Lawyers Handling Debt Reorganization in North Texas
When What You Need Most is Breathing Room
When most people think of bankruptcy, they are concerned about losing a business, personal assets or property. This is almost never the case. Our clients rarely lose an asset unless they simply wish to surrender it in order to get rid of the debt associated with the asset. For example, if you have a car and you owe $30,000 on the note, and the car is only worth $18,000, then you would have the opportunity to give the car back to the creditor and discharge the entire $30,000 rather that having an asset with $12,000 of negative equity. You certainly would not be required to do so. That is what is so beneficial about bankruptcy. If you want to keep an exempt asset, then you keep paying for it. If you do not want the debt, you can usually surrender the asset and discharge the debt. Either Chapter 7 or Chapter 13 will allow you to reorganize your financial situation and clear the path for your financial future.
A common misconception is that you have to pay back your credit card debt if you file a Chapter 13. To the contrary, almost all of our Chapter 7 and Chapter 13 clients pay back very little to none of their credit card and other unsecured debt.
At Pelley Law Office L.L.P., we have helped individuals, families and businesses in North Texas fix their financial crises and discharge overwhelming debt since 1974. One of our experienced attorneys will be glad to sit down with you and discuss your options in order to obtain a fresh financial start.
At the initial office consultation we will also discuss non-bankruptcy debt reorganization options. When you leave the free initial consultation, you will know all of your options so that you can choose how to proceed.
Plano Debt Relief Lawyers
We invite you to call Pelley Law Office L.L.P. at 903-813-4778 or 972-608-0335 to schedule a free confidential consultation with an experienced bankruptcy lawyer who can explain your bankruptcy as well as non-bankruptcy options. You can also contact us by e-mail now to request an appointment.
Questions? Feel free to visit our bankruptcy FAQs. To learn how we have helped clients in North Texas deal with overwhelming debt and other legal problems, please view our client testimonials.