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Dallas Bankruptcy Lawyer
There is a common misconception that those who file bankruptcy are somehow getting away with something. While this is true in a few rare circumstances, the great overwhelming majority of bankruptcy clients who file to receive protection are looking at bankruptcy as a last resort. They have often struggled, scrimped, and limped by trying to make things work financially until they finally throw in the towel.
Our Dallas bankruptcy lawyer Richard Weaver understands how families can be terribly affected by medical problems. With medical problems rated as the number one reason to file bankruptcy, it is common for the bills themselves to rack up. Additionally, there is the impact on the earning capacity. Even on top of the medical bills, there is the inability to earn money due to being down and out for the count. Even when coming back to work, there are often major restrictions on the ability to work. For example, if you are able to work, you might be forced to be put on light duty, or simply incapable of performing certain duties.
Pros vs Cons of Bankruptcy
Filing bankruptcy has many benefits:
- Eliminate Debt such as credit cards, medical bills, payday debts, personal loans, collections, old repossessions, and more
- Stopping credit card balances from growing and becoming more and more out of control.
- Elimination of huge balances on payday loans which simply cannot ever be paid off. Most payday loan companies do not want the loan to be paid off. They want it to be constantly renewed and refinanced in such a way that they eventually default, but not before the payday company has extracted simply the most amount of money out of this poor payday client that they could.
- Elimination of a car payment
- Catching up a car though a chapter 13 repayment
- Stopping foreclosure, keeping the home, and catching up mortgage arrears through Ch. 13 bankruptcy
Yet bankruptcy does not make sense in all situations. Some issues point to choosing a non-bankruptcy option. Some of the things to consider include credit impact, feasibility of the Ch. 13 plan being successful, or considering whether there is not enough debt for a person to file bankruptcy.
If you are a person who is wondering whether you could receive relief through bankruptcy, call our office for a free bankruptcy consultation. The law firm is available 24 hours/day. Our bankruptcy attorney in Dallas welcomes clients in Dallas, Fort Worth, Plano, Arlington, Irving, and other surrounding communities to contact us today for information about whether bankruptcy or another option as an alternative to bankruptcy could eliminate or ease your debt burdens.