Bankruptcy Key Areas

Frequently Asked Questions

San Antonio Bankruptcy Attorney

How do I know if bankruptcy is right for me?

The only person that can truthfully know if bankruptcy is right for you is you! Filing for bankruptcy is a personal decision you should make with your loved ones after consulting an attorney. After an attorney reviews your current financial status, he or she can give you an opinion as to whether or not bankruptcy is right for you, as well as which type of bankruptcy would best serve your particular situation.

Will bankruptcy discharge lawsuits or judgments for negligence or wrongful death?

Generally lawsuits or judgments not involving willful or intentional conduct are subject to discharge in bankruptcy. This includes suits against builders, doctors, dentists, farmers and other professionals for ordinary negligence.

Will filing for bankruptcy destroy my credit?

Although a bankruptcy will appear on your credit report for 10 years, it does not mean you will never be able to obtain credit again. In fact, you may be able to start building credit again within a few years after your case has been discharged. An experienced San Antonio bankruptcy attorney like Martin Seidler can inform of ways in which you can rebuild your credit after filing for bankruptcy.

What is the difference between Chapter 7 and Chapter 13 bankruptcy?

Chapter 7 bankruptcy works by liquidating a person’s non-exempt assets in order to pay off his or her creditors. After all of a debtor’s creditors have been repaid, the bankruptcy court will begin to discharge all of the debtor’s dischargeable debts. Instead of a liquidating a debtor’s assets, Chapter 13 bankruptcy works by consolidating all of a debtor’s unpaid debts into one lump sum, which the debtor will pay off over the course of three to five years. As the debtor makes payments, the bankruptcy trustee will distribute the money to his or her creditors.

My house is in foreclosure. Can you help me?

There are many effective ways in which attorney Martin Seidler can help prevent your home from going into foreclosure. Whether through bankruptcy, a short sale, a loan modification, or some other method, Mr. Seidler can help you work towards a solution that allows you and your family to stay in your home.

What is Redemption?

Redemption allows a debtor to “buy back” property from a lienholder by paying its value. This means that a bankruptcy debtor who owes $12,000.00 on a four year-old car worth only $3,000.00, can pay $3,000.00 to “redeem” the vehicle from the lien and obtain a clear title.

Where can I file for bankruptcy?

The place you can file for bankruptcy is called venue. Proper venue for a bankruptcy case is where you have lived for the majority of the six month period before the bankruptcy case is filed. Proper venue for a business may be where the business is located or where its assets are located.

I’ve lived in several states, what state’s exemptions apply when I file for bankruptcy?

Where you have lived in several states you must use the exemptions of the state in which you have lived for the last two years. For example a 5 year Florida resident moves to Texas to find work and then decides to file for bankruptcy 4 months after settling in Texas. The debtor must use Florida exemptions and not Texas exemptions in his bankruptcy case.

For more information about bankruptcy and your rights under the law, contact San Antonio bankruptcy attorney Martin Seidler today!

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The LAW OFFICES OF MARTIN SEIDLER serves clients throughout South and Central Texas including San Antonio, New Braunfels, San Marcos, Kyle, Buda, Austin, Bastrop, Menard, Llano, Marble Falls, Georgetown, Gonzales, Boerne, Floresville, Laredo Brackettville, Eagle Pass, Pearsall, Crystal City, Hondo, Uvalde, Del Rio, Burnet, Leakey, Rocksprings, Karnes City, Nixon, Comfort, Junction, Kerrville, Fredericksburg, Ingram, Hunt, Mason, Junction, Seguin, Johnson City, Giddings, and Corpus Christi.