Esteemed Bankruptcy Lawyer Helping Texarkana Clients Tackle Debt
Filing for bankruptcy is an incredibly difficult decision to make. In addition to the financial struggle inherent to any bankruptcy filing, you are also looking at a complicated legal process, not to mention the stigma that may result. Having dedicated his professional career to helping Texas and Arkansas families with bankruptcy proceedings, attorney David C. Graham knows what it takes to get you back on your feet.
Chapter 7 bankruptcy is the financial reorganization method typically chosen by those with few or no significant assets and a high amount of unsecured debt. It is often referred to as liquid or straight bankruptcy. During chapter 7 bankruptcy proceedings, filers get to discharge the majority of their debts, but may keep assets such as property or vehicles if they can keep up with monthly payments. If not, those assets will be forfeited and discharged. The other major benefit of chapter 7 is that it is a substantially faster process — think a matter of months as opposed to years.
Chapter 12 bankruptcies can provide financial relief to individuals qualifying as “family farmers” under the requisite Texas and Arkansas state law. Farming-related bankruptcies (including those concerning fishermen and plant nurseries) typically involve negotiating with banks and other various lenders, restructuring debt and obtaining financing. As is the case with chapter 7 and 13 bankruptcies, filing for chapter 12 relief requires establishing a workable plan that will allow the farmer to return to solvency.
Chapter 13 bankruptcy allows the filer to maintain secured property while discharging unsecured debt. It is a process of typically three to five years, during which your debt is reorganized and strict payment schedules specified. This option is only available to individuals, not businesses or partnerships. Filers of chapter 13 will also be required to complete a mandatory credit counseling class. It is a longer-term process, typically of three to five years, which may look better on a credit report than a chapter 7 filing.
We’ve included the following documents here for you to fill out prior to your meeting in order to facilitate the completion of your materials necessary for the filing of your case. If you are confused or overwhelmed, you most certainly can wait to fill these out under the guidance of your attorney.
The bankruptcy questionnaire is provided to help people who need to file chapter 7 or 13 bankruptcy.
Form 2848 is a power of attorney that if completed by you will allow this law firm to communicate on your behalf with the IRS.
Form 433-A is an official financial document used by the IRS in assessing your personal financial condition in order to determine whether you are qualified to enter into an Offer and Compromise or Installment Agreement.
Form 433-B is an official financial document used by the IRS in assessing people who own a sole proprietorship, corporation, partnership, LLC or any other legally recognized business entity.
Don’t Delay Financial Resolution — Call Now
No one should have to navigate the murky world of bankruptcy alone. With extensive experience in chapter 7, 12 and 13 bankruptcies, attorney David C. Graham has the skill set necessary to help you and your family secure the financial future that you’ve spent your life working for.