For people who are in debt, bankruptcy is considered as a second chance. When you are planning to file for bankruptcy, it is necessary to hire a bankruptcy attorney in Texas. The attorney is liable to handle the bankruptcy proceedings. They will advise you regarding your financial future and also will make you aware of the process which is taking place. When looking for attorneys, the most essential quality you need to seek is their experience. Also, they should possess a good knowledge in the bankruptcy laws. It is more advantageous if they practice in your state since they will be updated on the laws and familiar with court proceedings.

[b]Chapter 7 Bankruptcy[/b]
Generally, there are two types of bankruptcy for individuals, namely, chapter 7 and chapter 13. Chapter 7 bankruptcy is also termed as liquidation bankruptcy and straight directories. The trustee is liable to sell your nonexempt property by the time you file for bankruptcy. To pay the creditors, this can be used. This is applicable only in rare cases. This is so because sometimes the debtor does not hold any non- exempt property.

When your case is a typical one, after 90 days you will be relieved from your debts. But, past due child payments, some taxes, and student loans do not come under the debts which are discharged and you must pay them.

[b]Chapter 13 Bankruptcy[/b]
In chapter 13 bankruptcy, the debtor will file a payment in the bankruptcy court. The amount paid to the creditors in chapter 13 should total the amount which would have resulted when paid to the creditors under chapter 7. Here in this chapter, the payment will be made to the trustee and they will settle the creditors. You are allowed to make the payment full or can pay at the end of the five year plan.

Filing chapter 13 has also some restrictions. When the person has filed for bankruptcy in the preceding 180 days, when the person does not follow the orders of the court which leads to the dismissal of the bankruptcy case, and if the person dismissed their bankruptcy case when asked for relief from an automatic stay by the creditor can cause the person to be non eligible for filing chapter 13 bankruptcy. For more detail, visit [b]https://tylerbankruptcylawyer.com/texas-bankruptcy-attorney/[/b]