Bankruptcy Attorney Serving Jacksonville, TX

If you are applying for a new lease in Jacksonville, TX, a bankruptcy in your credit history could cause some difficulties, as landlords can legally refuse to enter into lease agreements with persons who have filed a bankruptcy.

That said, those obstacles can often be overcome. For example, offering to make a larger security deposit may be enough to overcome the concerns of a potential landlord or showing that you have a good income with not a lot of other bills and expenses. Basically, they just need to be certain you will be able to pay your rent.

However, if you are currently renting a home or an apartment, your landlord will likely renew your lease without running an updated credit report, and will probably not know that you filed a bankruptcy.

Some folks believe that bankruptcy is “the unpardonable sin.” But that’s just not true. I know you have many concerns and we are happy to discuss them all with you through our free consultation.

Mike is also working on publishing his first book and it will answer this question and many others.

Most people choose to consolidate their debt and make large payments while their credit continually drops. With bankruptcy, your credit does take an initial hit, but continues to rise from the moment your debts are discharged.

Debt consolidation leaves you vulnerable to creditors and your credit will take much longer to rise to where it needs to be. Most importantly, it gives you a huge bill to pay each month. Who wants that?

We find on average a typical bankruptcy client’s FICO score will increase around one hundred points twelve months after discharge.

We have clients who saw there credit reach a “good” status within just 6 months. 

If you are only making the minimum required payment on your credit cards and if your interest rate is 20%, it will take you 15-20 years to pay off just $10,000 of debt!

For many people, that’s just not realisitc. Filing a bankruptcy with Mike Wallace will discharge these debts and allow you to get a “fresh start” and get on with living your life.

That said, filing bankruptcy may not be the best thing for you. But not to worry—during your initial consultation, we will give you the tools you need to make the best decision in your unique situation.

It depends.

When you file your federal tax return, the IRS may consider you eligible to also file an Offer In Compromise, which reduces (or, in some cases, eliminates) the amount you owe in taxes that year. This usually only applies with Chapter 7 filings.