Bankruptcy Attorney in Killeen, TX

If you live in Killeen and are struggling to regain control over an unmanageable amount of debt, there’s a good chance that you have already considered bankruptcy as a possible solution. Before you do anything, however, you should know exactly what bankruptcy will mean for you and how making use of this process may affect you in the future.

Filing for Bankruptcy in Killeen

As an experienced bankruptcy attorney operating out of Killeen, I know just how confusing bankruptcy can be for people struggling with debt. To help people who are unfamiliar with the four forms of bankruptcy that may be available to them, I have collected the following brief descriptions to help people in Killeen choose the form of bankruptcy that is best suited to their own situation:

  • Chapter 7—This form of bankruptcy may be used to eliminate unsecured debts, such as those carried on credit cards. Bearing that in mind, the slate is essentially wiped clean under Chapter 7 and only student loans, child support payments, and recent debt to the IRS may not be able to be discharged. As long as you stay current on your payments to creditors, you should easily be able to keep your house and car after filing for this form of bankruptcy.
  • Chapter 11—This is the form of bankruptcy typically chosen by business owners. Critically, business owners who file for financial relief under Chapter 11 will be able to keep their business up and running while they reorganize and repay their debt. As such, this might be the right choice for business owners in Killeen with significant income and assets.
  • Chapter 12—This form of bankruptcy is the way to go for people with family-owned farms and fishing operations. Chapter 12 is meant to deal with greater debts than Chapter 13 and it is also less complicated and less expensive than Chapter 11.
  • Chapter 13—This form of bankruptcy is often described as the “wage earner’s bankruptcy” since it is specifically designed to help people with regular income. Though Chapter 13 will not allow people to simply get rid of their debts, it does allow people to make payments—which are often at a reduced rate—over a greater period of time. Additionally, Chapter 13 can be helpful for people with homes in danger of foreclosure; foreclosure sales will be halted and homeowners will be given up to five years to repay missed mortgage payments—without late fees and interest—once they are granted Chapter 13 protection.

Whatever your financial circumstances happen to be, our Killeen legal team can help you choose the course of action that will be right for you.

Contact our Legal Team in Killeen

If you live in Killeen and are struggling with unmanageable debt, take the first step towards financial freedom and call my office today. When you work with me, you can rest assured that you will be represented by someone who understands exactly what you are going through for two good reasons: I have over 30 years of expensive practicing law and my practice is exclusively dedicated to bankruptcy law. To reach me, you can call my Killeen offices at (254) 296-1161.