12 Top Bankruptcy Law Firms in Austin, TX

Use this list to find the best Bankruptcy attorneys in Austin, TX. We suggest you contact at least three firms to determine which one best fits your budget and comfort.

Recommened bankruptcy law firms near you

Good to know...

Bankruptcy and debt can be difficult and stressful, so we found some information which might help you.

How do I know if I should file for bankruptcy?

Your circumstances determine whether to file for bankruptcy. If you are behind on your mortgage or your car payments, and you are unable to make them up, or if a foreclosure or repossession is pending, then filing for bankruptcy is your only option. Reorganization under Chapter 13 may allow you to keep your home and your car while reducing your debt.

You may need to file a Chapter 7 bankruptcy if you are sued or if credit card payments and medical bills have put you so far into debt that you cannot see a way out. If you are only paying the minimum amount on your bills, it may take 20 years to pay off your debt. Source: chbankruptcy.com

Do people know if I file for bankruptcy?

The filing of a bankruptcy petition is a public record; however, unless you are a high-profile individual, newspapers will not report it, and your creditors are usually the only people to learn of the filing. A notice of your filing will be sent to your creditors. Employers in Chapter 13 reorganizations will receive a pay order.

Can creditors garnish my wages in Texas?

Most of the time, no. Many people believe that wage garnishment is possible, and creditors know this and use it to collect debts. You may be repeatedly contacted and told that if you do not pay what you owe, your paycheck will be taken. In most cases, they will not be able to do this, but they want to scare you into taking action as soon as possible. If you are receiving calls, letters, or texts from creditors, you should consult an experienced bankruptcy attorney as soon as possible. In addition to preserving some options available to you, this will help you protect your assets and end the harassment.
Source: bankruptcyattorneyofaustin.com

Is discharged debt taxable?

Discharged debts have no income tax consequences and are not included in gross income during bankruptcy. With other debt relief programs you could receive a tax bill after your debt has been canceled, but that's not the case with bankruptcy.
Source: allmandlaw.com

Is it possible to get credit again?

After filing bankruptcy, you are more likely to get credit than if you do not file at all. That's because bankruptcy removes the debt you can't pay. By doing this, you are in a better position to take on more credit and repay any outstanding debts. Furthermore, having a lower debt burden makes you more attractive to lenders.

What are the effects of bankruptcy on my job?

It is illegal for an employer to fire or discriminate against an employee because he or she has filed for bankruptcy. In addition, employees cannot be demoted, have their salaries reduced, or be removed from their responsibilities as a result. Employers may suffer consequences if they discriminate against or fire employees who choose to file for bankruptcy.
Source: allmandlaw.com