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Bankruptcy Is A Chance For A Fresh Start

When your debt is no longer manageable and you want to start over, William H. Lively, Jr. WHL, PLLC, has the knowledge and experience to help you. There is a heavy negative stigma surrounding bankruptcy due to the misconceptions many people hold. However, bankruptcy provides a clean slate for individuals and businesses by discharging most types of debt.

Our firm has spent 25 years helping thousands of clients throughout Texas start afresh by filing bankruptcy. With over 7,000 cases under our belt, we are one of the highest-volume bankruptcy firms in Eastern Texas. We handle only Chapter 7 and Chapter 13 bankruptcy cases, so we have in-depth knowledge of local and state laws.

We can help you if you are currently facing:

  • Overwhelming credit card debt
  • Unmanageable medical debt
  • Abundance of loans
  • Foreclosure
  • Repossession
  • Wage garnishment
  • Harassing phone calls from debt collectors
  • Delinquent child support payments

Which Type Of Bankruptcy Is Right For Me?

We accept two types of bankruptcy cases: Chapter 7 and Chapter 13.

In Chapter 7, also referred to as liquidation bankruptcy or a complete bankruptcy, debtors can discharge many of their debts and must liquidate their nonexempt assets to pay their creditors.

Chapter 13 allows debtors to establish a payment plan over the course of three to five years. This prevents them from having to liquidate their assets.

Our bankruptcy lawyer can help you determine which chapter you should file when you set up your free initial consultation.

Do Not Go Further Into Debt Paying Legal Fees

We make it a priority to provide affordable legal services so that you do not have to take on another financial burden. Our rates are reasonably priced, and we can offer payment plans when needed. In addition, we offer free initial consultations — no risk, no obligation.

Let’s Bust The Misconceptions About Bankruptcy

You have probably heard many misconceptions about bankruptcy: Bankruptcy is shameful. Bankruptcy is admitting defeat. Bankruptcy cannot save your situation. If you have considered bankruptcy but never taken that first step, these myths may be the reason holding you back. You should not let these falsehoods put you off from filing Chapter 7 or Chapter 13 bankruptcy in Texas.

Here, we will discuss the truth behind four common bankruptcy myths:

Bankruptcy Is Shameful

No one should feel ashamed about filing bankruptcy. Bankruptcy is actually a chance for a fresh start. It allows people who have unmanageable debt to wipe their slates clean by discharging debts from personal loans, credit cards and medical bills. Many people have filed before, and many will in the future.

Bankruptcy Will Destroy Credit

Following a bankruptcy, your credit score will probably drop, but only temporarily. Over time, you can rebuild it and once again have strong credit. The purpose of bankruptcy is to help you move toward a better financial future, not permanently ruin it.

Bankruptcy Is For Irresponsible People

The stigma surrounding bankruptcy is deeply entrenched. Many people mistakenly believe that anyone who files bankruptcy must be financially irresponsible.

It is true that a portion of people who go bankrupt made irresponsible decisions, but people file for numerous reasons. Some people have overwhelming medical debt from unexpected injuries or unavoidable conditions. Some lose their jobs and cannot keep up with payments. Others experience an unexpected life event that causes them to go into debt.

The truth is that debt affects all kinds of people.

Bankruptcy Is For Other People, Not Me

In 2016, approximately 800,000 people in the United States filed for bankruptcy. The important thing to know is that bankruptcy has helped people who were in the same position as you—and it may be able to help you, too.

Discuss Whether Bankruptcy Is Right For You

You are not alone. William H. Lively, Jr. WHL, PLLC, can discuss bankruptcy with you and guide you through the filing process. To schedule your free consultation with an attorney, call our Tyler office at 903-920-0008, or contact us online.