Bankruptcy Attorneys in Dallas, Texas

DO YOU NEED A FRESH START?

You have taken the first step in researching bankruptcy and getting your debts under control and this is a Big Step. The Shawn Jaffer Law Firm and Attorney Shawn Jaffer is consumer protection attorney who will help you achieve financial freedom from your debts, creditors, and help put an end to your debt problems through bankruptcy.

Shawn Jaffer provides a completely free bankruptcy consultation and a review your circumstances and then he provides you with options. Once you understand the process and decide to move forward with the bankruptcy, Attorney Shawn Jaffer and his staff will guide you every step of the way and get your ready for financial freedom from your debt problems through either a chapter 7 Bankruptcy. We will help you get your life back and get your back on the right track for success with your fresh start.

A bankruptcy discharge can resolve credit card debts, lawsuits, repossessions, stop foreclosures, and other debt problems.

Bankruptcy May Be the Right Option!

Sometimes when you get in over your head bankruptcy may be the right solution. In Texas, when you file a bankruptcy petition you can have a lot of your debt discharged (cancelled) by the court. If you own property and real estate most it can be exempt under bankruptcy, which means you get to keep it.

Bankruptcy Stops All Lawsuits Against You!

Dischargeable (Cancellable) Debts:
* Credit Card Debts
* Medical Bills
* Lawsuit Judgments Against You
* Apartment Debts
* Leases and Contract Debt
* Car Repossession Debt
* Personal Loans and Payday Loan Debt
* Most debts arising from a Car Accident (as long as you were not intoxicated).
* Debts from Promissory Notes

Texas Homestead Exemption:
In Texas, you have an unlimited homestead exemption for your primary residence. That means the equity in your home is protected in a bankruptcy proceeding and your home is NOT sold off to pay off your debts.

Texas Motor Vehicle Exemption:
Texas law protects the entire equity and value of your car(s) per driver licensed person in your household. That means if you, your spouse, and a child own three paid off cars, those cars will NOT be sold off to pay your debts in bankruptcy.

Texas Personal Property Exemptions:
Personal Property is non-real estate property that is protected under Texas law during bankruptcy.
* You can exempt $50,000 in personal property if single without a family.
* You can exempt $100,000 in personal property if you are married or single with a family.
Personal property includes things such as: Furniture, home furnishings, up to 2 firearms, jewelry, clothing, food, burial plots, animals and livestock, sporting equipment, health savings accounts, and other personal property.

Retirement Accounts & Pensions Exemptions:
All tax-exempt pensions and retirement accounts are exempt from liquidation in a bankruptcy. This includes IRA accounts, 401k accounts, pension plans with your employer.

Insurance Exemptions:
Life, health, accident insurance and annuity benefits including cash value of life insurance policies is exempt and protected in Texas during a bankruptcy proceeding. However, lawsuit proceeds are not protected in bankruptcy.

What Debts are NOT Dischargeable in Bankruptcy:
* Child Support & Alimony
* Debts for willful and malicious injury to another person or property.
* Debts for injury or death to another person by operation of a motor vehicle while intoxicated from alcohol or other substances.
* Recent unpaid taxes, however unpaid taxes from several years ago may be discharged.
* Student Loans are very difficult to discharge in a bankruptcy.
* Any debt you did not list in your bankruptcy petition.

You Need to Qualify for a Chapter 7 Bankruptcy
Qualifying for a bankruptcy under chapter 7 requires a income means test. That simply means your income based on your household size should be below a certain amount over the last six months.

Texas Median Income Levels

Texas Median Income Standards for Means Test for Cases Filed On or After May 1, 2021
Household SizeMonthly IncomeAnnual Income
1$4,412.75$52,953.00
2$5,940.58$71,287.00
3$6,425.83$77,110.00
4$7,433.00$89,196.00
5$8,183.00$98,196.00
6$8,933.00$107,196.00
7$9,683.00$116,196.00
8$10,433.00$125,196.00
9$11,183.00$134,196.00
10$11,933.00$143,196.00

If you have any further questions please feel free to call for a free consultation to go over your options.

(877) 371-1001
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