No borrower sets out with plans to file bankruptcy. It is a fallacy that bankruptcy is necessarily a sign of failure or weakness. Every day in the law offices of Davis Law Firm, our Texas bankruptcy attorneys encounter people who had every intention of paying their credit card bills, home improvement loans, car loans, medical bills and other debts that they incurred. Many were on track to repay through steady monthly payments out of every paycheck, when some calamity or deviation shipwrecked their plans:
- Job loss or income decline
- Illness or death in the family
- Divorce or other family troubles
- Mortgage troubles and perhaps foreclosure on the horizon
- Dramatic increases in credit card interest rates
- Overextension of credit by creditors or overuse of credit by debtors
Many debtors have tried without success to find solutions through means other than bankruptcy, such as:
- Selling of assets such as jewelry
- Transferring balances from one credit card to another
- Credit counseling
- Debt consolidation
- Home loan modifications
Often, these efforts prove to be band-aid solutions that do not address the root of the problem: more debts than assets and income. Bankruptcy addresses that problem head-on. Our legal system includes bankruptcy as an alternative to ancient solutions to debt such as slavery, indentured servitude and debtors' prisons. Through Chapter 7 or Chapter 13 bankruptcy, an individual consumer or a married couple can get a fresh start financially. Davis Law Firm, with law offices in San Antonio, El Paso, Waco, Killeen, Temple, Brownsville, McAllen and Harlingen, is prepared to advise you on whether bankruptcy is right for you and if so, how best to proceed.
Bankruptcy Lawyers in San Antonio, El Paso, Waco, Killeen and Throughout Texas
If you are even contemplating bankruptcy, we urge you to take action now. Call us or e-mail us to schedule a free initial consultation with a lawyer regarding the debt relief that you need.