The ongoing economic crisis is being reflected in the personal bankruptcy status rate, which shows that more people are going this route in order to find relief from their financial troubles. To learn if this is the best option for your situation, you should consult with a Dallas, Texas Chapter 7 law firm.
A law firm can help you in a number of ways, from checking on your bankruptcy status to working with your creditors.
One of the concerns you may have is if your car will be repossessed, or will you be able to keep it after you’ve gone through bankruptcy. This will depend on whether or not you’ve been making payments.
If you haven’t been making payments, you may be able to keep it only if the value of the car is below the state’s vehicle exemption amount. If you’ve been making payments, then you can decide between continuing to make them and keeping the car or surrendering it. If you’re leasing your car, then you can either continue with the lease or reject it.
When you file for bankruptcy, an automatic stay can help protect you from lawsuits and other actions that may be taken against you. However, not everything is stopped under this. To learn what protections you may have, contact a Dallas, Texas Chapter 7 law firm.
Contacting a Dallas Texas Chapter 7 Law Firm
At Warren & Migliaccio, our goal is to protect you and your family so that you can take the necessary steps to proactively plan for your future. When financial circumstances outside of your control threaten your wellbeing, take control of your situation by contacting our Dallas law firm. We’ll guide you through the legal process so you can make informed decisions and choose the best course of action. If a personalized, teamwork-driven approach sounds like what you need for your case, call 1-888-584-9614 today. We’re here to help.
