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Bankruptcy Attorney Richardson

Bankruptcy Attorney Richardson

Helping People Break Free from the Burden of Debt – Bankruptcy Attorney Richardson

Are your debts overwhelming and controlling your life?  Do you feel like there is no way out?  Today you can begin your journey towards debt and stress-free life!

If you are presently drowning in debt and it seems you have not available options, our advice is to retain the immediate representation of a trusted bankruptcy attorney in Richardson, TX.  For decades, Nancy Ridgway has assisted many individuals to reclaim their financial security and their life and we can do the same for you.  Nancy and her team are fully equipped to assist you next and help put you on the right path.

Nancy Ridgway understands the stress and emotional exhaustion that mountains of debt and bankruptcy can place on a person and family.  We feel it is exceptionally important for you to understand that you are not alone. Numerous hard-working individuals, across the Richardson Metroplex and the state of Texas, are facing the same financial difficulties as you are.  It is crucial to understand that there is hope on the horizon and a light at the end of the proverbial tunnel.

Call our Richardson office today or schedule a free consultation and Let Nancy Ridgway Help during this tense time! (972) 671-5000

Different Types of Bankruptcy in Richardson

There are several options when it comes to bankruptcy and your bankruptcy attorney can help you determine which is right for you and your family.   The following are two of the most common:

[h4]What is Chapter 7 Bankruptcy? – Richardson

Chapter 7 Bankruptcy, or “straight bankruptcy”, is one of the most common bankruptcies out of the six types.  Why?  Because it is the simplest form.

The debt, for which the debtor is responsible, is canceled or discharged.  A debtor, who files a Chapter 7 Bankruptcy, is allowed to keep most, and in most cases all, assets that are exempted by federal law.  However, non-exempt assets are available to the designated Chapter 7 Trustee, who has the option to liquidate the assets to pay the debtor’s creditors.  This rarely happens.  The majority of Chapter 7 Bankruptcy cases are “no asset” cases.

[h4]How Does a Chapter 7 Bankruptcy Help Me?

If you choose to file a Chapter 7 Bankruptcy, all of the following either stops or “stays”:

  • Foreclosures
  • Repossessions
  • Garnishments of wages/bank account and you could get part or all of your garnished money back
  • Lawsuits
  • Judgments
  • Utility Disconnects
  • Property Liens
  • Harassing Phone Calls
  • Threatening Letters

You will get your financial stability back and your stress will be relieved.

[h4]How is a Chapter 13 Bankruptcy Beneficial?

For some, a Chapter 13 Bankruptcy is more beneficial, because it may reduce the amount owed to a specific creditor.  Many times, in Chapter 13 bankruptcy we can just change your vehicle payment to where it is paid through the Chapter 13 trustee instead of straight to the creditor.

Under certain circumstances, Chapter 13 bankruptcy can help you remove a second, third, fourth, or fifth mortgage from your house.  It establishes a plan that satisfies the debt while allowing you to live a more normal life.

[h4]When is a Chapter 13 Bankruptcy Required?

Chapter 13 is generally required ONLY if:

  • You earn too much money to qualify for a Chapter 7 bankruptcy
  • You have filed a Chapter 7 bankruptcy in the last eight years, and you have received a discharge of your debts
  • You have too much equity in your residence or other real or personal property

Did you know? Even in a Chapter 13 bankruptcy, you can still discharge or “get rid of” the same debts that you could discharge in a Chapter 7 bankruptcy.

Chapter 13 bankruptcy is designed for single people, married couples, or someone who is married but their spouse does not want to file.

Richardson Bankruptcy Attorney Who is on Your Side

With Nancy Ridgway’s compassionate assistance and personalized legal solutions, you may be enabled to begin your journey towards financial freedom.   At Nancy Ridgway Law Firm, you will find a passionate and experienced bankruptcy attorney in Richardson to help with your unique situation.

Call our Richardson office today or schedule a free consultation and Let Nancy Ridgway Help during this tense time! (972) 671-5000