Stallings Consumer Bankruptcy
Stallings Consumer Bankruptcy can reduce or eliminate debts by ensuring equality among insolvent individuals’ creditors, which will preempt foreclosure and personal property loss, remove tax debts and lower monthly bill payments.
Attorney R. Michael Stallings can help you reconstruct a solid financial foundation.
Filing for Bankruptcy in Texas
Provided the attorney receives all necessary documents from the client, bankruptcy can be filed soon after the initial consultation. Creditors’ harassing telephone calls, wage garnishment and repossession activities will cease, and foreclosure danger will be thwarted. Leave the office feeling a renewed sense of freedom.
Reducing Debt & Keeping Property
Stallings Consumer Bankruptcy aims to reduce debts, ensure clients maintain residences, vehicles and other personal possessions, and have hope for a better financial future.
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy removes debts, immediately ends creditor harassment, wage garnishment, suits and more, and allows people to generate a new financial start. Certain non-exempt assets may be sold to settle creditors’ debts.
Individuals must meet certain requirements for Chapter 7 bankruptcy. At times, Chapter 13 Bankruptcy may be more suitable.
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy reorganizes debt by establishing a manageable repayment program for a portion of the debts owed, typically spanning three to five years.
Chapters 7 and 13 Bankruptcy typically allow for residential protection against foreclosure. Stallings can make the most of Texas’s $50,000 homestead exemption, the home equity amount that is exempt from creditors, and reaffirm existing mortgages so clients can keep their homes.
Filing bankruptcy immediately ceases repossession efforts. In addition to repossession prevention, interest rates and monthly payments can be reduced. Recently repossessed vehicles can often be returned to the client debtor.
Student Loan Debt
Chapter 13 Bankruptcy can substantially lower monthly student loan payments without causing penalties. However, student loans may only be discharged in extraordinary circumstances. Regardless of whether student loans can be discharged, the firm can help people efficiently deal with debt burdens.
Illnesses and accidents can create huge, unmanageable debts. Those who have outstanding medical bills may be eligible to lower or even eliminate these unsecured debts. And keep in mind, filing bankruptcy does not affect an individual’s ability to receive medical care.
Seeking help can be intimidating to those who don’t speak English. Stallings has a native Spanish-speaker on staff who is happy to interpret for his clients.