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A broken heart doesn't have to lead to a broken bank account

Many divorces in Texas are messy. Depending on whether you have children, own a business or any number of other factors, you may be in for quite a challenge when it comes to negotiating a fair and agreeable settlement. Beyond your children's best interests, which of course is a central focal point for you, you may also be greatly concerned about the impact divorce may have on your financial situation.

Did you and your spouse become financial foes in divorce?

Texas residents are not immune to the various types of stresses and problems that often arise during the divorce process. If you recently navigated the system and it left you in a financial crisis, you may relate to that statement on a very personal level. Regardless which spouse filed for divorce, you likely understood at the time that the whole process was going to cost you money. In fact, if more people knew how to avoid the potential finance-related pitfalls of divorce, there might be an increase in amicable settlements.

Payday loans may not offer the debt relief you are looking for

As you stare down a considerable amount of consumer debt, you may feel as if you will never get out from under the financial burden. Though you act diligently and try to make payments on your outstanding balances as best as you can, those efforts may not have the desired impact. As a result, you may feel trapped in a never-ending cycle of accumulated interest and additional payments.

You have alternatives to avoid repossession

You woke up in the morning and looked out your front window only to discover your car was gone. Or maybe you had just gotten off work or emerged from the store with a cart full of groceries. Your first thought may have been that someone stole your vehicle — until you remembered how far behind on your payments you were.

Post bankruptcy: Get the right tools to rebuild your credit.

Was last year one of your worst financial years yet? If so, you are definitely not alone as many Texas residents have struggled to overcome financial obstacles thrust upon them by a failing economy. Perhaps you determined that the most viable option for getting past your financial problems was to claim personal bankruptcy. Your credit score was no doubt greatly impacted by your decision. However, once you resolve the problems that led to bankruptcy, there's reason to hope for the future.

The high-pressure tactics of new tax collectors

If you have fallen behind on your bills, you may already know the sinking feeling when the phone rings and creditors are on the other end, reminding you of your delinquency. You may try to be polite as you put them off or make promises you can't keep, but it's not always easy, especially when they threaten to make your situation even worse than it is.

What happens during the Chapter 13 bankruptcy process?

Dealing with overwhelming debt can feel like a hopeless situation. While you may feel helpless to do anything to make the constant harassment from creditors stop or catch up on your outstanding balances, there are actually options available to you. If you are behind on your mortgage and are facing threats of losing your Texas home, you may consider the benefits of Chapter 13 bankruptcy. 

Will I lose my personal property if I file for bankruptcy?

The decision to file for bankruptcy is not an easy one, and it is rarely the first choice for many Texas consumers. However, if you find yourself overwhelmed by debt and harassed by creditors at all hours, it may be time to consider this option as a way by which you can reclaim your financial future.

Bankruptcy – Chapter 7 vs. Chapter 13

Millions of hardworking Americans experience financial difficulties every year. Perhaps it’s a loss of a job or maybe credit card debt gets out of control, and then suddenly you are on a downward financial spiral. Filing for personal bankruptcy may be hard to accept, but it is truly a viable solution that will bring an end to harassing phone calls, letters from creditors or even people showing up at your home.

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Steele Law Firm, PLLC
3629 Lovell Ave, Ste. 100
Fort Worth, TX 76107

Phone: 682-990-9372
Fax: 866-292-2348
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