Consumer Bankruptcy in Montgomery County, TX

Are you drowning under credit card bills you can’t even pay the monthly interest on? Struggling to pay back a personal loan? Life creates all types of hardships—don’t let mounting debts be one of them. James R. Jones, Attorney at Law can help you explore personal bankruptcy in Montgomery County, TX.

We specialize in Chapter 7: Liquidation bankruptcy. Our goal is to help you discharge as much unsecured debt as possible, so you can make a fresh financial start.

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The Means Test

The benchmark for filing Chapter 7 consumer bankruptcy in Montgomery County, TX is the Means Test. To qualify, you must pass the following criteria, as determined by the Census Bureau:

  • You make less than $37,676 per year
  • Less than $54,288 per year for a two-person household
  • Less than $55,534 per year for a three-person household
  • For each person in excess of 4, add $7,500

Individuals meeting these criteria or whose deductions put them below the threshold qualify to file for Chapter 7 Bankruptcy in Texas.

Credit Counseling

As part of the 2005 Bankruptcy Act, credit counseling is mandatory for all debtors intending to file for Chapter 7 Bankruptcy. The law requires these individuals to undergo credit counseling within six months before filing and to complete a financial management course after filing.

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What You Need to File

James R. Jones, Attorney at Law offers a free 30-minute consultation to help you determine if you qualify for Chapter 7. In addition to income statements for the Means Test, we also ask that you provide information about the following:

  • Current income sources
  • Major financial transactions (2 years)
  • Monthly living expenses
  • Debts (secured and unsecured)
  • Assets and real estate (deeds and titles)
  • Tax returns (2 years)

We can tell you very quickly if you qualify for Chapter 7 and if you do, we’ll provide a brief summary of how to file. If you don’t qualify, we’ll recommend the right option for you, be it Chapter 11 or 13 Bankruptcy. To get started, contact James R. Jones, Attorney at Law today by calling 281-466-1951.