Arlington Chapter 7 Bankruptcy Attorneys
Offering Reliable Chapter 7 Support Across the State of Texas.
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Thank you so much, McCarty-Larson, PLLC! You are such a great lawyers and your professionalism was excellent. The staff at the office was awesome, polite and kind. They understand a client's financial situation and works through the process patiently with great courage. Once again, thank you so much McCarty-Larson, PLLC!
- P.E.
McCarty-Larson, PLLC was very helpful and patient explaining our options after my wife lost her job and creditors were taking her to court. They outlined a plan for us and everything worked out very well for us. I would recommend McCarty-Larson, PLLC to anyone that is in need of legal help.
- Aaron Herrera
I met with McCarty Larson after many attempts to find a lawyer. They were very professional, straight to the point and polite. They accepted my case with no problems. With only one day to prepare for my case, McCarty Larson accepted my case, explained my options and attended the hearing on my behalf. They did all of this with only a one day notice. I normally do not write reviews, but this one had to be written. They are the best! You will not be sorry for hiring this firm.
- S.C.
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Arlington Chapter 7 Bankruptcy Attorneys
Filing for Chapter 7 bankruptcy can be a life-changing decision for individuals facing significant financial challenges. This legal process provides a way to eliminate most unsecured debts, giving individuals a fresh start. However, understanding what Chapter 7 bankruptcy entails and how it affects your financial future is crucial before making this decision. On this page, we will walk you through the basics of Chapter 7 bankruptcy, the process involved, and why it is important to seek the help of our Arlington Chapter 7 Bankruptcy Attorneys to ensure that the process goes smoothly.
What Is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy, often referred to as liquidation bankruptcy, is designed to help individuals eliminate unsecured debts such as credit card bills, medical bills, and personal loans. When you file for Chapter 7 bankruptcy, your assets may be sold off by a court-appointed trustee to pay off some of your debts. However, most individuals filing for Chapter 7 bankruptcy are able to keep essential property, such as their home, car, and personal belongings, due to exemptions under Texas law.
How Does Chapter 7 Bankruptcy Work?
The Chapter 7 bankruptcy process begins with filing a petition with the bankruptcy court. This petition includes a list of your debts, assets, income, and other financial details. After filing the petition, you will attend a meeting of creditors, which is a formal meeting where the trustee asks questions about your financial situation. The trustee will then review your case to determine which assets can be liquidated to repay your creditors. If everything goes as planned, your eligible debts will be discharged, meaning you will no longer be legally required to pay them.
Impact of Chapter 7 Bankruptcy on Individuals
While Chapter 7 bankruptcy provides relief from overwhelming debt, it also has significant consequences. The most immediate effect is the discharge of many unsecured debts, but there are other aspects to consider. One of the main consequences of filing for Chapter 7 bankruptcy is the impact on your credit score. A bankruptcy filing will stay on your credit report for up to 10 years, which can make it more difficult to obtain new credit during that time. While most unsecured debts are discharged, certain types of debt, such as student loans, child support, and tax obligations, are not eligible for discharge under Chapter 7.
Another consideration is that some of your property may be sold to satisfy creditors. However, Texas offers generous exemptions that protect many essential assets, allowing individuals to keep their home, car, and personal items. The specifics of these exemptions can vary depending on your situation, which is why it’s critical to understand how they apply to your case.
Why It Is Essential to Hire an Arlington Chapter 7 Bankruptcy Attorney
Navigating Chapter 7 bankruptcy can be a complicated process, and having the right legal guidance is crucial. An Arlington Chapter 7 Bankruptcy Attorney can help you understand the intricacies of the bankruptcy process, from filing the initial petition to representing you in court. An attorney can help you assess whether Chapter 7 is the best option for your financial situation and guide you through the necessary steps to ensure the best possible outcome.
The bankruptcy process involves a series of legal requirements and paperwork, and even a small mistake can delay or derail your case. Having a bankruptcy attorney on your side can help you avoid costly errors, ensure that you understand your rights and obligations, and protect your assets. Additionally, an attorney can help you identify and take advantage of any exemptions that apply to your case, ensuring that you can keep as much of your property as possible.
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Common Mistakes When Facing Bankruptcy Under Chapter 7
When facing bankruptcy under Chapter 7, individuals often make certain mistakes that can affect their financial future. It’s important to understand these errors so you can avoid them. The process of filing for bankruptcy is serious, and mistakes can make it more difficult to rebuild your financial life. Below, we explore some of the most common missteps people make when going through this process.
Not Understanding Exemptions
One of the biggest mistakes people make is not fully understanding which of their assets are exempt from liquidation. In Chapter 7 bankruptcy, certain property may be sold to pay off debts. However, the law allows you to keep certain assets like your home, car, and personal items, as long as they fall within the exemption limits. If you don’t fully understand these exemptions, you may unintentionally give up property you could have kept.
Failing to Disclose All Assets
Another mistake people often make is not being completely honest about their assets. You are required by law to disclose all your property, including bank accounts, retirement savings, and valuable items like jewelry or collectibles. Failing to disclose assets, whether intentionally or accidentally, can result in your bankruptcy being dismissed, or worse, facing criminal charges for fraud. Be sure to include everything, even if it’s hard to part with some of your property.
Racking Up More Debt Before Filing
Many people feel the urge to make purchases or take out loans right before filing for bankruptcy. This is a mistake. Racking up new debt just before filing for bankruptcy can raise red flags. If the court sees that you’ve made unnecessary purchases or taken on debt without the intention of paying it back, it can affect your case. It’s important to be mindful of your spending in the months leading up to filing.
Not Seeking Legal Advice
Filing for bankruptcy can be complicated, especially when you are trying to navigate the rules around exemptions, debt discharge, and creditor negotiations. Some people try to handle their bankruptcy without legal help, assuming they can do it on their own. However, this can often lead to errors that may cost you more in the long run. Consulting with our Arlington Chapter 7 Bankruptcy Attorneys can guide you through the process and help ensure everything is handled properly.
Not Considering Alternative Solutions
Chapter 7 bankruptcy might not be the right option for everyone. Some individuals may qualify for Chapter 13 bankruptcy, which allows for a repayment plan. Others may find they can work out a settlement with creditors without filing for bankruptcy. It’s important to consider all your options and understand which path will be the best for your financial situation.
Delaying Filing Too Long
Waiting too long to file for bankruptcy is another mistake that can make the situation worse. The longer you wait, the more debt can pile up, and the more difficult it can be to rebuild your financial life. If you’re facing overwhelming debt and are considering bankruptcy, it’s important to act sooner rather than later. Delaying the process can lead to missed opportunities to discharge certain debts and can worsen your financial situation.
Frequently Asked Questions About Chapter 7 Bankruptcy
At McCarty-Larson, PLLC, we understand that filing for Chapter 7 bankruptcy can feel overwhelming, and you likely have many questions. As Arlington Chapter 7 Bankruptcy Attorneys, we are here to help you navigate the process with clarity and confidence. Below are some of the most common questions individuals have when considering Chapter 7 bankruptcy.
Chapter 7 bankruptcy, often referred to as “liquidation bankruptcy,” is a legal process that allows individuals to eliminate most of their unsecured debts, such as credit card balances and medical bills. In this process, a bankruptcy trustee may sell certain non-exempt assets to pay creditors. However, many individuals are able to keep most or all of their property, depending on exemptions under Texas law.
To qualify for Chapter 7 bankruptcy, you must pass a “means test,” which evaluates your income, expenses, and family size. If your income is below the state median for your household size, you may automatically qualify. If your income exceeds the median, you may still qualify depending on your disposable income and other factors. Our Arlington Chapter 7 Bankruptcy Attorneys can help you assess your eligibility.
Chapter 7 bankruptcy can discharge most unsecured debts, including credit card debt, personal loans, medical bills, and utility bills. However, certain debts, such as student loans, child support, alimony, and some taxes, are generally not dischargeable. If you have questions about whether a specific debt can be discharged, we are happy to discuss your situation.
Filing for Chapter 7 bankruptcy will likely have a temporary negative impact on your credit score. However, many people find that after filing, they can begin rebuilding their credit more quickly than if they continued to struggle with unmanageable debt. Your credit will reflect that you took steps to resolve your financial difficulties, and with time, your credit score can improve.
In many cases, individuals who file for Chapter 7 bankruptcy can keep their home and car, as long as they continue making payments and their property is exempt under Texas law. Texas offers strong homestead exemptions, which can protect your primary residence. Similarly, you may be able to retain your car if its value is covered by exemptions and if you remain current on your payments.
The Chapter 7 bankruptcy process typically takes about three to six months from the time you file. During this time, you will work with a trustee to handle the liquidation of non-exempt assets (if applicable) and the discharge of your qualifying debts. The exact timeline can vary based on your specific case and the complexity of your financial situation.
The bankruptcy trustee is a court-appointed official who oversees your case. The trustee’s job is to review your financial situation, identify any non-exempt assets that may be sold to pay creditors, and ensure that the bankruptcy process follows the law. You will meet with the trustee at a hearing known as the “341 meeting of creditors.”
You may be eligible to file for Chapter 7 bankruptcy again if you have received a discharge in a previous Chapter 7 case, but there are waiting periods between filings. Typically, you must wait eight years from the date of your previous Chapter 7 discharge before filing again. Our attorneys can review your case and advise you on the waiting period and the possibility of filing.
Our team of Arlington Chapter 7 Bankruptcy Attorneys are committed to providing personalized guidance throughout the bankruptcy process. We will help you gather and prepare the necessary documentation, evaluate your eligibility, and explain each step of the process. Our goal is to ensure that you have the information and support you need to make informed decisions.
Arlington Chapter 7 Bankruptcy Client Story
This client story is for educational purposes only.
There was a man in Arlington, Texas, who found himself trapped in a seemingly endless cycle of debt. Every month, it felt like his financial troubles grew worse, and no matter how hard he tried, he couldn’t get ahead. Bills piled up faster than he could pay them, credit card interest rates soared, and the relentless calls from debt collectors became a constant reminder of how hopeless things had become. He spent his days worrying about the future, unsure of how he would ever escape the crushing weight of his financial situation.
The man was overwhelmed and scared. He didn’t know where to turn, and he certainly didn’t understand the bankruptcy process or what options were available to him. The thought of filing for bankruptcy seemed like an impossible decision, one that carried with it a sense of shame and fear of the unknown. But with each passing day, the pressure grew heavier, and the man realized that he couldn’t keep going like this. He needed help.
That’s when he discovered McCarty-Larson, PLLC. Desperate and unsure, he decided to reach out to the team of Arlington Chapter 7 Bankruptcy Attorneys, hoping for some clarity. From the very first conversation, he felt a sense of relief. The compassionate attorneys at McCarty-Larson, PLLC took the time to listen to his story, to understand the details of his situation, and to reassure him that there was hope.
Unlike other places that treated him like just another case number, McCarty-Larson, PLLC made him feel heard. The attorneys explained the process of Chapter 7 bankruptcy in a way that made sense, answering his questions with kindness and patience. They showed him that bankruptcy wasn’t a failure—it was a tool, a lifeline that could help him start fresh and leave behind the mountain of debt that was holding him back.
With McCarty-Larson, PLLC by his side, he no longer felt alone in the process. They guided him through every step, from gathering the necessary paperwork to filing the petition, and they made sure he understood what to expect at each stage. The attorneys took care of the complicated legal details, so he didn’t have to. The fear and confusion that once clouded his mind began to lift, replaced by a sense of confidence and hope.
When the day finally came to hear back from the courts, he was nervous—but he knew he had the McCarty-Larson, PLLC team backing him up. And when he was granted his bankruptcy, wiping away his debts, it felt like a weight was lifted off his shoulders. The man was free. Free from constant stress and anxiety. Free to rebuild his life without the burden of unpaid bills hanging over him. For the first time in a long while, he could breathe easily.
Thanks to McCarty-Larson, PLLC, he didn’t just escape his financial troubles; he got a chance at a new beginning. He was able to rebuild his credit, plan for a brighter future, and leave behind the shame and fear that once ruled his life. The team at McCarty-Larson, PLLC didn’t just offer him legal advice, they offered him a path to freedom.
If you’re feeling overwhelmed by debt and unsure of where to turn, you don’t have to face it alone. The Arlington Chapter 7 Bankruptcy Attorneys at McCarty-Larson, PLLC are here to help you navigate the complex process of bankruptcy with compassion and expertise. They can guide you through each step, just like they did for him, and give you the fresh start you deserve.
Facing Financial Challenges
If you’re struggling with debt and overwhelmed by the weight of financial burdens, you don’t have to face it alone. The team at McCarty-Larson, PLLC. is here to help individuals in Arlington, TX navigate the complex process of Chapter 7 bankruptcy. Whether you’re dealing with mounting credit card bills, medical expenses, or unmanageable loans, we understand how difficult it can be to find a way out. Our goal is to provide you with clear guidance and effective legal solutions to help you regain control of your finances and move toward a fresh start.
Why Reach Out to McCarty-Larson, PLLC.
When you choose McCarty-Larson, PLLC, you’re choosing a team that’s dedicated to understanding your unique situation and providing the support you need. We take the time to listen to your concerns, explain your options, and work together to find the best path forward. Filing for Chapter 7 bankruptcy can be an important step in getting your financial life back on track, and our Arlington Chapter 7 Bankruptcy Attorneys are here to guide you every step of the way.
Call to Schedule an Appointment
If you’re ready to take the next step and discuss your financial challenges with a knowledgeable bankruptcy attorney, we encourage you to reach out to McCarty-Larson, PLLC today. Our team is ready to help you understand your options and take action toward a debt-free future. Call us now to schedule an appointment. We are here to support you through this difficult time and offer the legal assistance you need to regain control of your finances.
Client Reviews
Exceptional service! Professional, knowledgeable, and supportive throughout the process. Highly recommend their team for anyone in need of legal assistance.
Jamaal Jenkins
We Can Help.
Our dedicated team is here to help you reclaim your future.
By working with our experienced bankruptcy attorneys, you can achieve a fresh financial start through Chapter 7 or Chapter 13 bankruptcy, empowering you to rebuild your credit, protect your assets, and pursue employment, housing, and life goals free from the burden of overwhelming debt.
We Proudly Serve the Following Communities
Ellis County including the cities of Ennis, Waxahachie, Midlothian, Red Oak, Ferris, Palmer, Italy, Milford, Maypearl, Garrett, Pecan Hill, Alma, Oak Leaf, and Bardwell.
Johnson County including the cities of Cleburne, Burleson, Joshua, Keene, Alvarado, Godley, Grandview, Venus, Rio Vista, Briaroaks, Cross Timber, Coyote Flats, and Joshua.
Tarrant County including the cities of Fort Worth, Arlington, Grand Prairie, Mansfield, Euless, North Richland Hills, Bedford, Grapevine, Haltom City, Keller, Hurst, Southlake, Colleyville, Saginaw, Watauga, White Settlement, Azle, Forest Hill, Lake Worth, Richland Hills, River Oaks, Sansom Park, Westworth Village, Benbrook, Crowley, Blue Mound, Edgecliff Village, Everman, Pantego, Dalworthington Gardens, and Kennedale.
Dallas County including the cities of Dallas, Garland, Irving, Grand Prairie, Mesquite, Carrollton, Richardson, Rowlett, DeSoto, Duncanville, Cedar Hill, Lancaster, Farmers Branch, Balch Springs, Coppell, Seagoville, Glenn Heights, Sachse, Wilmer, Hutchins, Addison, Sunnyvale, Cockrell Hill, Highland Park, and University Park.
