Talk with the lawyer whose own story says, “There really is life after bankruptcy.”
The Bankruptcy Lawyer in Jacksonville Who Can Help You Say Goodbye To…
Relentless Bill Collectors
Stacks Of Unpaid Bills
Maxed Out Credit Cards
Plummeting Credit Score
Questions The People of Jacksonville, TX Have About Bankruptcy
Will I be able to rent an apartment or house after I file for bankruptcy?
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.
Isn't Bankruptcy Unforgivable & Frowned Upon?
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.
Isn't debt consolidation a better way?
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?
What About My Credit Score?
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.
I can only afford the minimum monthly payment on my credit cards and my balance keeps increasing. Can bankruptcy help me?
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.
If I file bankruptcy do I still have to pay income taxes?
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.
About Mike Wallace
As folks who have personally been there and done that when it comes to filing bankruptcy, Mike and his wife are honored to help the people of Jacksonville, TX, escape the crushing weight of debt, either through the bankruptcy process or with other sound advice.
“I believe in the principles that support life, God and family. When I’m not working with clients I’m enjoying time with my family and I enjoy the outdoors. In fact, I live on 40 acres of property that has been in my family since 1852.”
"You guys are great in helping me start over. you answer all questions quickly, and make me feel comfortable working with ya. I wouldn't hesitate referring you to someone in need of a great Attorney. Mike and Jill Wallace are the best. Thank You"
Mike and Jill helped me with my Chapter 13. I was so overwhelmed I just couldn’t think about what I needed to do next. They walked me through the process. I always felt like they communicated with me regarding what was happening. They were quick to reply to my texts when I had questions. I would have probably lost my house without their help.
I have had the pleasure of having the services of Mike Wallace and his staff. They were always very professional and curious. Mike followed through in all aspects of services he believed necessary for my case. I highly recommend his services.
How does chapter 7 bankruptcy work?
Is chapter 13 bankruptcy right for me?
I Am Here To Help You…
No matter how tough the road has been – your best days are still ahead. Let us give you the tools to get a fresh start and come out on top.
Without the burden of overwhelming debt, you can spend your money on the things you care about and plan your family’s future.
Leave a Legacy.
Execution of the knowledge that leads to long-term financial health can help you change your life and impact future generations.