Looking for a solution to your financial problems?

The Law Office of Eric A. Maskell can help. Attorney Eric A. Maskell has handled thousands of bankruptcy cases in his 7 years of bankruptcy practice and will give you the personal attention you need to address your financial problems. Bankruptcy is not always the only option, but if it is the best option for your particular situation, you will need an experienced and qualified attorney to represent you properly. Attorney  Eric A. Maskell review your situation and advise you as to whether Chapter 7 bankruptcy, Chapter 13 bankruptcy, or some other non-bankruptcy alternative is in your best interests. Not only will he look at your current situation, but also the long term affects of your financial decisions. If your personal or business finances are in disarray, call us and we will help you.

There are different chapters (types) of bankruptcy, the most common being Chapter 7 and Chapter 13. A Chapter 7 bankruptcy will discharge (cancel or eliminate) most unsecured debts and result in a fresh start. A Chapter 13 bankruptcy, or wage earner plan, allows you to restructure your debt and pay it back over a period of three to five years. There is also Chapter 11 bankruptcy, or business reorganization, primarily used by business entities to restructure and pay its creditors over a period of time. Each of these is explained in more detail below. If you feel that any of these situations apply to you, call our offices for a free consultation and we will go over your options. The financial distress that you are in now can be resolved, so don’t despair.

If you are experiencing financial problems you owe it to yourself to sit down and discuss your situation with an experienced bankruptcy attorney. All individuals have legal rights regardless of their financial position...............Law Office of Eric A. Maskell will protect and enforce those rights.

Chapter 7 Bankruptcy

Chapter 7 is mainly for individuals, but can also be filed by businesses. When a bankruptcy case is reviewed by a Chapter 7 bankruptcy attorney, it must first be determined which debts are likely to be “dischargeable” and which debts are not. A Chapter 7 will generally discharge medical bills, credit cards, unsecured loans, judgments, and some personal income tax debt. If it is determined by your attorney that most of your debt is not dischargeable, you may want to look at filing for Chapter 13 instead of Chapter 7. Determining if Chapter 7 is the most beneficial bankruptcy option for your situation requires careful analysis by an experienced bankruptcy attorney.

Chapter 13 Wage Earner Plan

If you have a steady job and have just gotten behind on your bills, you might want to look into a Chapter 13 bankruptcy. This is basically a restructuring of debt over a three to five year period to allow you breathing room to pay your debt to the best of your ability. The protections in Chapter 13 bankruptcy can help a homeowner prevent foreclosure and automobile owners avoid repossessions. A Chapter 13 bankruptcy attorney can help you determine if this is the right option for you. If not, there are still many other avenues to explore for getting your personal finances back on track. Call us and attorney Eric Maskell will go over them with you.

Chapter 11 Bankruptcy

Our Texas bankruptcy attorney can help you restructure your company under Chapter 11 to keep creditors off your back while you get on your feet again. Many companies are taking advantage of this option right now because the recession hit everyone pretty hard. If you are still standing, you have most likely seen the worst and have gotten through it. If you are buried in debt, but can see a light at the end of the tunnel, let us help you free up some of that incoming cash so you can breathe a little easier. Chapter 11 will enable you to pay off back bills over a reasonable period of time without falling any further behind on current bills. Call us for more information.

The Benefits of Bankruptcy for Individuals and Businesses

There is a stigma attached to the word “bankruptcy” which really doesn’t need to be there. A personal or business bankruptcy lawyer will tell you that it is one of the best things you can do for yourself when you get into financial trouble. Far too many people attempt to get out of debt by taking on more debt in the form of high interest loans. That is not the solution. Restructuring your debt and taking some credit counseling classes like those required now when you file for bankruptcy can help you get on solid ground for good, not just temporarily. There is a process involved to get there, but it is well worth the effort required. The bankruptcy lawyer at Law Office of Eric A. Maskell will help you. Call us today for your free consultation.