In Bankruptcy In The News, Blog

Dallas, the third largest city in Texas, is the economic centre of Dallas-Fort Worth-Arlington metropolitan area. Cases of bankruptcy filing, as the statistics reveal, are on the rise in Dallas. According to the data published by the United States Bankruptcy Court, there was a 35% increase in the bankruptcy cases filed in the Northern District of Texas. Dallas too falls in the same region.

Dallas Bankruptcy Lawyers: Why to Hire

The law permits people to fight their own case in a court but Dallas Bankruptcy attorneys would be more familiar with the conditions that are specific to that area. Further, the bankruptcy laws in Texas are complex. You would need the assistance of professional bankruptcy lawyers to decide the strategy and approach. A layperson would feel confused by the complexities so, the best thing to do is to hire a professional lawyer to guide one through the legal processes.

Dallas Bankruptcy Attorneys: How to Hire

These tips will help you to decide on which Dallas bankruptcy attorneys to choose:

  • Hire a lawyer with considerable experience in Bankruptcy Law. A general lawyer, with no experience in bankruptcy cases, may lack the expertise to handle the case.
  • Request the Local Bar Association to provide you with a list of bankruptcy lawyers along with their credentials.
  • Sign a written fee agreement with your lawyer after thoroughly reading the clauses. An oral agreement could cause problem if a dispute arises later.

Dallas Bankruptcy Attorneys: Fine Points of Law

Here are some points to consider:

  • State the median income determined by the Census Bureau which is used for bankruptcy filings.
  • A list of permissible expenses is provided. You could claim the amount as deductions from your current monthly income.
  • You may not be considered eligible for Chapter 7 (straight) bankruptcy if your current monthly income, after deducting applicable expense amounts, leaves a minimum $100 per month to be repaid to your creditors.
  • Persons who have filed under Chapter 13 are treated on the basis of their gross income.
  • The law makes it mandatory for the applicants to receive credit counseling within the 6 months prior to filing.
  • The law offers the ability to stop creditors through ‘automatic stay’.

Malaise Bankruptcy Law Firm is a reputed name in tackling all kinds of legal issues pertaining to bankruptcy law in Dallas. Attorneys associated with this firm have years of experience dealing with bankruptcy cases.