Top McKinney, TX Business Bankruptcy Lawyers Near You
2425 N. Central Expressway, Suite 231, Richardson, TX 75080
3500 Maple Avenue, Suite 1200, Dallas, TX 75219
5700 Tennyson Pkwy, Suite 371A, Plano, TX 75024
901 Main Street, Suite 4800, Dallas, TX 75202-3758
3131 McKinney Avenue, Suite 500, Dallas, TX 75204
1901 Central Drive, Suite 704, Bedford, TX 76021
1717 Main Street, Suite 5400, Dallas, TX 75201
2501 N Harwood St, Suite 1800, Dallas, TX 75201
100 Crescent Ct, Suite 1200, Dallas, TX 75201
2000 McKinney Avenue, Suite 1700, Dallas, TX 75201
4550 Travis St, Dallas, TX 75205
101 East Park Blvd., #600, Plano, TX 75074
1700 Pacific Avenue, Suite 4545, Dallas, TX 75201
2850 N Harwood St, Suite 1100, Dallas, TX 75201
100 Crescent Court, Suite 700, Dallas, TX 75201
500 N. Akard Street, Suite 4000, Dallas, TX 75201
8848 Greenville Ave, Dallas, TX 75243
515 E. Border, Arlington, TX 76010
2500 Dallas Pkwy, Suite 600, Plano, TX 75093
4514 Cole Avenue, Suite 600, Dallas, TX 75205
5900 S Lake Forest Dr, Suite 415, Allen, TX 75013
1900 N Pearl St, Suite 1800, Dallas, TX 75201
1900 N. Pearl Street, Suite 1500, Dallas, TX 75201
12750 Merit Dr, Suite 520, Dallas, TX 75251
8226 Douglas Avenue, Suite 330, Dallas, TX 75225
McKinney Business Bankruptcy Information
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What Is Bankruptcy?
Bankruptcy is a legal process that allows people to get out from under debts that are causing serious financial harm. Through the bankruptcy process, you may be able to get rid of debts like medical bills, credit card bills, and other unsecured debts. Factors such as your income and whether you have assets that you can sell to pay off some of the debts are taken into account when filing for bankruptcy and will determine what happens.
What Happens When I File for Bankruptcy?
When you file for bankruptcy, you will be under a federal bankruptcy court’s supervision and protection. During this time, you, your lawyer, the court, and your creditors will work on a plan for discharging your eligible debts. Collectors will also be unable to repossess property and garnish your wages or bank accounts during this time.
How Much Does It Cost To File for Bankruptcy?
There is no easy answer to this question. The ultimate cost will be a mix of court filing fees and what you owe your attorney for guiding you through the process. What you owe will depend on how complicated your case is and whether there are any prolonged disputes with creditors. Most likely, however, the debt relief that comes with bankruptcy will outweigh any fees.
How Long Does Bankruptcy Stay on Your Credit Report?
A Chapter 7 bankruptcy filing will stay on your credit report for up to 10 years, while a Chapter 13 will remain for up to seven years. A bankruptcy filing will also harm your credit score. However, if you need to file for bankruptcy, it’s likely your score is not that high anyway, and your bankruptcy will give you a chance at a fresh start and time to rebuild your credit score.