Consumer And Business Bankruptcy Representation

If you are in serious debt, don't be afraid to seek help. The anxiety, stress and fear that debts create can endanger not only your finances but your relationships and health as well.

At Olson Nicoud & Gueck, LLP, in Dallas, Texas, our lawyers assist clients across the DFW Metroplex and North Texas who are experiencing financial difficulty by filing and completing consumer and business bankruptcies. We often receive referrals to handle complex bankruptcy cases, a forte of our law firm.

Chapter 7, Chapter 11 And Chapter 13

There are several types of bankruptcy (called "chapters) that address the needs of individuals and businesses. Choosing the right type of bankruptcy is just as important as making the decision to file for bankruptcy: The right attorney and the right bankruptcy chapter can make a world of difference in your final outcome.

Our law firm has decades of experience in bringing financial relief to working people, homeowners, business owners, and others using these and other tools:

  • Chapter 7 bankruptcy. This common type of consumer bankruptcy is the best fit for most of our clients who are not seeking to restructure existing debt. Chapter 7 filers will seek to eliminate most debts such as credit cards and loans. Mortgages and car loans can be continued (called "reaffirming") or the collateral surrendered and any balance discharged. Start over with a clean financial slate.
  • Chapter 11 bankruptcy. Chapter 11 allows businesses to restructure their debts so they can continue operating. Chapter 11 is extremely complicated, so it is important to retain an experienced bankruptcy attorney who has completed Chapter 11s in the past.
  • Chapter 13 bankruptcy. This versatile form of bankruptcy is popular among consumer and small-business clients. It allows small businesses and consumers to eliminate some debts while restructuring others as part of a supervised three- to five-year debt repayment plan. As with Chapter 7, Chapter 13 enables filers to temporarily stop foreclosures of their homes and/or business properties; however, unlike Chapter 7, it enables filers to restructure mortgages and auto loans. This option should be considered if you wish to keep specific assets or have enough income that you can realistically pay something on your debts, if provided the right terms. Chapter 13 reorganized debt payments are often significantly less than payments on the original debts.

Stop Collection Phone Calls

While much attention is focused on the financial advantages of bankruptcy, there are other benefits. Once you file for bankruptcy, an injunction called an "automatic stay" is immediately put in place. The automatic stay prohibits creditors from garnishing your paycheck, harassing you for payment, seizing your property, or foreclosing on your home or business. By the time your bankruptcy goes through, the debts that led to these issues have usually been discharged or folded into a payment plan.

Bankruptcy Attorneys Serving Plano, DFW And All Of North Texas

Each bankruptcy chapter holds specific advantages for filers under specific circumstances. Our attorneys can help you decide which type of bankruptcy will work best for you. For more in-depth information about how you can get out of debt and reclaim your finances, contact a lawyer at Olson Nicoud & Gueck, LLP, in Dallas at 214-979-7300 or 800-708-7716.

For Creditors Only:

Olson Nicoud & Gueck LLP also represents creditors in bankruptcy cases. We can help ensure that your company receives the proper priority when a debtor files a Chapter 13 bankruptcy. We can represent you when there is good reason to contest inclusion of a debt in a bankruptcy filing.

We have over two decades of experience as a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.