Filing for Bankruptcy in Texas

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Are you considering filing for bankruptcy in Texas?

If so, there are some important considerations one must make before finalizing this decision.  Consumers have two options when filing for bankruptcy.  These are known as Chapter 7 and Chapter 13 bankruptcy.  Prior to discussing each of these filing types, it’s vital that you weigh the pros and cons of making the decision to file bankruptcy in the first place.

What you don’t know can hurt you:  Filing for bankruptcy isn’t always necessary in the State of Texas.  Did you know that Texas has some very favorable provisions available to consumers who are facing debt challenges?  Here are:

The Facts About Garnished Wages

The Texas state constitution prohibits garnishment of current wages for personal services.  Unpaid commissions up to $15,000 are exempted for the head of household.  Additionally $7,500 are also exempt from garnishment for a single person.  The bottom line is this.  Your creditors are not likely to explain the exemptions and protections you have under Texas law.  Judge Jed Shaw knows the laws inside and out.  He can offer you advice for your specific situation so that you understand what your creditors can and cannot do to you.

Many people are filing for Chapter 7 bankruptcy in Texas in order to avoid having their wages garnished by creditors whom they owe.  However, is bankruptcy what you need if you already have these protections in place?  It is important that you get the proper advice before making such a life changing decision.

Alternatives to bankruptcy exist if you are sued

If an original creditor sues there is little, if any, defense you have.  But depending upon the amount of the lawsuit, you may be better off not paying an attorney to file an answer to them.  There could be a defense if sued by an assignee of original creditor, otherwise known as the debt purchaser.  However, this does not mean that you are without options.  Unfortunately, bankruptcy attorneys typically offer boilerplate options that favor only them and not you.  For example, your primary residence does provide a safe haven and is exempt from judgment creditors.  Additionally, the contents and items within your property have special protections as well.  There are numerous details to be considered, which Judge Jed Shaw can help you understand.  The bottom line is that most bankruptcy attorneys are interested in you paying them to file a chapter 13 or chapter 7, not explaining the alternative protections available to you.

Get the facts before filing for bankruptcy in Texas

These are just two examples of many that you need to consider carefully before filing for bankruptcy.  Judge Jed Shaw is a legal expert who can help you choose the best course of action for your situation.  He offers consumers in Texas a complimentary and confidential consultation by phone.  Take the steps today to discover what is best to resolve your financial challenges.

Shaw & Associates, PLLC has a AAA rating with the Better Business Bureau which is given to companies who offer exemplary customer service.  Jed Shaw has a lifetime of civic and business experience, and has been a Texas Judge and Mayor.  Please contact him today so that he can help you make an informed decision about the financial challenges you are facing.  Filing for bankruptcy in Houston Texas may be the option for you, but chances are there are better alternatives you can learn about.

by Jed Shaw

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