What To Expect If You File For Bankruptcy in Duncanville, Texas
If you have more money going out than coming in, or you find that your cash flow is severely impaired, you are probably experienced a very stressful situation.
If you have absolutely no way of repaying, then bankruptcy is a realistic and viable option. You may have tried everything; negotiating with your creditors, taking a second job and cutting your expenses. What if none of these options seems to work?
If you can’t find the answer on your own, or simply can’t see a way out of your financial quagmire, then you should seek the advice of a knowledgeable bankruptcy attorney like Allmand and Lee, a Duncanville bankruptcy attorney with a combined 20 years’ experience.
Once you file for bankruptcy, it will be reflected on your credit history for a period of up to 10 years. But there are a more things you should expect if you are thinking of filing for bankruptcy.
Determine Your Financial Situation
First and foremost, you have to be completely accurate with the details about your financial situation. You will have to be entirely honest about the financial facts when you meet with us.
Allmand and Lee has successfully handled hundreds of bankruptcy cases. We know that sometimes people fall on hard times due to no fault of their own, and we are committed to handling each case in a courteous, professional and non-judgmental manner.
Most importantly, our firm specializes only in bankruptcy cases – and we are committed to giving your case the personalized attention it deserves.
The Details
Once you file for bankruptcy, you may not be allowed to keep all the credit cards unless they have been fully paid off. In the months immediately following the filing, you may also have trouble in getting a mortgage, loan or new credit cards.
When you file bankruptcy, it is important to note that all debts cannot be discharged. In spite of the filing of bankruptcy, you will have to pay debts such as child support, student loans and back taxes.
The Upside
After you have paid off your creditors and the bankruptcy is dismissed, you will probably be able to reestablish credit. Generally, when you have filed Chapter 13 bankruptcy, which is for reorganization, and your creditors have been paid, you can apply for a loan.
Many of our clients find their financial situation to be greatly improved in the 6 months to 2 years following the bankruptcy filing.
Reestablishing Your Credit
Apply for a new secured credit card. Pay the bill fully and on time, which will show your creditors that you are now successfully maintaining your finances.
To help you reestablish your credit more quickly, you can get reference letters from your creditors, which can help prove to new potential lenders your credit worthiness. Stay away from lenders who may offer you a loan to pay off old creditors – this will only add on to your existing debt.
If you find that you need to file bankruptcy, you don’t need to be embarrassed or ashamed. Rather, you are to be commended for having the courage to make a decision to improve your financial life.
Allmand and Lee has helped hundreds of clients get their financial lives back on track. To find out how we can help you, give us a call at 214-265-0123, or fill out our 
. Together, we can help you get a fresh start.
Topic: Duncanville, Texas Bankruptcy Lawyers
City of Duncanville, Texas203 E. Wheatland Road
P.O. Box 380280
Duncanville, TX 75138-0280