Frequently Asked Bankruptcy Questions
Bankruptcy is the process of liquidating one’s non-exempt assets to pay off creditors, or reorganizing one’s debts into a structured repayment plan. Bankruptcy is available to any individuals or businesses who are in debt and cannot afford to repay their creditors.
- What is Chapter 7 Bankruptcy?
In Chapter 7 bankruptcy, your non-exempt assets(if any)could be liquidated in order to repay your creditors. After filing for Chapter 7 bankruptcy, all of your dischargeable debts will be eliminated. However, it should be mentioned that not all debts can be eliminated. Types of debts that are not dischargeable through Chapter 7 include spousal support, child support, student loans, tax debts, and debts incurred from criminal penalties or personal injury damages.
- Should I file for Bankruptcy?
Deciding to file for a bankruptcy is a very personal decision, one that you need to make on your own. If you have questions or concerns regarding bankruptcy, Houston bankruptcy lawyer O. Miller White would be more than happy to meet with you during a free consultation to review your situation, answer any questions you may have, and address your concerns. If you decide to move forward and file for bankruptcy, Mr. White will be by your side every step of the way.
- Are there any benefits to filing for bankruptcy?
Yes, there are! After filing for bankruptcy you will no longer be subjected to creditor harassment, wage garnishment, and repossession. Furthermore, many people find that after filing for bankruptcy they no longer experience the stress, anxiety, worry, and frustration that often accompany having mounting debt and creditors breathing down their necks. Click here to learn more about some of the benefits of filing for bankruptcy.
- Is there a way to stop my creditors from continuing to harass me?
Yes. If you are being subjected to creditor harassment, you should contact attorney O. Miller White immediately. Your creditors will be prohibited from contacting you once you’ve filed for bankruptcy. Mr. White can help put an end to harassment, and protect you if your creditors attempt to contact you again in the future.
If you have any additional questions relating to bankruptcy, please do not hesitate to contact Houston bankruptcy attorney O. Miller White today at (281) 315-8810 to discuss your debts and financial situation during a free consultation.