When you are filing for Chapter 7 bankruptcy, you must understand the process before you begin, if you want to be successful.

To begin, you must fill out an official petition, along with schedules and a Statement of Financial Affairs, and file it with your local bankruptcy court. You will also be asked to include a complete list of creditors, as well as their claim types and amounts. Filing for bankruptcy means that you must expose your complete financial history, including the amount and frequency of your income, a list of your property, and a detailed list o fall monthly expenditures.

If you are successful in filing your Chapter 7 bankruptcy petition, then several things will happen. Creditors will, by law, be prevented from harassing you for collections. An automatic stay is granted for the length of your bankruptcy, unless you fail to make your payments as dictated by the court. You will be appointed a trustee to look over your case, and whom you can refer to with any related questions.

If you have questions pertaining to Chapter 7 in Texas, now is the time to contact our law office to get help from a South Texas bankruptcy lawyer.