If your credit card debt has spiraled out of control, you may be facing debtor harassment or a debt collection lawsuit. While filing for bankruptcy can protect you from the repercussions of defaulting on your debt, it is crucial to have informed representation. At Toronjo & Prosser Law, we are dedicated to designing innovative debt relief solutions for clients in the Dallas-Fort Worth area.
Our experienced Texas bankruptcy attorneys can help you find ways to restructure or even eliminate your credit card debt. Anyone can experience hard times — a job loss, a health crisis, unexpected expenses, which is why we will never judge you. Instead, we will help you explore all your debt relief options, including bankruptcy or a negotiated debt settlement.
Because we are committed to helping you regain your financial footing, we offer free consultations and flexible payment plans. Remember: defaulting on your credit card payments can have harsh consequences. The sooner you contact our bankruptcy attorneys, the sooner we can help you resolve your credit card debt.
How Chapter 7 Bankruptcy Can Eliminate Credit Card Debt
Chapter 7 bankruptcy is a way to eliminate your insurmountable credit debt. One of the advantages of Chapter 7 is that a court order known as an automatic stay goes into effect. The order stops all collection activities, including harassing phone calls from creditors, debt collection lawsuits, and home foreclosures.
The automatic stay gives us time to analyze your case so you can make informed decisions about your future. In most cases, you can file chapter 7 bankruptcy and keep all of your property. While chapter 7 will be listed on your credit report for up to 10 years, it is the most common form of bankruptcy and allows thousands of individuals each year to achieve a fresh start on their finances.
When you work with Toronjo & Prosser Law, we can help to:
- Determine whether you qualify for Chapter 7
- File the necessary petition with the bankruptcy court
- Represent you in dealings with the bankruptcy trustee
- Ensure that the bankruptcy is properly discharged
Above all, we will stand by you every step of the way and work to protect your interests and your future.
How Chapter 13 Bankruptcy Can Restructure Your Finances
Chapter 13 bankruptcy is known as a reorganization bankruptcy in which you work out a court-approved payment plan with your creditors. Generally, Chapter 13 plans allow you to repay your secured and unsecured debts over a 3-to-5 year period, eliminate some of your unsecured debt, and keep your property. To gain court and creditor approval, however, you must be able to show that you have the income to meet your obligations under the repayment plan.
Chapter 13 bankruptcy can be very beneficial to individuals facing high credit card balances and monthly payments. Chapter 13 can often be used to drastically reduce your monthly payments, stops interest from accruing, and creates more available cash flow to pay your other monthly expenses, such as mortgage/rent, car payments, utilities, groceries, etc. It is also the only forced debt consolidation program in the country, which means your credit card companies are required to participate if they want to get paid.
Our bankruptcy attorneys will help you navigate the legal system and devise a well-conceived repayment plan that meets with court approval. Although a Chapter 13 filing remains on your credit report for 7 years, you have the opportunity to restructure your finances, protect your home, and reconsider your financial future.
At Toronjo & Prosser Law, we know how easily many individuals get overextended on their credit cards. When it gets to the point that creditors are constantly calling or legal papers are being sent to your home, personal bankruptcy will give you the breathing room to begin again.
Does Bankruptcy Get Rid of Credit Cards?
In most cases, yes, bankruptcy can eliminate credit card debt in Texas. Chapter 7 bankruptcy typically discharges unsecured debts like credit cards, wiping them from your financial slate. However, Chapter 13 requires repayment under a court-approved plan, potentially keeping some card debts. It’s crucial to consult a qualified Texas bankruptcy attorney for personalized advice on your specific situation.
How Toronjo & Prosser Law Can Help with Credit Card Debt
When you consult with us, we will review your finances, including:
- The amount of credit card debt you owe
- The minimum monthly payments
- Day-to-day expenses (e.g. housing, utilities, food, and transportation).
Our legal team will then help you determine whether bankruptcy or another debt relief option works for you. Having successfully filed thousands of personal bankruptcies, we have the knowledge and skills to help you restructure your debt and finances. Above all, we will work strategically to protect your interests and resolve your credit card default issues.
Contact Our Experienced Credit Card Debt & Bankruptcy Attorney
If you are overwhelmed by credit card debt, you are probably frustrated and may not know what to do. Being constantly contacted by creditors is frustrating, but you cannot ignore calls or legal papers. Your creditors may seek a court judgment to garnish your wages, place liens on your property and/or seize your bank accounts. With so much at stake, you need the informed representation Toronjo & Prosser Law provides.
When you work with us, you can rest assured we will work to protect your interests and help you resolve your credit and financial troubles. Our legal team is highly experienced in Chapter 7 and chapter 13 proceedings and has a proven history of helping our clients reorganize their finances. When you’re ready to achieve a fresh start financially, contact our office for a free consultation.