The Means Test and Bankruptcy in Texas

Most people filing for bankruptcy have been faced with an unexpected crisis or unforeseeable event that has left them unable to contend with mounting bills and expenses. You may have lost a job, suffered an injury or gone through an expensive divorce. Federal bankruptcy law often allows individuals and families who are unable to recover from debt the option of filing for bankruptcy. If you are faced with overwhelming debt, it is important to know your rights and options under bankruptcy law.

Take action now to seek the fresh start you deserve by calling Austin (512) 476-2000San Antonio (210) 560-0000, or emailing for a free consultation with an experienced bankruptcy attorney.

Who Should File for Chapter 7 Bankruptcy?

A typical Chapter 7 bankruptcy filer is a person who has large credit card debt along with other unsecured bills and a few assets. By liquidating non-exempt assets, a Chapter 7 bankruptcy can, in many instances, completely eliminate all your debts; however, certain debts cannot be discharged in a Chapter 7 bankruptcy such as alimony, child support, debts fraudulently incurred, certain taxes, student loans, and certain items you may have charged.

Filing a Chapter 7 bankruptcy allows you to:

Stop creditor harassment, end debt collection

  • Discharge a judgment

  • Stop repossession

  • Stop home foreclosure

  • Stop accruing interest on tax and other debts

  • Exempt property from the liquidation process

  • Achieve financial independence after debt

Debt Liquidation and Elimination Through Chapter 7 Bankruptcy

If you simply want to eliminate your heavy debt burden without paying any of it back, Chapter 7 may be your best option. But for many, debt solutions are complex. You may want to keep a home or car on which you've fallen in arrears, protect non-exempt assets, or have a significant income that disqualifies you from filing a Chapter 7 bankruptcy. In this case, you may want to consider Chapter 13 bankruptcy.

Chapter 7 for Businesses and Corporations

Chapter 7 bankruptcy can also be filed by corporations, but not together with individuals. Whereas an individual can get the debts that remain after the liquidation discharged, corporations that file for Chapter 7 bankruptcy do not receive discharges; therefore, any individuals who might be legally liable for the business debts should strongly consider filing individual bankruptcies in addition to the corporation's bankruptcy.

To discuss your bankruptcy options and debt relief solutions, please contact Law Offices of Susan G. Taylor, an experienced bankruptcy firm serving individuals, families and businesses throughout Central Texas.

Free initial consultations. After hours and weekend appointments available. Located conveniently in the historic district, west of the Capitol, and on Loop 410, near the San Antonio Airport. Ample, free parking.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.