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How Do I Know When Filing for Bankruptcy Is My Best Option?

April 17th, 2020 at 4:21 pm

Texas bankruptcy lawyer, TX chapter 7 attorneyBankruptcy can be a scary word and it can be even scarier if it is something you have been considering. Bankruptcy is still considered by some to be a taboo or something to be avoided at all costs. In reality, bankruptcy can be the best option for some people who are drowning in debt. Filing for bankruptcy does come with a few unfavorable consequences, which should be factored into any consideration when determining whether or not to file for bankruptcy. Speaking with a skilled Texas bankruptcy lawyer can help you understand your situation a little better.

To File Or Not to File?

It can be confusing to know whether or not you should file for bankruptcy. Every person’s situation is different, which is why every decision to file for bankruptcy is different. For the most part, you should consider filing for bankruptcy if you are unable to repay your debts after you have paid for necessities such as food, living expenses, and healthcare. However, there are a few other situations in which you may also want to consider filing for bankruptcy:

 

  • You have considered debt consolidation. There are steps that you can and should take before making the decision to file for bankruptcy. If you have a lot of debt that carries high-interest rates, you should look into consolidating some of your debt at a lower interest rate. In many cases, this lowers the monthly payment and allows you to get a handle on your debt. However, if you still cannot afford the consolidated payment, you may want to look into bankruptcy.
  • Your credit score is already low. Many people say that the only thing stopping them from filing for bankruptcy is the fact that your credit score and creditworthiness are impacted. However, if you already have a low credit score, you may be better off filing for bankruptcy and working on building your credit up.
  • You are at risk of losing your car or home. If you are behind on mortgage payments or car payments, you risk having your property foreclosed on or taken from you. When you file for bankruptcy, the automatic stay is put into place which prevents any and all debtors from collecting from you while your bankruptcy case is processed. The automatic stay does not protect your home and vehicle forever, but it can be useful to help you get back on track after a bankruptcy.

A Kerrville, TX Bankruptcy Attorney Can Help You Assess Your Situation

If you are wondering if filing for bankruptcy could be right for your situation, you should speak with a skilled San Antonio, TX bankruptcy lawyer today. At the Law Offices of Chance M. McGhee, our team is here to help you determine whether or not filing for bankruptcy is in your best interest and if so, the right bankruptcy for your situation. Call our office today at 210-342-3400 to schedule a free consultation.

 

Sources:

https://www.nerdwallet.com/blog/finance/bankruptcy-best-option/

https://www.fool.com/investing/general/2014/01/26/how-to-know-when-bankruptcy-is-your-best-option.aspx

Top Things You Should Know About Declaring Bankruptcy

March 12th, 2020 at 3:11 am

TX bankrupcty lawyers, TX chapter 7 lawyersBeing in debt can feel like you are drowning, especially if you are so far into debt that you do not see a way out. Whatever the reason for the extreme amount of debt, there are options that you can consider to help with the debt. For many people, bankruptcy can be the right option to relieve them of most, or even all of their debt. However, filing for bankruptcy is not easy and can actually be quite complicated and confusing. Each bankruptcy case is different, so it is not always simple for you to know what to expect after you declare bankruptcy. Here are a few things you should know if you are considering filing for bankruptcy.

Bankruptcy Does Not Happen Overnight

Some people think of bankruptcy as being similar to small claims court where you usually receive your disposition the same day you attend court. This is not the case. The bankruptcy process is complex and typically lasts at least a few months if you file for a Chapter 7 bankruptcy. If you file for a Chapter 13 bankruptcy, the case is open and ongoing for three to five years, the duration of your repayment plan.

Not Everyone Qualifies for Bankruptcy

Not just anyone can get a bankruptcy. Especially for a Chapter 7 bankruptcy, there are certain requirements that you must meet, such as being below a certain income level and passing the means test. The means test is a way of determining your monthly income and expenses to figure out how much disposable income you have each month.

If You Do Qualify, Not All Debts Are Eligible to Be Discharged

Another misconception that people have is that they will be completely free of debt once they have filed for bankruptcy. This depends on a couple of things. First, it depends on the type of bankruptcy you file and second, it depends on the type of debt you have. Most unsecured debt will be discharged in a Chapter 7 bankruptcy, such as credit card debt. However, student loan debt, federal, state and local taxes, alimony and child support debt cannot be discharged or forgiven in bankruptcy.

Your Bankruptcy Will Affect Your Credit

Though bankruptcy can have a huge effect on your life, perhaps one of the most prominent effects is what bankruptcy does to your credit. After a Chapter 7 bankruptcy is finished, it will be reported on your credit report and will stay there for up to 10 years. Most creditors will shy away from loaning money to someone with bankruptcy, so it may be hard for you to open a credit card, take out a mortgage or buy a car.

A New Braunfels, TX Bankruptcy Attorney Can Help

If you are unsure of whether or not bankruptcy is right for you, you should talk with a skilled San Antonio, TX bankruptcy lawyer. At the Law Offices of Chance M. McGhee, we can help you understand all of your options available to you to manage your debts. We can also help you make the right decision about what is best for you and your family’s situation. To schedule a free consultation, call our office today at 210-342-3400.

 

Sources:

https://www.thebalance.com/top-things-to-know-about-bankruptcy-316198

https://www.thesimpledollar.com/credit/bankruptcy/what-to-expect-when-filing-for-bankruptcy/

 

Can I Keep My Car if I File for a Texas Bankruptcy?

February 28th, 2020 at 10:10 pm

bankruptcyFor most people in the United States, owning a vehicle is a necessity that allows them to get to work, go to school or even just go about their daily lives. Because of this, those who are struggling to make car payments or who are aiming to file for bankruptcy tend to be worried about whether or not they can keep their vehicle. For most people, keeping your vehicle after a Texas bankruptcy is entirely possible, though it depends on whether or not you are still making payments on your car and what type of bankruptcy you file.

Understanding Secured Debt

The first thing you should understand is that your car loan is a secured debt, which is unlike other types of debt such as credit card debt. A secured debt is one that is backed by physical property used as collateral, such as a vehicle. If you stop paying on your secured debt, your lender has the right to repossess your property.

If you file for a Chapter 7 bankruptcy, you must include all of your assets and debts, including your vehicle, even if you plan to still make payments after the bankruptcy. If you file a Chapter 13 bankruptcy, you can continue to make payments under your current plan, include your car payment into your monthly bankruptcy payments or work out a “cramdown” agreement which allows you to keep your vehicle.

Options for Dealing with Your Vehicle

For the most part, there are three choices when it comes to dealing with your vehicle during your bankruptcy: you can stop making payments on your vehicle, sign a reaffirmation agreement or you can redeem your car.

If you take no actions on your car loan when you file for bankruptcy, you are technically relieved of your obligation to repay your car loan afterward, but bankruptcy cannot remove the right of the lender to repossess your property. So, if you stop making payments on your car after your bankruptcy, you will lose your vehicle.

You can keep your vehicle if you either reaffirm or redeem your car. Reaffirming your car is basically just resigning a loan agreement to keep paying off the remaining balance of your auto loan. Typically, the terms of the reaffirmation agreement are the same as the terms of your original loan unless you can renegotiate better terms, such as a better interest rate.

Redeeming your vehicle will also allow you to keep it and is an especially attractive option for those who owe more on their car loan than what their vehicle is worth. Redeeming your vehicle allows you to purchase your car outright for the current retail value, though it can be difficult for some to come up with a large amount of money all at once.

A Boerne, TX Bankruptcy Attorney Can Help You Keep Your Vehicle

If you are filing for a Texas bankruptcy and you are concerned about whether or not you will be able to keep your vehicle, the best thing to do is to contact a knowledgeable San Antonio, TX bankruptcy lawyer. At the Law Offices of Chance M. McGhee, we can help you understand your rights when it comes to bankruptcy exemptions and your vehicle. Call our office today at 210-342-3400 to schedule a free consultation.

 

Sources:

https://upsolve.org/learn/can-keep-car-file-bankruptcy/

https://upsolve.org/learn/what-happens-to-my-car-loan-after-bankruptcy/

 

When Should I Delay Filing for Bankruptcy?

October 31st, 2019 at 7:14 pm

bankruptcyDeclaring bankruptcy can get you out of a less-than-favorable financial situation when you are in need, but your circumstances will dictate which type of bankruptcy you are eligible for and how much the bankruptcy will help you. Once you have figured out that you want to file for bankruptcy, you must then determine when your most opportune time to file is. In certain situations, you may want to delay filing for bankruptcy. Delaying your bankruptcy can sometimes allow you to keep more of your money, protect a friend or family member’s money or even increase your chances of qualifying for a Chapter 7 bankruptcy. Here are a few situations in which you may want to consider delaying filing for bankruptcy.

You Paid Money Owed to a Family Member Too Close to Filing

If you pay certain creditors $600 or more prior to receiving a discharge, your bankruptcy trustee could demand the money back from the creditor. This is called a preference because you have put that creditor in a better position than your other creditors. The preference period for most creditors is 90 days prior to filing for bankruptcy. For “insiders,” such as friends or family members, the preference period is one year prior to filing for bankruptcy.

You Recently Transferred or Gifted Money or Property to Someone

If you give away or gift property or money and get nothing in return, you could also face allegations of fraudulent transfer. Even if the property or money was a gift given with good intentions, you can still face these allegations if you file for bankruptcy less than two years after you give or transfer the property or money.

Your Income Has Decreased or You Expect Your Income to Decrease

If you want to file for a Chapter 7 bankruptcy, you will have to pass what is called the means test. The means test compares your income to the median income in your state. If you fail the means test, it will be extremely difficult for you to qualify for a Chapter 7 bankruptcy, if you can even qualify at all. If you know that you currently make too much to qualify, but that you will not be making as much in the future, you should wait to file for bankruptcy.

Our New Braunfels, TX Bankruptcy Attorney Can Advise You When to File

Like many things in life, timing is everything when it comes to bankruptcy. Even just a few days’ time can mean the difference between discharging certain debts and being forced to repay them. If you are unsure of when the best time to file for bankruptcy is, you should contact our skilled San Antonio, TX bankruptcy lawyer today. At the Law Offices of Chance M. McGhee, we will examine your case and advise you as to when you should file for bankruptcy so you can benefit from it the most. Call our office today at 210-342-3400 to schedule a free consultation.

 

Sources:

https://www.thebalance.com/what-is-chapter-7-bankruptcy-316202

https://www.law.cornell.edu/uscode/text/11/547

https://www.law.cornell.edu/uscode/text/11/548

Which Type of Bankruptcy Is Right for Me?

August 19th, 2019 at 2:15 pm

bankruptcy-typeIn the United States, there are many different types of bankruptcies, some being for businesses, government sectors or individuals. If you are an individual filing for bankruptcy, the two most common types of bankruptcies that are filed are either Chapter 7, which is a liquidation bankruptcy, or Chapter 13, which is a reorganization bankruptcy. Each type of bankruptcy has its advantages and disadvantages, along with different sets of criteria to qualify for each type of bankruptcy. If you are unable to pay your bills each month or you are struggling to make ends meet, bankruptcy may be in your best interest. Choosing the right type of bankruptcy for your situation can be the key to your financial success.

Chapter 7 Basics

A Chapter 7 bankruptcy is also known as liquidation bankruptcy. This is because all of your “unnecessary” assets will be liquidated to help pay off some of your debts before your debts are forgiven. Most unsecured debts, such as credit card debt, will be discharged in a Chapter 7 bankruptcy, meaning you will no longer be responsible for paying them. It takes roughly three to four months to complete a Chapter 7 bankruptcy, which is a relatively short time frame.

To qualify for a Chapter 7 bankruptcy, you must pass a means test, which is a test that is used to determine whether or not you are actually able to repay your debts. If you pass the means test or your income is less than the median income level for Texas, you will most likely qualify for a Chapter 7 bankruptcy. If you earn too much, you may be denied.

Chapter 13 Basics

A Chapter 13 bankruptcy is known as reorganization bankruptcy because your debts will be reconfigured into affordable monthly payments. This type of bankruptcy allows you to repay some or all of your debts over the course of three or five years, depending on your income. At the end of the repayment period, the rest of your unsecured debts will be discharged. Chapter 13 bankruptcies allow the person filing to keep all of their property, even property that is deemed to be a “luxury” item in Chapter 7 bankruptcies.

Those who earn too much income to qualify for a Chapter 7 bankruptcy may qualify for a Chapter 13 bankruptcy. Most people who have regular monthly income can qualify for a Chapter 13 bankruptcy because there are no income requirements. However, a person must have less than $419,275 in unsecured debt and less than $1,257,850 in secured debt.

Unsure of Which Type of Bankruptcy You Should Go With? Contact a New Braunfels, TX Bankruptcy Lawyer

Filing for any type of bankruptcy has consequences that you must deal with after everything is said and done. Though these consequences sometimes differ depending on the type of bankruptcy you choose, they can still affect your life. If you are wondering which type of bankruptcy would be best for your financial situation, or if you should file for bankruptcy at all, a skilled San Antonio, TX bankruptcy attorney can be an invaluable asset. Contact the Law Offices of Chance M. McGhee today to see how we can help you find solutions for your debt. Call our office at 210-342-3400 to schedule a free consultation.

 

Sources:

https://upsolve.org/learn/every-type-of-bankruptcy-explained/

https://www.credit.com/debt/filing-for-bankruptcy-difference-between-chapters-7-11-13/

Which Bankruptcy Option Eliminates All Debt?

September 30th, 2018 at 5:39 pm

debtOne enticing benefit to filing for bankruptcy is the ability to discharge debts, enabling a fresh financial start. The United States bankruptcy code was created to allow honest debtors to free themselves from insurmountable debt; however there are various limitations. Unfortunately, these limitations restrict which debts become eliminated, reduced, or remain the same. Therefore, regardless of whether you file for Chapter 7 or Chapter 13 bankruptcy, some outstanding debts are untouchable.

Which Debts Are Eliminated?

Which debts discharge relies heavily on the type of bankruptcy filed by the consumer. Chapter 13 bankruptcy does not eliminate any debt initially, yet restructures the current sums into an affordable repayment plan. This repayment plan typically lasts three to five years, at the end of which any eligible debts are discharged. When you file for Chapter 7 bankruptcy, any unsecured loans become eliminated immediately. In some instances, unsecured debts make up all of the financial burdens. These debts include:

  • Credit card debt;
  • Personal loans;
  • Medical bills;
  • Payday loans;
  • Older tax debts;
  • Utility bills; and
  • Second mortgages.

Secured Debts Are Non-dischargeable

Chapter 7 bankruptcy does provide significant relief regarding secured, non-dischargeable debts, aside from freeing up a portion of the budget to make regular payments. Alternatively, Chapter 13 includes all financial liabilities in the repayment plan, including secured loans. Non-dischargeable debts include:

  • Taxes within the last three years;
  • Child support payments;
  • Alimony or spousal support obligations;
  • Student loans;
  • Traffic ticket fines;
  • Criminal restitution; and
  • Secured debt on a home or car you plan to keep.

Contact an Attorney

These guidelines are general statements intended to help you determine if bankruptcy may help your situation. Each consumer bankruptcy case depends on a variety of individual factors. Therefore, if you think bankruptcy is right for you, you should discuss your unique circumstances with a proven Boerne bankruptcy attorney. Contact the Law Offices of Chance M. McGhee for a free case review today by calling 210-342-3400. Our experienced team will assess the details of your case and provide honest feedback about the best course of action for your financial future.

 

Sources:

http://www.uscourts.gov/services-forms/bankruptcy

http://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics

 

Foreclosure: Will the Bank Take My Home if I Miss a Payment?

September 19th, 2018 at 5:44 pm

Texas bankrutpcy lawyer, Texas chapter 7 attorneyConsumers who struggle to make monthly mortgage payments quickly become overwhelmed with collection calls and letters plaguing the mailbox. Fight or flight instincts immediately kick in, and most people choose to ignore the lender’s collection efforts. Many automatically assume that the bank immediately wants their home and retreat into self-preservation efforts. The truth is, the bank does not want your house. Lenders want you to pay the mortgage, and in most cases, if they can help you make that payment and save your home, they will. If the mortgage lender fails to reach an agreement with the borrower, imminent foreclosure efforts can stay through a bankruptcy filing.

Why Will the Bank Help?

The home you live in belongs to your mortgage lender. When you purchased, they assumed the cost of the home for you with the agreement that you would pay monthly payments until the loan is repaid in full. Until that day, the house belongs to the mortgage company. While they will not typically help someone with no potential benefits for themselves, they also are not in the business of buying and selling real estate either. If lenders must take a house in the foreclosure process, not only do they lose out on the money they would make in your interest payments, they also must pay the legal costs for the foreclosure process and the costs to sell the home, typically for less than the original amount. Lenders ultimately prefer to salvage the mortgage agreement, either by extending the loan or lowering the interest rate. If their borrower fails to communicate, this option is null, and the lender must begin foreclosure proceedings.

Bankruptcy or Foreclosure?

For your lender to recuperate some of their costs, they must have the title “free and clear,” which means they must have possession of the property. You can choose to allow the bank to go through a lengthy foreclosure process or opt to surrender the home through bankruptcy. A foreclosure enables the bank to remove you from your home, sell it for as much as they can make, and still hold you liable for any outstanding balances on the house. Foreclosure does not ensure an end to the collection calls. If you decide to file for Chapter 7 or Chapter 13 bankruptcy, both of which enable you to settle your debts often for pennies on the dollar, an automatic stay immediately halts all collection efforts, including from lenders. This momentary pause in a foreclosure process is sometimes all a family needs to earn enough money to save their home. Otherwise, if you do relinquish your home in bankruptcy, any liability is fully released. The bank cannot contact you if they lose money in the sale of the house.

Contact an Experienced Attorney

Attorneys are as unique as the fields in which they specialize. Like you would not hire a foot doctor for brain surgery, hiring a criminal attorney will not guarantee the best results when you face financial struggles. If you are having a hard time making your payments and are concerned about the future of your home, a New Braunfels bankruptcy attorney can help you get the answers you need. The Law Offices of Chance M. McGhee dedicates 20 years of experience to help you achieve financial freedom. Find out how we can assist you today by calling 210-342-3400 to schedule your free initial consultation.

 

Sources:

https://www.streetdirectory.com/travel_guide/63141/real_estate/why_the_bank_does_not_want_your_house.html

https://www.thetruthaboutmortgage.com/foreclosure-help/

 

Lawsuit Highlights the Issues with Debt Settlement Services

August 27th, 2018 at 4:44 pm

Texas bankruptcy lawyerRecently, the Consumer Federal Protection Bureau (CFPB) initiated a lawsuit against the nation’s largest debt settlement services provider, Freedom Debt Relief. According to the claims, this formerly well-regarded company was not telling the truth as far as their fees and the reach of their capabilities. Unfortunately, this is not the first, nor the last debt settlement company openly deceiving clients to earn their trust and boost their profits. These are a few of the top complains that surfacing from the litigation.

Debt Settlement Promises Are Misleading

Clients complain that Freedom Debt Relief led them to believe that all of their debts were negotiable and would settle within months. Unfortunately, debt settlement services do not have the capabilities of stopping collection attempts. Therefore, many clients continued experiencing harassing phone calls, emails, and postal collection attempts, many of which went further into collections or resulted in judgments. Filing for bankruptcy is the only method that places an automatic stay on all collection attempts; meaning, foreclosure, repossession, and harassment all must come to an abrupt stop.

Clients Experienced Deceptive Practices

Many customers claim Freedom Debt Relief verbally agreed that they would negotiate all of their debts; yet, sources show the company had prior knowledge that several companies already refused to consult with their company, regardless of the client. In the debt settlement options, creditors examine each offer on a case-by-case basis and choose whether or not to negotiate. Bankruptcy does not give any creditor the authority to refuse, except on disallowable debts. If your debt is not allowed in the bankruptcy, your attorney will let you know before beginning the filing process.

Freedom Debt Relief Lied About Fees

All debt settlement companies receive payment based on the portion of any amount they convince a creditor to forgive or reduce. One of the significant complaints emerging from the lawsuit was customers realized the company assessed additional fees, including when a creditor voluntarily gave up collection attempts without Freedom’s involvement. Debt settlement services nickel and dime their payments, making it impossible for clients to know how much they should expect to pay the company. Attorney Chance M. McGhee lets each of his clients know how much they can expect to spend, leaving little room for surprises.

Get the Reliable Results You Need

A significant number of bankruptcy filers began by trying debt settlement first. Unfortunately, the complaints are consistent, regardless of their chosen company: the process takes too long and ultimately costs too much. If you decide to file for Chapter 7 or Chapter 13 bankruptcy, you will see results in months, not years. A Schertz, TX bankruptcy attorney will give you honest representation with no hidden surprises. Law Offices of Chance M. McGhee has decades of experience assisting clients through the bankruptcy process and earning them the financial freedom their families needed. Let us earn your trust today. Call us at 210-342-3400 to find out how bankruptcy can benefit your family in a free no-obligation consultation.

Source:

https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-freedom-debt-relief-misleading-consumers-about-its-debt-settlement-services/

Small Business Bankruptcy in Texas

July 16th, 2018 at 11:52 am

bankruptcyThe modern business world is tough, especially for smaller firms. If your small business has run into serious financial distress, you are far from alone. Right now, it may be time for your company to review its available options, to work towards shedding or restructuring some of that overly burdensome debt. Bankruptcy is one option that is on the table for your company. However, it is certainly not the only option and it is not always the best option. Here, our experienced San Antonio business bankruptcy attorneys offer tips for weighing whether or not it is time for your small business to file for bankruptcy protection.

Know Your Situation, Know Your Finances

When your business is facing financial distress, it is time to take a very hard look at the books. You need to know your finances, your assets, your debts and your projected future revenue like the back of your hand. Indeed, the key to making the best possible decision is knowing the true financial standing of your company. It is imperative that you enter the debt restructuring process with full knowledge and a clear head.

Always Consider Non-Bankruptcy Options First

Filing for business bankruptcy is a big step. It is neither right nor necessary for every financially distressed Texas small business. Our firm focuses on helping businesses find the best available solution for their individual needs. We always carefully consider all available non-bankruptcy options first. Your company may be able to get back on firm, stable financial footing with a less disruptive method, such as debt consolidation or voluntary debt restructuring. If you go down this road, our attorneys can help you negotiate the terms of these agreements.

Make an Honest Assessment

Finally, small business owners will need to make an honest assessment of the state of their business. While bankruptcy is not the appropriate legal tool for every financially distressed company, it is necessary in many cases. Further, waiting too long to file for bankruptcy may result in your business falling into an even bigger financial hole, making it very difficult to restructure and dig yourself out. The bottom line: If your small business is facing serious financial troubles, you need to take action now. The sooner you address the problem, the better off your company will be.

Request Your Free Business Bankruptcy Consultation

At the Law Offices of Chance M. McGhee, our passionate San Antonio business bankruptcy attorneys have extensive experience serving the unique needs of small businesses. If your small business is facing significant financial distress, we can help. Please do not hesitate to contact us today to set up a free review of your case.

 

Source:

https://www.thebalance.com/what-is-business-bankruptcy-393017

Managing Your Finances after Bankruptcy

June 29th, 2018 at 8:03 pm

Texas bankruptcy attorneyThink about it: you have already made the mistakes; therefore, you know what to avoid. Bankruptcy tends to make filers better money managers both through experience, as well as through the required courses. Most new clients ask how long it will take to rebuild their credit, followed shortly by the firm statement that they will only ever pay for anything in cash ever again. Bankruptcy is one experience that will help you better manage your finances and empower you to to make better decisions in the future.

Education Requirements

In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) due to their belief that the system was too lenient on those filing for bankruptcy. At that point, they instituted a two-part education program as a requirement to file for bankruptcy. These sessions include:

  • Pre-petition credit counseling which explores all financial relief options to determine if bankruptcy is, in fact, the best option; and
  • Post-petition financial management which occurs before the discharge is finalized and educates clients about how to move forward, budget, manage money, and rebuild credit successfully.

Beyond the Sessions

Most families attending these courses gain essential insights into bankruptcy alternatives, if they qualify, as well as best practices in money management to avoid a recurrence. A few of the most helpful pieces of advice include:

  • Get budget help through financial tracking apps;
  • Start an emergency savings fund instead of an emergency credit card;
  • Live within your means (appropriate house and car size);
  • Eat at home more often than you eat out (this includes coffee and sodas);
  • Cut cable and other unnecessary expenses;
  • Unsubscribe from tempting advertisement emails;
  • Teach kids to be thrifty in spending; and
  • Remember that less is more.

Ask Someone with Experience

Believe it or not, you will begin receiving offers from lenders offering you loans and credit lines shortly after finalizing your bankruptcy. Unfortunately, many people accept these offers for fear that there will be no other offers. Advice to consider is to avoid large loans in the beginning. If you work with small lines of credit and keep them paid on time, eventually better offers will come in. If you have questions about how bankruptcy can help your current situation and your future, a Boerne bankruptcy lawyer can help. At  Law Offices of Chance M. McGhee, we provide cost-efficient and compassionate counsel to individuals, families, and small business owners struggling with a financial crisis. Call us today at 210-342-3400 to schedule a free case review.

 

Sources:

http://www.txs.uscourts.gov/bankruptcy

 

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