Filing for Bankruptcy in Texas
Rather than losing everything, bankruptcy is a way to keep most of what you own and get back on your financial feet. At the law firm of Randolph N. Osherow, P.C., my goal is to make sure you come out of bankruptcy in better shape than you went in.
Call me at 888-846-5141 for a free, confidential consultation. I am an experienced bankruptcy lawyer who will answer your questions and personally guide you through this difficult but necessary process. For 25 years, I have represented individuals and business owners in San Antonio, Texas and across Bexar County.
The Bankruptcy Process
Initial consultation — I will sit down with you and determine if you qualify under the income means test for a Chapter 7 discharge of debt ("liquidation"), or whether you will need to file for a Chapter 13 debt repayment plan. I will ask you to bring certain documents to figure out the total picture of your income, assets, expenses and debts. In most cases, we can file within the same week.
Credit counseling — Changes in the federal bankruptcy law require you to take a course before filing with the U.S. Bankruptcy Court to understand what bankruptcy is and what alternatives you may have. This takes only a few hours, and can be done online or by phone. I can help you to choose an accredited agency.
Filing the petition — As soon as you file, creditor actions and harassment must stop. This includes phone calls, collection actions, repossession and foreclosure. Within 30 days, the court will hold a Meeting of Creditors. You must appear at your first meeting of creditors, where the bankruptcy trustee will review your file and ask any questions. In some cases, this lasts only 5 or 10 minutes, and I will always be there at your side.
Creditors have approximately 60 days to challenge your discharge. In consumer bankruptcies, they rarely object unless there is evidence you are hiding assets or otherwise defrauding them.
Discharge — As a general rule, the discharge is entered 30 days after the objection period. If your petition is successful, the whole process takes about 120 days from the date of filing. Before your case is discharged, you must complete another course on budgeting and debt management to help you avoid similar financial trouble in the future.
If your debts are discharged in a Chapter 7, you are free and clear. Those creditors cannot ask you for more money. If you are approved for Chapter 13, you must make a set monthly payment to the trustee for 36 to 60 months, based on your ability to pay. After you make all the payments, any remaining debt is discharged.
This is an overview of a process governed by complex laws and formulas. Every case is unique, and I work hard to maximize your exemptions, retain all your assets and ensure that your petition is accurate and complete.
Ready for a Fresh Start?
See our Frequently Asked Questions about debt relief through bankruptcy, or arrange your free consultation by contacting my San Antonio office. As a solo attorney, I personally handle every detail of your case.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
