Bankruptcy Services

Looking for a Bankruptcy Attorney in Dallas, TX?

Bankruptcy Attorney in Dallas Texas | Bankruptcy Lawyer in DallasThe Mitchell Law Firm, L.P., has many years of experience in personal and business bankruptcy in Dallas (and the entire DFW metroplex), representing both debtors and creditors.

We know that no one welcomes financial problems. Similarly, we know that no one is proud to file bankruptcy. However, we also know that the bankruptcy laws were enacted for a reason, and that is to provide those with the greatest need an opportunity at a fresh start. Whether it is due to a loss of income, medical issues, or simply too much debt built up over a period of time, bankruptcy can help give you a fresh start to begin to move forward in your personal and professional life. This is why it’s important to have a bankruptcy attorney in Dallas.

The professionals at The Mitchell Law Firm, L.P., will walk you through it every step of the way.

Debtors

Why file bankruptcy? It will STOP FORECLOSURES; STOP REPOSSESSIONS; and STOP CREDITOR CALLS AT ALL HOURS of the day or night.

Key terminology and information are listed below so that you can further investigate if bankruptcy is right for you. Please call us at (972) 463-8417 or contact us us to set up a free consultation to see if bankruptcy is right for you.

  • Chapter 7
  • Chapter 11
  • Chapter 13
  • Costs of Filing Bankruptcy

Chapter 7

Filing a Chapter 7 bankruptcy allows you the opportunity to liquidate your unsecured debts. By “unsecured” we mean debts where a creditor cannot come and seize your assets to obtain satisfaction of that debt. For example, a creditor who holds the note to your car can come repossess your car if you do not pay. The most common examples of unsecured debts are credit cards, judgments, and medical bills. bankruptcy attorney in dallas

Most people are surprised to find out that they can keep most of their assets in a Chapter 7, including their house, their car, their retirement accounts, and many other assets. Making effective use of what is known as bankruptcy “exemptions” is something that the professionals at The Mitchell Law Firm, L.P., can assist you with.

If you would like to investigate Chapter 7, please call us at (972) 463-8417 or contact us to set up a free consultation.

Chapter 11

Many businesses can become successful if they can reorganize their debt. For many of the same reasons that individuals find themselves strapped with debt: a downturn in the economy, expenses incurred in building the business, etc. Chapter 11 can give many businesses the chance to restructure and perhaps discharge a significant portion of its debt to get an otherwise profitable business the chance to succeed.

More and more individuals are finding that their cases can proceed more smoothly and successfully under Chapter 11.  Most people are not aware that Chapter 11 is even an option for individuals.  While not appropriate for everyone, Chapter 11 often provides the added flexibility needed in a complex individual case to allow for confirmation of a plan of reorganization.

If you would like to investigate Chapter 11, please call us at (972) 463-8417 or contact us to set up a free consultation.

Chapter 13

Chapter 13 is a form of bankruptcy that involves a reorganization of your debts. It is designed for those with who still have regular income. In a Chapter 13, your creditors will receive some repayment of debt, but it is under terms which are likely more favorable to you. Some debts are not dischargeable in a Chapter 7 filing, but in a Chapter 13, those debts can be paid out over the term of the plan, typically three to five years.

The greatest benefit of a Chapter 13 is that it allows you to repay the arrears (the amount that you are behind) on your mortgage over a period of time. During that time, if you pay the amount agreed in your plan, your home cannot be foreclosed upon.

If you would like to investigate Chapter 13, please call us at (972) 463-8417 or contact us to set up a free consultation.

Creditors

Did your debtor take advantage of your products or services immediately prior to filing bankruptcy? Do you believe that a debtor committed fraud in its attempt to discharge your debt? Has a debtor transferred assets to related parties or is a debtor hiding assets in an attempt to abuse the bankruptcy system? Has a former spouse tried to file for bankruptcy and discharge amounts owed pursuant to a divorce decree?  If so, the professionals at The Mitchell Law Firm, L.P. can help.

While bankruptcy laws provide a needed fresh start to individuals and businesses that are going through rough periods, occasionally the bankruptcy laws are abused, and litigation in the bankruptcy courts is necessary to prevent your rights from being forever altered. Find out whether there is opportunity to prevent a debtor from obtaining a discharge of your debt based on a variety of statutory “exceptions” to discharge.

In some cases, even if you are a secured creditor, it is necessary to protect your interests in bankruptcy by filing proofs of claim and ensuring that your interests are properly provided for in a Chapter 11 or Chapter 13 plan. Let us help protect your rights.

As a creditor, the filing of an involuntary bankruptcy can prove to be a valuable tool. However, there are numerous requirements regarding the number of creditors as well as the amount and type of debt that must be involved. Attorneys at The Mitchell Law Firm can work with you to determine if an involuntary bankruptcy filing may be appropriate.

As an alleged debtor (where an involuntary bankruptcy is filed against you), you have many defenses to fight back against an involuntary bankruptcy. If an involuntary bankruptcy has been filed against you, don’t delay. Contact us immediately so that we can take immediate steps to defend or have the involuntary bankruptcy case dismissed.

Asset Protection

Much of my bankruptcy practice involves asset protection services. Over the last few years, I have noticed that more and more of my clientele is older generations who typically have more assets to protect. Consult with us to determine whether bankruptcy can play a role in a broader asset protection plan. bankruptcy attorney in dallas

In many cases, large amounts of unsecured debt can be discharged without someone losing their life savings if it has been invested in protected assets, such as retirement accounts or in their homestead. Let us help you determine how best to protect your assets for the long term.

Costs of Filing Bankruptcy

We know that if you had a lot of extra money lying around, you probably would not need to file bankruptcy. We are sensitive to your situation and can work with you on a payment plan that best fits the situation. We will determine the appropriate fee amount after a complete evaluation of your financials. Please call us at (972) 463-8417 or contact us to schedule a free initial consultation.

Please note that certain costs are incurred in every bankruptcy case and must be paid to file an initial case. The following Bankruptcy Court filing fees are incurred for filing bankruptcy:

Chapter 7 filing fee $335
Chapter 11 filing fee $1,717
Chapter 13 filing fee $310
Adversary proceeding filing fee: $350

As individuals, you will also be required to obtain a certificate for a Credit Counseling Course and Financial Management Course. Fees for these courses are typically less than $20 and the professionals at The Mitchell Law Firm, L.P can help you find the courses you need.

Attorney’s fees for a Chapter 7 filing must typically be paid upfront, while some portion of the attorney’s fees for a Chapter 11 or Chapter 13 filing can be paid through the Chapter 11 or Chapter 13 plan. We can explain this more fully in the initial consultation.

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