Talk with the attorney whose own story says, “There really is life after bankruptcy.”
With The Help Of Longview, TX Bankruptcy Attorney Mike Wallace…
You Can Say Goodbye To…
Relentless Bill Collectors
Stacks Of Unpaid Bills
Maxed Out Credit Cards
Plummeting Credit Score
General Questions Hard-Working Longview, TX Residents Have About Bankruptcy?
Will I be able to rent an apartment or house after I file for bankruptcy?
When looking to rent in Longivew, TX you need to know that a landlord can legally refuse to rent you an apartment because of a prior bankruptcy in your credit report. However, if you are presently renting a home or an apartment, your present landlord will typically renew your lease without running an updated credit report, and will probably not know that you filed a bankruptcy. If you are applying for a new lease, you may encounter some difficulties that can be overcome. 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.
Isn't Bankruptcy Unforgivable & Frowned Upon?
Bankruptcy Is Not Unforgivable
The word on the streets of Longview, TX is that bankruptcy is “the unpardonable sin”. Nothing could be further from the truth. 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 paying the minimum required payment on your credit card bills each month (generally about 2% of the outstanding balance), and the interest rate is 20%, it will take you 15-20 years to pay off a $10,000 debt!
Do you really want to be in this same financial situation in 20 years? 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.
Note: We tell all our Longview, TX clients that filing bankruptcy may not be the best thing. We go over your specific case thoroughly to decide if it’s right to file or if you need financial consulting and a plan to get you back to a good state.
If I file bankruptcy do I still have to pay income taxes?
No. In some cases you won’t have to.
When you file your federal tax return sometimes the IRS will consider you eligible to also file what is called an Offer In Compromise. This will allow you to pay much less in taxes for that year, or in some cases none at all depending on your situtation. This usually only applies with Chapter 7 filings.
About Mike Wallace
Mike and his wife are proud to represent the great people of Longview, TX. Mike is a graduate of Baylor University School of Law. For the last 9 years, Mike has dedicated himself to helping East Texans in financial difficulty since 2005, 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.”
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.
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.