If you are need of a lawyer for any type of bankruptcy proceeding in Cedar Park or Round Rock Texas, The Jackson Law Firm has the experience and knowledge to help you make the best possible decisions throughout the bankruptcy process.
Our team of bankruptcy and family law attorneys (in Cedar Park) makes it easier for you to understand bankruptcy and get rid of debt entirely or reduce it substantially. We offer:
Filing for bankruptcy can be both confusing and frightening because so many creditors and financial managers warn against the long-term consequences of declaring bankruptcy. However, if you can’t afford to pay your bills, the consequences of not paying your debts are almost as bad as bankruptcy, and this bad information stays on your credit report for seven years. Bankruptcies stay on credit records only three years longer. If your bills become too overwhelming for you to handle, declaring bankruptcy can free you from debt or reduce it dramatically. You get a fresh start regardless of whether you own a home or business. You can also keep your car and many other valuables with the right kind of bankruptcy protection and one of our skilled Williamson County attorneys.
We can also help you with other family law matters including immigration, divorce, trial separation and requesting reviews of child and spousal support. Contact us online today schedule a bankruptcy or family law consultation.
The Jackson Law Firm firm offers a consultation to discuss your bankruptcy issue with one of our attorneys and review the legal remedies available to you.
At the Jackson Law Firm we unfortunately understand that oftentimes any sort of conversation around Bankruptcy comes with a high level of stress and stigma. We are dedicated to helping individuals in Cedar Park overcome their financial hurdles while eliminating the stress and stigma of it all to achieve the best possible outcome.
Here are a few of the most common questions we get from Bankruptcy Clients in Cedar Parkview all questions
One of the benefits of Chapter 7 is that you can eliminate your debt. People qualify for Chapter 7 bankruptcy usually when it’s impossible for them to repay their debts based on their incomes. If you qualify for Chapter 7 protection, you can bankrupt all your outstanding debts and get a fresh start.
Although bankruptcy gives you a fresh financial start, there are times when alternatives to bankruptcy might be a better choice. If you want to keep your home or business, it might be more beneficial to work with your debtors, take out a consolidation loan or second mortgage, sell your business’s accounts receivable invoices or get a loan by using other forms of collateral. Regardless of your strategy, it’s always best to contact a bankruptcy lawyer in Williamson County to understand all the risks and alternatives to bankruptcy.
In certain cases, you can bankrupt U.S. federal taxes. Most people think that taxes can’t be eliminated by filing for bankruptcy, but that’s not always true. Many taxes can be discharged, but the rules are complex and depend on your financial situation and whether you filed your taxes on time or within four years of declaring bankruptcy. 
The Jackson Law Firm can help you determine whether any back taxes you owe are dischargeable through bankruptcy protection. Making sense of business and personal bankruptcy, back taxes and dischargeable and non-dischargeable debts is complex, but our team of Williamson County bankruptcy lawyers can simplify filing for bankruptcy and help you choose the right kind of bankruptcy protection.
 Irs.gov: Declaring Bankruptcy | Internal Revenue Service
In Texas–and other states–the state government sets limits on what your creditors can take. This is done by setting exemptions for certain kinds of property that creditors aren’t allowed to attach. In Texas, a creditor cannot garnish your current wages for a consumer debt except for court-ordered child and spousal support and back support payments. Other property that your creditors can’t take includes:
Contact us today at (512) 643-6763 if you have any questions about exemptions. If you really want to protect property that’s valued over the limit, choose Chapter 13. However, some people keep their personal belongings by doing nothing. Your creditors might obtain judgments if you do nothing, but many creditors concentrate solely on attaching cash from employment, your bank accounts and highly valued property like boats. Most creditors don’t want to bother with hunting down your belongings and estimating the value of personal property. It’s risky, but you might be allowed to keep your precious mementos–and even valuable personal property–by doing nothing. If your creditors do go after your personal property, you can stop them at that time by declaring bankruptcy.
There is a “means” test that compares your income with your debts and living expenses to determine if you can pay part of your debts. If you can’t afford to cover living expenses and pay your debts, you qualify for Chapter 7 protection. Chapter 7 bankruptcies enjoy the following financial benefits:
Contact us today online or by calling (512) 643-6763 to see if you qualify for Chapter 7 bankruptcy, which eliminates almost all of your existing debts. A Chapter 7 bankruptcy lawyer in Round Rock who serves the city and surrounding areas in Williamson County can help you get the fastest possible bankruptcy protection and stop annoying collection efforts.
If the “means” test determines that you make enough to pay off part of your debts, you’ll have to file Chapter 13. Your debtors will study your finances and propose a three-to-five year repayment plan, apportioning certain percentages to each debtor. If you stick to this repayment plan, all your remaining debts will be canceled. You can also choose to file Chapter 13 bankruptcy instead of Chapter 7 if you want to prevent foreclosure and keep your home and family cars or keep other property or treasured family mementos that exceed the value of the Texas homestead exemption limit. In a Chapter 13 bankruptcy, you can make up missed mortgage payments and reinstate the original terms of the mortgage.  If you want to keep certain types of property, contact us online today, or call us at (512) 643-6763. We’ll see what can be done to safeguard your livelihood and lifestyle. Chapter 13 bankruptcies can provide the following benefits:
A Chapter 13 bankruptcy lawyer in Cedar Park or Round Rock who serves the city and surrounding areas can help you make sense of the bankruptcy laws and get the best deal possible based on your income, debts and other factors.
 Texasbankruptcylaw.com: Texas Chapter 13 Bankruptcy Information
If you own a small business, a bankruptcy can become more complicated. Filing Chapter 7 bankruptcy works just like personal filing–an Automatic Stay allows your business to dissolve without facing the collection efforts of those that you owe money or services. However, it’s possible to keep your business and still receive bankruptcy protection. Chapter 11 bankruptcy is designed for businesses that want to continue repaying their debts with reduced payments. Your business could qualify for up to six years to repay existing debts. The process is complex, and your debts must be under $2 million dollars to qualify.  There are many other details such as making a list of your top 20 creditors, meeting with debtors, scheduling a conference with them, appointing a trustee and making all business records available for financial examination.
You can file Chapter 13 bankruptcy if you are the sole proprietor of your business. You’ll have to file this type of business bankruptcy as if you were just filing a personal bankruptcy. All other Chapter 13 regulations apply. Contact us online today, or call us at (512) 643-6763 for a business bankruptcy evaluation.
 Justice.gov: OPERATING GUIDELINES AND REPORTING REQUIREMENTS FOR DEBTORS IN POSSESSION AND CHAPTER 11 TRUSTEES
There are several different options for declaring bankruptcy depending on whether you own a business, whether your debts are secured or unsecured, whether child support and alimony are involved and other factors. That’s why it’s so important to contact an attorney first to see what choices you have. Each case is different based on your own circumstances, but the general rules of bankruptcy include the following points:
Secured and Unsecured Debt
Dealing with Other Issues
Mandatory Credit Counseling
As you can see from the above list, there are many complex issues to consider when you file for bankruptcy. That’s why it’s so important that you contact our office today or call us at (512) 643-6763. The Jackson Law Firm of Williamson County, Texas, and surrounding areas including Cedar Park and Round Rock offers guidance, support and expert knowledge of bankruptcy and family law.
One of the first things our lawyers do when you contact our firm is determine whether you qualify for Chapter 7 bankruptcy, which can eliminate all your debt. When it’s impossible to pay your bills–you’ve lost your job, your business has failed, you’ve been sued or have a mountain of debt–you could qualify for Chapter 7 bankruptcy.