas, Texas 75206

Phone: 214-733-1775
Map & Directions