Legal Question in Bankruptcy in Texas

Re: should I clame bankruptcy

Short answer -- I recommend you file bankruptcy.

Everyone deserves at least one chance to start over again with no debts. READ MY FIRM'S PHILOSOPHY. It sounds like your creditors are hassling you over the phone quite a bit. They will more than likely continue to do so. Eventually they may file suit against you especially if you owe a substantial amount of money to any single creditor. Right now the bankruptcy laws make it easy to file. The Congress and Senate may make changes to these laws making it very difficult to file for a complete "discharge" (the term in bankruptcy which means eliminate or wipe-out your debts) In the future it may be possible to discharge only a small portion of your debts.

You are essentially asking if you have enough debt to necessitate or qualify for a bankruptcy filing. Right now, the Bankruptcy Code does not require a minimum amount of debt and currently there are no limitations to the amount of monthly income you can receive. Many people have the impression that they must be destitute in order to "qualify" for bankruptcy. This is not the case. If your income is high enough that it exceeds your necessary monthly expenses (not including payments on credit cards)substantially then you would probably need to file under Chapter 13 instead of Chapter 7 and repay a portion of your debts. In your particular situation I think your monthly income is not high enough to warrant a Chapter 13 filing. You would file for a complete "discharge" under Chapter 7. Please call me to discuss the your particular situation in greater detail. ph. (972) 231-5500 or (800) 303-0720

Re: should I clame bankruptcy

If your unpaid bills are because either you can't pay them or you need a little time to pay them and your creditors won't work with you, you should at least talk to a bankruptcy attorney about whether it is the right option for your situation. Your creditors can proceed with filing suit, as one option of collecting the unpaid debts.

Re: should I clame bankruptcy

You individual situation has to be evaluated to know whether you should file bankruptcy. The creditors eventually will probably sue you and get judgments. These most likely would be discharged in bankruptcy. However, you can file bankruptcy before that if you qualify. Larry Maun 713.266.2560