You don’t have anything to fear from bankruptcy. In fact, after a bankruptcy is complete, you’ll be able to begin re-establishing your credit. If you are currently besieged by overwhelming debt, don’t rule out bankruptcy until you have all the facts. In the Dallas-Fort Worth area, you should discuss your circumstances and options with an experienced Dallas bankruptcy lawyer who can explain the bankruptcy procedure and help you decide if bankruptcy or another option is in your best long-term interests. Bankruptcy stops foreclosures and repossessions. It can give you some legal protection from your creditors, and it provides you with a second chance to put your personal finances right. To make that second chance work for you, you’ll need to:

  • make a budget and abide by it
  • make all payments on time
  • start saving whatever you can
  • start gradually re-establishing your credit

There’s no law that says who must file for bankruptcy or when. A good bankruptcy attorney can assess your personal situation before recommending bankruptcy or a more appropriate alternative. Your lawyer should explain foreclosure relief, debt negotiation, and the other alternatives to bankruptcy that may be better for you in your personal circumstances. For some, bankruptcy may be the only realistic choice; for others, a different strategy may be less costly and just as effective.

If you determine, with your attorney’s help, that bankruptcy is your only real option, you’ll still have to decide the specific type of bankruptcy and the precise terms. Whether you file for a Chapter 13 bankruptcy or a Chapter 7 bankruptcy, a great many confusing forms and legal documents will be needed, and the simplest paperwork mistake can cost you both time and money. In the Dallas-Fort Worth area, if mounting debts are burying you financially, don’t wait. Get legal help at once and speak to an experienced Dallas bankruptcy lawyer as quickly as you can.