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James R. Jones, Attorney at Law.

Woodlands Consumer Bankruptcy

Consumer Bankruptcy in Woodlands 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 Woodlands, 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.

The Means Test

The benchmark for filing Chapter 7 consumer bankruptcy in Woodlands 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.

The Automatic Stay In A Consumer Bankruptcy

One of the biggest benefits of a bankruptcy proceeding is the automatic stay. The automatic stay stops creditors and collection agencies from continuing their collection activities during a bankruptcy. It is a notice that can bring untold relief to debtors who are suffering from constant collection calls and letters.

It is no secret that collection activities from unrelenting creditors and collection agencies can be overwhelming and stressful. Therefore, if you are being bombarded with calls and letters from creditors, an automatic stay can be a much-appreciated resource. To learn how an automatic stay can benefit you in your bankruptcy case, talk to a knowledgeable consumer bankruptcy attorney who serves clients in the Woodlands, TX area and offers affordable bankruptcy services.

The bankruptcy code provides the automatic stay for the benefit of consumer bankruptcy petitioners. The automatic stay goes into effect immediately after a bankruptcy is filed. Creditors and collections agencies receive a notice stating that a bankruptcy proceeding is underway and that all collection activities must be halted. The stay is binding in every court and proceeding that affects the debtor. An automatic stay allows a person to rehabilitate their finances in peace while in bankruptcy without the harassing activities of incessant entities.

Some of the advantages of an automatic stay include:

  • Stopping collection attempts on debt incurred prior to filing for bankruptcy
  • Stopping a foreclosure
  • Halting the repossession of a vehicle
  • Preventing attempts to obtain property
  • Halting certain evictions
  • Blocking utility disconnection
  • Stopping certain wage garnishments
  • Halting litigation proceedings that took place prior to filing bankruptcy
  • Stopping collection on certain judgments

Even though the automatic stay provides extensive protection against creditors and other agencies, it also has limits. There are some things that the automatic stay cannot protect against. The following are not subject to an automatic stay:

  • Collection attempts on debt incurred after filing for bankruptcy
  • Lawsuits initiated after filing for bankruptcy
  • Divorce proceedings
  • Certain tax proceedings
  • Certain evictions
  • Criminal proceedings and investigations
  • Child support
  • Spousal support
  • Perfection of certain liens
  • Collection on loans against a pension plan

For more information about automatic stays and what it protects, contact a consumer bankruptcy attorney who has a successful proven track in consumer bankruptcies. The bankruptcy code can be complicated. Therefore, it is essential to seek the legal assistance of a Texas bankruptcy lawyer who has comprehensive knowledge of the bankruptcy code and law. Recruiting a professional can significantly help guard you against creditors and others during a difficult financial time in your life.

Professional Texas bankruptcy lawyers should be consulted when considering bankruptcy. They can provide in-depth details into the particulars involving automatic stays and the overall bankruptcy process. It is also reasonable to seek a consumer bankruptcy attorney who offers affordable bankruptcy services. James R. Jones, Attorney at Law, is a Texas bankruptcy lawyer who provides quality and affordable representation. His aim is to deliver top-notch legal services and advocacy. Whether you are in need of a consumer or commercial bankruptcy lawyer in Woodlands, TX, look no further than James R. Jones, Attorney at Law.

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.

What You Need to File

James R. Jones, Attorney at Law offers a 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 (713) 992-2039.

James R. Jones, Attorney at Law

Call Us Now To Get Started
(713) 263-3888