Texas City Chapter 7 Bankruptcy Lawyers
Over the course of the 20th century, consumer debt became widely accepted as a fundamental part of the financial system. The introduction of credit-based purchasing enabled more families than ever to achieve a standard of living that they may never have dreamed possible. As a result, many people took on payment obligations without fully considering the terms or their ability to repay. Much like them, you may now find yourself at a crossroads, as debts that were once manageable are beginning to spiral out of control.
Chapter 7 bankruptcy offers an effective way to remedy this problematic situation for some individuals, families, and businesses. Contact the Texas City Chapter 7 bankruptcy attorneys of Gipson, Norman & Root at 800-291-0898 to learn more.
What Debts are Dischargeable
The value of a Chapter 7 bankruptcy is its ability to discharge a wide variety of debts, effectively ending a creditor’s right to take any further action to collect. The Bankruptcy Judge appoints a Trustee who then oversees a bankruptcy sale, in which some of a debtor’s property may be sold to recoup funds that can be distributed to creditors. Some debts that can be satisfied in this manner include:
- Credit Card Debt
- Business Debts
- Personal Loans
- Medical Debts
Contact Us
Living under the menacing clouds of debt can be intensely stressful, and the longer you remain there, the worse the situation becomes. For a brighter day, contact the Texas City Chapter 7 bankruptcy lawyers of Gipson, Norman & Root at 800-291-0898.
