| BANKRUPTCY |
| WE ARE A DEBT RELIEF AGENCY. WE HELP PEOPLE FILE FOR BANKRUPTCY RELIEF UNDER THE BANKRUPTCY CODE |
Do I need an attorney to file bankruptcy?
No, however the legal system is a maze of very complex laws, rules, and regulations. It is very easy to make mistakes as
the wording in the Bankruptcy Code is confusing for even some seasoned attorneys. Mistakes can be very costly. A
knowledgeable and experienced lawyer will make sure that your bankruptcy is filed quickly and correctly. In addition,
banks and credit card companies hire teams of aggressive lawyers to fight bankruptcy cases. An attorney representing
you is in a better position to negotiate on your behalf.
What does bankruptcy do to my credit?
In the end, a bankruptcy can make your credit better. Even if all your payments have been made on time, you may owe
so much money that a new credit application would be denied.
Will I ever be able to buy a house?
Most mortgage companies tell us that after 2 years, bankruptcy doesn't hurt your chances of buying a home, so long as
you are otherwise qualified.
Will I be able to finance a new car after bankruptcy?
If your income qualifies you, you will most likely be able to finance a new car. However, you will probably be charged a
higher rate of interest.
How much does it cost?
There is a court filing fee of about $299 for Chapter 7 and $274 for Chapter 13 that must be paid to the Bankruptcy
Court. Attorney fees vary, depending on what your case requires the lawyer to do. We have payment plans available for
most cases, and we will work with you to come up with a fee and a payment plan that you will be comfortable with.
Would a debt consolidation company be better?
It really depends on your situation – and on the consolidation company. Frequently, debt consolidation plans are phony
deals that enrich the company at your expense. At the end of the day, your credit will be just as bad as or worse than if
you had filed bankruptcy and you will still be in debt. There is only one way to have good credit and keep good credit...
you must always pay according to the original terms and never owe more than you can afford to pay back.
Can I negotiate with my creditors?
Yes, but your creditors do not make it easy. Most creditors will not negotiate with you unless the account is already very
delinquent. They usually want the settlement money "up front"...no payment plans; and after you pay out all the money, it
does not restore your credit.
Can a paralegal or a legal document service represent me?
In Texas, legal document preparers and paralegals cannot represent you. They cannot even give you legal advice.
Further, they cannot represent you in court. Only an attorney can do those things for you. People go to them because
they feel that it is cheaper than hiring a lawyer. Bankruptcy cases are very complicated and it takes the full attention of an
experienced attorney to get the very best outcome for you.
Isn't bankruptcy immoral, and just taking the easy way out?
Bankruptcy is a gut-wrenching experience that most people would rather avoid if they could. It is not easy. And it is not
immoral. Bankruptcy is the law of this land, not a gimmick or loophole. Bankruptcy is a law enacted by the U.S.
Congress, called Title 11, U.S. Code, (Bankruptcy Code), pursuant to the U.S. Constitution, (Article 1, Section 8).
Although there are those that may sneer at this, the fact is, bankruptcy is the law provided to the American People to deal
with situations where a person finds that they owe more money than they can afford to repay. Is it wrong to claim
bankruptcy? It is no worse and no better than claiming all of the deductions and exemptions on your tax return that you
are entitled to claim. You are not required to claim them, you are ENTITLED to. Likewise, you are ENTITLED to claim
bankruptcy if you owe more money than you can reasonably afford to repay. Morality is not for us to decide. With
regard to your legal rights, Bankruptcy laws are the first and most important line of consumer defense. It is your right to
have relief, and you should have an experienced attorney on your side to make it happen successfully.
Before considering bankruptcy, shouldn't I first try to seek out some consumer credit counseling?
You will. It is now required to file a certificate of completion from a credit counselling from an agency approved by the
court. Click here for an list of approved agencies in Texas.
No, however the legal system is a maze of very complex laws, rules, and regulations. It is very easy to make mistakes as
the wording in the Bankruptcy Code is confusing for even some seasoned attorneys. Mistakes can be very costly. A
knowledgeable and experienced lawyer will make sure that your bankruptcy is filed quickly and correctly. In addition,
banks and credit card companies hire teams of aggressive lawyers to fight bankruptcy cases. An attorney representing
you is in a better position to negotiate on your behalf.
What does bankruptcy do to my credit?
In the end, a bankruptcy can make your credit better. Even if all your payments have been made on time, you may owe
so much money that a new credit application would be denied.
Will I ever be able to buy a house?
Most mortgage companies tell us that after 2 years, bankruptcy doesn't hurt your chances of buying a home, so long as
you are otherwise qualified.
Will I be able to finance a new car after bankruptcy?
If your income qualifies you, you will most likely be able to finance a new car. However, you will probably be charged a
higher rate of interest.
How much does it cost?
There is a court filing fee of about $299 for Chapter 7 and $274 for Chapter 13 that must be paid to the Bankruptcy
Court. Attorney fees vary, depending on what your case requires the lawyer to do. We have payment plans available for
most cases, and we will work with you to come up with a fee and a payment plan that you will be comfortable with.
Would a debt consolidation company be better?
It really depends on your situation – and on the consolidation company. Frequently, debt consolidation plans are phony
deals that enrich the company at your expense. At the end of the day, your credit will be just as bad as or worse than if
you had filed bankruptcy and you will still be in debt. There is only one way to have good credit and keep good credit...
you must always pay according to the original terms and never owe more than you can afford to pay back.
Can I negotiate with my creditors?
Yes, but your creditors do not make it easy. Most creditors will not negotiate with you unless the account is already very
delinquent. They usually want the settlement money "up front"...no payment plans; and after you pay out all the money, it
does not restore your credit.
Can a paralegal or a legal document service represent me?
In Texas, legal document preparers and paralegals cannot represent you. They cannot even give you legal advice.
Further, they cannot represent you in court. Only an attorney can do those things for you. People go to them because
they feel that it is cheaper than hiring a lawyer. Bankruptcy cases are very complicated and it takes the full attention of an
experienced attorney to get the very best outcome for you.
Isn't bankruptcy immoral, and just taking the easy way out?
Bankruptcy is a gut-wrenching experience that most people would rather avoid if they could. It is not easy. And it is not
immoral. Bankruptcy is the law of this land, not a gimmick or loophole. Bankruptcy is a law enacted by the U.S.
Congress, called Title 11, U.S. Code, (Bankruptcy Code), pursuant to the U.S. Constitution, (Article 1, Section 8).
Although there are those that may sneer at this, the fact is, bankruptcy is the law provided to the American People to deal
with situations where a person finds that they owe more money than they can afford to repay. Is it wrong to claim
bankruptcy? It is no worse and no better than claiming all of the deductions and exemptions on your tax return that you
are entitled to claim. You are not required to claim them, you are ENTITLED to. Likewise, you are ENTITLED to claim
bankruptcy if you owe more money than you can reasonably afford to repay. Morality is not for us to decide. With
regard to your legal rights, Bankruptcy laws are the first and most important line of consumer defense. It is your right to
have relief, and you should have an experienced attorney on your side to make it happen successfully.
Before considering bankruptcy, shouldn't I first try to seek out some consumer credit counseling?
You will. It is now required to file a certificate of completion from a credit counselling from an agency approved by the
court. Click here for an list of approved agencies in Texas.
| FREQUENTLY ASKED QUESTIONS |
The law firm of Jeffrey R. McCombs, P.C. has successfully represented individuals and commercial clients in
bankruptcy proceedings for over 11 years.
When you come in for your consultation, we will review your personal situation and explain how bankruptcy may affect
each of your debts, property and assets. We will not recommend bankruptcy unless you need it. Our aim is to provide
the very best counsel to our clients and we will be as objective as possible about your options.
At the end of your consultation, if you decide that bankruptcy is the best option, we will quote you a very reasonable
rate. Payment plans are available. You are under no obligation and whatever you decide.
If bankruptcy is your best option, we will help you decide how to proceed.
Chapter 7
If you are being crippled by high credit card debt or medical bills, Chapter 7 may be a way for you to discharge those
debts. Also called "liquidation," "debt wipe-out" or "fresh start," Chapter 7 cases are typically resolved in about 4
months after the filing date. You will receive a Bankruptcy Discharge and your obligation to the discharged debts will be
over. Together we determine if this is the best course of action for you.
Chapter 13
Chapter 13 is also known as a "wage earner plan," "reorganization" or "consolidation." If your income is determined to
be too high for a Chapter 7 procedure, but you are facing foreclosure on your home, auto repossessions or tax debts,
Chapter 13 can help give you some breathing room.. Most debtors who file Chapter 13, keep their assets. This may
also be the best option for joint husband/wife filings.
Foreclosure
Frequently, those who file bankruptcy and keep their homes are able to recover their lost equity. We can help you
protect your largest investment.
Prices
Typically payment plans begin at $25 per month for a Chapter 7. Because we do not file the bankruptcy in most cases
until the final amount is paid, pay as much or as little as you like per month. The filing fees required by the Court for
Chapter 7 currently is $299. In some cases, that can be waived by the Court or the Court may let that be paid in
installments. The total amount paid in attorney fees $1,600 plus filing fees.
In a Chapter 13, the attorney fees can be paid out as part of the plan. Our office requires that half the attorney fees and
the Chapter 13 filing fee (currently $274) be paid before filing with the remainder of the fees to be disbursed as part of
the plan.
bankruptcy proceedings for over 11 years.
When you come in for your consultation, we will review your personal situation and explain how bankruptcy may affect
each of your debts, property and assets. We will not recommend bankruptcy unless you need it. Our aim is to provide
the very best counsel to our clients and we will be as objective as possible about your options.
At the end of your consultation, if you decide that bankruptcy is the best option, we will quote you a very reasonable
rate. Payment plans are available. You are under no obligation and whatever you decide.
If bankruptcy is your best option, we will help you decide how to proceed.
Chapter 7
If you are being crippled by high credit card debt or medical bills, Chapter 7 may be a way for you to discharge those
debts. Also called "liquidation," "debt wipe-out" or "fresh start," Chapter 7 cases are typically resolved in about 4
months after the filing date. You will receive a Bankruptcy Discharge and your obligation to the discharged debts will be
over. Together we determine if this is the best course of action for you.
Chapter 13
Chapter 13 is also known as a "wage earner plan," "reorganization" or "consolidation." If your income is determined to
be too high for a Chapter 7 procedure, but you are facing foreclosure on your home, auto repossessions or tax debts,
Chapter 13 can help give you some breathing room.. Most debtors who file Chapter 13, keep their assets. This may
also be the best option for joint husband/wife filings.
Foreclosure
Frequently, those who file bankruptcy and keep their homes are able to recover their lost equity. We can help you
protect your largest investment.
Prices
Typically payment plans begin at $25 per month for a Chapter 7. Because we do not file the bankruptcy in most cases
until the final amount is paid, pay as much or as little as you like per month. The filing fees required by the Court for
Chapter 7 currently is $299. In some cases, that can be waived by the Court or the Court may let that be paid in
installments. The total amount paid in attorney fees $1,600 plus filing fees.
In a Chapter 13, the attorney fees can be paid out as part of the plan. Our office requires that half the attorney fees and
the Chapter 13 filing fee (currently $274) be paid before filing with the remainder of the fees to be disbursed as part of
the plan.
| SERVICES & PRICING |
TWO DFW AREA OFFICES The Law Office of Jeffrey R. McCombs, P.C. 3603 W. Pioneer Parkway, Suite B,Arlington, Texas 76013 817-860-2500 100 N. Central Expressway, Suite 400-18 Dallas, Texas 75201 |