Alternatives to Bankruptcy in Texas
• Bankruptcy Areas •
Austin Bankruptcy Law Attorney
At the law firm of Hickson Law, PC, we understand that all the myths and misconceptions about bankruptcy often cause people to avoid this option. Instead, people turn to the various alternatives. Unfortunately, these people find out too late that the only surefire way to overcome debt is by filing Chapter 7 bankruptcy or Chapter 13 bankruptcy. They are strung along by a business that makes promises it has no legal way to keep. All the while, their debt problem snowballs. In the end, they are left out in the cold by the company they trusted.Hickson Law, P.C. features an experienced Consumer Bankruptcy Certified Attorney - certified by the Texas Board of Legal Specialization. She has been helping people in Austin and throughout Texas since 1991. She will not leave you out in the cold. She will help you find a resolution to your debt problem.
Educate Yourself About the Alternatives to Filing Bankruptcy
Elizabeth Hickson is honest and straightforward about the strengths and weaknesses of the bankruptcy process. Can the same be said for the people on television advertising bankruptcy alternatives?
Debt negotiation certainly seems like a good idea on the surface. Unfortunately, there is one major flaw: your creditors have no reason to comply with negotiation requests. The companies that offer to negotiate with your creditors have no legal leverage and are unlikely to get all of your creditors to participate. They may not be able to get any to participate. Of course, they will string you along as they attempt to.
Loan modification is also a great idea, from your perspective. Your lender may disagree. While attempts are made to make some sort of modification, your debt piles up. If you are among the few who convince your lender to make a major modification, you may be surprised to learn that any debt that is forgiven ends up counting as income that you will be taxed for.
It is important to remember that, unlike lay people and the attorney representing the creditors, your attorney has an ethical obligation to act only in your best interest.