San Antonio Bankruptcy Lawyer » Uncategorized http://thesanantoniobankruptcylawyer.com Helping People In Financial Trouble Relieve Their Pain Sat, 20 Aug 2011 02:26:39 +0000 en hourly 1 http://wordpress.org/?v=3.0.5 A bankruptcy lawyer – How he guides you through the process http://thesanantoniobankruptcylawyer.com/2011/02/a-bankruptcy-lawyer-%e2%80%93-how-he-guides-you-through-the-process/ http://thesanantoniobankruptcylawyer.com/2011/02/a-bankruptcy-lawyer-%e2%80%93-how-he-guides-you-through-the-process/#comments Sun, 13 Feb 2011 13:38:21 +0000 sanbank http://thesanantoniobankruptcylawyer.com/?p=353 This post is a guest article by Jack Hudson

A bankruptcy lawyer – How he guides you through the process

As the US national debt level is spiraling out of control, an increasingly large number of people are resorting to bankruptcy. Even after exploring the alternatives to bankruptcy and seeking help of the debt settlement companies, a large number of people are filing bankruptcy to start a fresh new financial life. Most people are worried about the entire process of bankruptcy but you battle against debt is almost half won if you have a bankruptcy lawyer by your side. Have you ever thought of the hassles you can go through if you go through the process of bankruptcy alone? There are multiple legal aspects of bankruptcy that can be well comprehended with the help of a bankruptcy lawyer. Read on to know how a bankruptcy lawyer assists you throughout the bankruptcy procedure.

How can the bankruptcy lawyer help you in filing bankruptcy?

You need to contact a bankruptcy attorney whenever you decide to file a bankruptcy. You must not hide any information from the lawyer as you have trust on him before handling your finances over to him. All details that may go against you must also be confided to the lawyer. The bankruptcy lawyer will ask you to go for a session of pre-bankruptcy credit counseling at least 6 months before filing bankruptcy. After going through the grueling session of debt counseling, you need to hand over all relevant papers to him to prove that you have undergone this mandatory credit counseling session. Important documents will include your assets, income and monthly expenditure.

The role of a bankruptcy lawyer in Chapter 13 bankruptcy

If you file bankruptcy, you have to go through a Means test and once it is completed to determine that your monthly income doesn’t qualify for Chapter 7, the bankruptcy lawyer will ask you to file Chapter 13. Then the lawyer will work out an alternative repayment schedule for you and will try his best to get it approved by the bankruptcy court. Once it is approved, you have to start off with the monthly installments in order to be able to wrap up your debts within a span of 3-4 years.

The role of a bankruptcy lawyer during Chapter 7 bankruptcy

Your bankruptcy lawyer will advise you to file Chapter 7 if your source of income is exhausted due to a sudden job loss or a major accident. He will conduct the Means test where he’ll help you calculate your monthly income and expenses since the last 6 months. This amount of income will be compared with the median average income of other households. In case you qualify for a Chapter 7, your bankruptcy lawyer will coordinate with the trustee and assist him in disposing off your assets to pay off your debts.

Since you’ve incurred huge amount of debts and not got desirable results from debt settlement companies, you may not be in a state to think logically about your financial state. In such a situation, a bankruptcy lawyer will assist you in choosing the right kind of bankruptcy according to your mentioned income and expenses. This entire process saves a lot of effort and time.

Jack Hudson


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    We are in the process of closing on our first house and don’t want to mess this up. My husband is being forced to file bankruptcy soon on ONLY medical bills. I don’t know if the bankruptcy should be filed just after closing to prevent a lawsuit from one of the creditors or if we should just go to court and settle the bankruptcy after a judgment has been passed. If we filed chapter 13 bankruptcy, what kind of percentage of the total bills do you usually have to pay on medical bills; or does it depend on your income and expenses? Help please! Also, will our credit cards (which we do NOT have a problem with) be taken away from us?

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    I filed chapter 13 bankruptcy 3 years ago. i am not able to make the payments on my bankruptcy, but i dont want to lose my two cars. I have about 24 payments left, but i am not able to obtain certain necessities for my kids because all of my money goes to bankruptcy. I want to walk away from it like everyone is walking away from their homes. I heard that you could walk away, but i always thought you had to pay every month, so they dont take your vehicles away from you.

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    dnye56 asked:


    We are in the middle of a chapter 7 bankruptcy n are 5 months behind on the house payments. The house place wants a relief from the stay or all of the money from where we are behind in. Can we go to a chapter 13 bankruptcy now in order to save the house n can we do it on only the mortgage company?

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    My husband and I are in a chapter 13 Bankruptcy. We are going through a divorce now. Can I buy out of the Chapter 13 and file a Chapter 7 by myself?

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    I’m uninsured and was rushed to the hospital and the total bills were over $14,000.00. I ended up having to file Chapter 13 bankruptcy since I don’t make enough to pay them back. I need to know if I can file it on my taxes since I’m paying them back but not all of it.

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    My sister has been dealing with the IRS for a while and she was recently told by a friend of hers that she could file Chapter 13 Bankruptcy to get all her bills organized and establish a payment that would help her meet her obligations and keep her house. My understanding is that once you file Bankruptcy you can not do it again for 10 years. I could be wrong though -

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