How to File Bankruptcy in Texas? Free Tips Here

by Dori Tery on May 28, 2013

Tips for File Bankruptcy in Texas

Your deep knowledge of the Act Means test is an imperative step to filling bankruptcy in Texas. This is due to the fact that the Act takes into consideration your general financial competence, income as well as general expenses. All these are what you will have to put together to determine the type of bankruptcy Chapter you will file. However, it is recommended that you opt for Chapter 7 if your income is below the median. However, in a situation where you cannot pay a minimum amount of $100 on a monthly basis out of the debts you are owing within a five year duration (although averages differ for each state), it is possible for you to file for Chapter 7 Texas bankruptcy.

Another way you can file bankruptcy in Texas if you do not meet the payment of a minimum of 25% of your debt, you can file Chapter 7 bankruptcy. However, this is after the total amount of your unsecured debts like medical bills and credit cards must have been determined. Nevertheless, be certain that you update your petition paper and at the same time collect and collate all financial transactions you have engaged in for the last 48 months, your financial profile, list of your living expenses, your current income and where you get it from, secured and unsecured debts, tax income documents, feasible properties and possessions, tax income documents, mortgages and loan papers before you file bankruptcy in Texas.

As soon as you have finished this process, the next thing you have to do is to identify those items or property that you think that are not liable under Texas exemptions. You can do the filling of bankruptcy in Texas yourself at the Texas district bankruptcy court in your jurisdiction or seek the service of your legal counsel. It is after this that you will have your forms and papers assesses bearing in mind that any misrepresentation may dismiss your petition straightaway. If you are filling Chapter 7 bankruptcy, the cost cannot be more than $300 which you can pay in piecemeal. On the other hand, if you file a petition under Chapter 13 bankruptcy, you will pay less than $200.

Tips to find Attorney for Bankruptcy in Texas

You should determine the quality of the Attorney you want to represent you; you will prefer a correct one. Hence, hire;
– An experienced Texas Bankruptcy Attorney
– The lawyer who have deep knowledge of Texas and Federal bankruptcy laws.
– A lawyer with cheap legal fee
– An Attorney with excellent advice and good judgment
– An Attorney of good conduct and personality that you can be comfortable to work with for more than a few months of your bankruptcy case.
– Get in touch with your friends, colleagues and members of your family if any of them can suggest a sound Texas Bankruptcy to you.
– You can as well go to internet forums to find Attorney in Texas.

bankruptcy in TexasDon’t forget that you must submit your payments plans of your debts when you are filing bankruptcy in Texas under chapter 13. This should contain the way the payment is shared among diverse creditors including the total amount of the required for this, excluding your living expenses. The above tips are also applicable to Chapter 7 bankruptcy Texas and Chapter 13 bankruptcy Texas.

 

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