Bankruptcy Attorney In Beaumont, Texas
Protecting You from Creditors Through Bankruptcy
If you’re feeling overwhelmed by debt and find yourself struggling to stay afloat amidst mounting financial pressures, it’s important to remember that you’re not alone in this challenging situation—and you certainly don’t have to face it all by yourself. For decades, countless individuals and families throughout Southeast Texas have sought the compassionate guidance of Frank Maida in Beaumont during their most difficult financial times.
At Maida Law Firm, P.C., Frank takes the time to personally review your unique situation, thoroughly explain your available options, and help you understand the most effective and beneficial path forward. With more than 45 years of dedicated experience in assisting clients as they navigate the complexities of debt relief, he is here to support you in taking that crucial first step toward reclaiming control over your finances and paving the way for a brighter future.
Call Maida Law Firm, P.C. at 409-898-8200 to schedule a consultation with a lawyer today.
What Happens During the Bankruptcy Process?
After your initial consultation, Frank Maida will thoroughly walk you through each step of the bankruptcy process, ensuring that you can make informed decisions with confidence and clarity. He will carefully assess your unique financial situation to determine whether Chapter 7 or Chapter 13 is the most suitable option for you, taking into account essential factors such as your income, assets, and long-term financial goals. From the moment we file your case with the bankruptcy court to the important task of gathering all necessary documentation and collaborating closely with the assigned trustee, Frank will manage every detail personally, leaving no stone unturned.
At Maida Law Firm, P.C. in Beaumont, you can expect to receive honest guidance and unwavering support throughout your entire journey, from the initial consultation all the way to the successful resolution of your bankruptcy case. Don’t hesitate to schedule your consultation today and take the first important step toward achieving the financial relief you deserve.
What Are The Differences Between Chapter 7 And Chapter 13 Bankruptcy?
In a Chapter 7 bankruptcy, you may be able to wipe out most unsecured debts, including credit card balances, medical bills, past-due taxes, and debts from vehicle repossessions. Filing for Chapter 7 immediately stops garnishments, frozen bank accounts, and pending lawsuits. In many cases, you can keep essential property—like your home or car—if you stay current on payments and meet certain requirements.
Chapter 13 bankruptcy works differently. It allows you to consolidate your debts into one manageable monthly payment, typically spread over three to five years. Like Chapter 7, it immediately halts lawsuits, garnishments, and collection actions. Chapter 13 can also help stop car repossessions and home foreclosures, giving you a chance to catch up on missed payments without losing your property.
If you're tired of the stress and pressure from debt collectors, Frank Maida in Beaumont is ready to help you find a solution that fits your needs.
Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.
Frequently Asked Questions About Bankruptcy
What is Bankruptcy?
Bankruptcy is a legal process that provides individuals and businesses with a way to obtain relief from overwhelming debts. It involves a court proceeding where a debtor's assets are evaluated and, if necessary, liquidated to repay creditors, or a repayment plan is established to help the debtor regain control of their finances.
What are the different types of Bankruptcy?
The main types of bankruptcy for individuals and businesses are Chapter 7, Chapter 11, and Chapter 13. Each chapter has specific criteria and processes.
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy, often referred to as "liquidation bankruptcy," involves the sale of non-exempt assets to pay off creditors, and the remaining eligible debts are discharged. Individuals or businesses with limited ability to repay debts may file for Chapter 7.
What is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy allows individuals to create a repayment plan over three to five years to pay off all or a portion of their debts. This chapter is suitable for those with a regular income who want to retain their assets and catch up on overdue payments.
How does Bankruptcy work?
Bankruptcy begins with the filing of a petition in the appropriate bankruptcy court. The court assesses the debtor's financial situation, may initiate an automatic stay to halt collection actions, and determines the appropriate chapter based on the debtor's circumstances.
When should I consider filing for Bankruptcy?
Filing for bankruptcy should be considered after exploring all other options. It's typically used when there's no feasible way to manage or repay debts due to financial hardship.
What are the eligibility requirements for filing for Bankruptcy?
Eligibility requirements vary by chapter and jurisdiction. Generally, individuals must undergo a means test to determine if they qualify for Chapter 7. Chapter 13 requires a regular income. Our bankruptcy lawyers will determine your eligibility for bankruptcy options and walk you through the entire process.
What is the automatic stay in Bankruptcy?
The automatic stay is a court order that stops creditors from taking collection actions against you once you file for bankruptcy.
What debts are not discharged in Bankruptcy?
Examples of non-dischargeable debts include certain tax debts, student loans (in most cases), child support, alimony, and debts arising from fraud or malicious conduct.
Can I file for Bankruptcy without my spouse?
Yes. However, if you have joint debts, they may still be impacted.
Can I file for Bankruptcy more than once?
Yes, but there are time limits between filings. For example, Chapter 7 can typically be filed every 8 years, and Chapter 13 can be filed after 2 years from a previous Chapter 13 discharge.
How does Bankruptcy affect my credit score?
Bankruptcy can significantly lower your credit score and will remain on your credit report for several years. Chapter 7 bankruptcy can stay on your credit report for up to 10 years, while Chapter 13 remains for up to 7 years.
How do I rebuild my credit after Bankruptcy?
Much of the standard financial advice to improve your credit score applies after bankruptcy. Rebuilding credit involves timely payments, using secured credit cards, and demonstrating good financial behavior over time.
Will I lose my home or car if I file for Bankruptcy?
Can student loans be discharged through Bankruptcy?
Student loans are generally not dischargeable in bankruptcy unless you can prove "undue hardship," which is a challenging standard to meet.
Can Bankruptcy stop foreclosure or eviction?
Yes, bankruptcy's automatic stay can temporarily halt foreclosure or eviction proceedings, giving you time to address the issue.
Can Bankruptcy clear medical debt?
Yes, medical debt can typically be discharged through bankruptcy like other unsecured debts.
Can I keep my credit cards if I file for Bankruptcy?
You may need to surrender your existing credit cards, and obtaining new credit may be difficult after filing for bankruptcy.
Can I file for Bankruptcy without a lawyer?
While you can file without an attorney, bankruptcy law is complex, and having legal representation is advisable. The trusted experts at Maida Law will guide you through bankruptcy and ensure you regain control of your finances. Contact us online or by phone409-898-8200.
Will Bankruptcy affect my ability to get a job or rent an apartment?
Bankruptcy is a public record and could potentially impact your job or rental applications. However, it's illegal for employers or landlords to discriminate solely based on bankruptcy status.
Have Questions?
Call Maida Law Firm, P.C. at 409-898-8200 today to speak with Frank Maida. He’ll take the time to listen to your situation, answer your questions, and help you explore the best path toward financial relief. Don’t wait—reach out now and take the first step toward a fresh start.