With lower oil prices and fewer oil related jobs now in the Eagle Ford Shale area, many find themselves in serious debt. Those new trucks and homes are harder to pay off now. The creditors keep calling, but the debt just keeps growing. In the U.S. we have a system of bankruptcy law that provides relief and a fresh start to those who are in financial trouble. Consumer bankruptcy is one of the alternatives made available for financial distress. Before taking advantage of consumer bankruptcy processes, you need to examine the options for dealing with your financial problems and decide which course of action is best for you. Our attorneys are well-versed in this and other consumer rights issues, and can help you make the right choice.

Is Consumer Bankruptcy Right For You?

Some people in financial trouble can improve their situation by negotiating directly with creditors. Others get help from a local financial counseling program or a consumer credit counseling service with experience in negotiating with creditors and formulating and establishing repayment plans.

For some people, some form of consumer bankruptcy may be the only realistic alternative. Choosing this remedy is not always easy. As a first step, consider the pros and cons of filing for bankruptcy. Then consider which type of consumer bankruptcy is right for you: Chapter 7 (“straight bankruptcy”) or Chapter 13 (sometimes called “wage earner bankruptcy”). Each of these types of bankruptcy is a section of the federal Bankruptcy Code, under which bankruptcies are filed all over the country. The Law Offices of Alex R. Hernandez Jr. has handled many consumer bankruptcy filings. Schedule an appointment with our consumer law experts.

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