Deciding to file bankruptcy is stressful. A Dallas, Texas bankruptcy lawyer may help to relieve some of the stress by handling some of the necessary steps and laying out the process so you better understand what is going to happen from start to finish, and beyond.
If you’re considering filing for bankruptcy, it’s important to know you’re not alone. Thousands of people in the country file for bankruptcy every year, and for a variety of reasons. In fact, according to CreditCards.com, about 627,000 U.S. residents have filed for bankruptcy in just the first six months of this year. More than 24,000 of those cases were in Texas.
The top 10 reasons (in no particular order) people file for bankruptcy, either Chapter 7 or Chapter 13, include:
- losing one’s job;
- to prevent foreclosure on one’s home;
- to deal with expensive medical bills;
- to prevent seizure or repossession of one’s car or other property;
- to alleviate student loan debt payments (cannot be eliminated);
- to eliminate or alleviate an extensive amount of credit card debt;
- because of a failed small business or other venture;
- to stop creditor harassment;
- because of a recent divorce; and
- to prevent power, water or other utilities from being shut off.
If you’re considering bankruptcy as an option for your dire financial situation, speak to a licensed legal professional about your options first. Call 888-584-9614 to discuss your case with the Dallas Texas bankruptcy lawyers at Warren & Migliaccio, Attorneys at Law now. Read our FREE eBook today, What You Need to Know about Bankruptcy.