A Fresh Start May Not Be As Far Away As You Think
When debt takes control of your life, it can feel overwhelming. Even hardworking and honest people can fall victim to the vicious cycle of credit card payments, medical bills, mortgages, child support payments and alimony. While practicing fiscal responsibility might help you prepare for some unexpected events, hardships like job loss, divorce and injuries are sometimes unavoidable. In situations like these, being on the receiving end of creditor harassment and compounding interest payments can feel like unfair and unwarranted punishment.
I'm attorney Sean T. Flynn, a personal bankruptcy lawyer with over a decade of experience serving the Central Texas area. I believe in helping ordinary people overcome the extraordinary difficulties that life can sometimes throw at us. Using Chapter 7 and Chapter 13 of the Bankruptcy Code, I can help you restructure and even discharge your debt. If you face the pressure of an imminent home foreclosure, vehicle repossession, lawsuit, wage garnishment or other form of debt collection, let me show you how bankruptcy can be used as an effective tool to provide you and your family long-term relief.
Chapter 7: Liquidation Bankruptcy
Chapter 7 bankruptcy, also known as liquidation bankruptcy, can help you pay off your debts more quickly by taking greater advantage of all of your assets. If you are unable to make sufficient payments using just your income and other immediately available funds, then we can use Chapter 7 to liquidize your nonexempt assets — such as savings accounts, real estate holdings or valuable personal possessions — and pay off creditors. With this method, some of your debts may be discharged in as little as three to five months.
Not every individual qualifies for Chapter 7 bankruptcy. During an initial consultation, I will review your debt and your assets to determine if liquidation bankruptcy is the right method to help you alleviate your financial stress.
Chapter 13: Reorganization Bankruptcy
With Chapter 13 bankruptcy, we can reorganize your debts to offer relief and allow you to retain your property in the process. Under a court-mandated payment plan, you will work to gradually pay off your debts over time, meaning you may not need to sell vehicles or other personal possessions to make payments. Some individuals even have a portion of their debts discharged by completing their payment plan using reorganization bankruptcy.
At The Law Offices of Sean T. Flynn, I will offer you a personalized bankruptcy plan that takes advantage of the best approach for your specific situation. Reorganizing debt can be a powerful tool to ease your financial burdens. Schedule a consultation with me to learn if it's right for your needs.