Texas Bankruptcy Blog : Texas Bankruptcy Lawyer & Attorney : Fears Nachawati law Firm : Chapter 7, Chapter 13, Consumer Bankrutpcy : Dallas, Fort Worth, Austin, Houston, San Antonio

It’s not a big surprise to people in San Antonio, Texas, (and the rest of the country) that we are in the middle of a foreclosure epidemic. Some states like Texas, California and Florida are suffering much more than others. But regardless of the reasons people are facing foreclosure--loss of income, slow business or mismanagement of finances--there is something homeowners can do to gain control and avoid losing their home. For many the best option is to file for a Chapter 13 bankruptcy. It will give you some control over your home loan and time to restore your finances.

When you file for bankruptcy in San Antonio, the lender cannot foreclose on or sell your home. A Chapter 13 bankruptcy also gives you the opportunity to repay any arrears so you can get caught up. You may even be able to lower your monthly payment by removing a second mortgage. Filing for bankruptcy will also keep any other creditors from taking action against your paycheck or assets. If your goal is to save your home, it is advisable you speak with an attorney experienced in bankruptcy law as soon as possible.

For a free consultation on how Chapter 13 can help you save your home, contact bankruptcy law firm, Fears | Nachawati, by calling toll free 1-866-705-7584 or by e-mailing info@fnlawfirm.com.

In many ways the new credit card law, the Credit Card Accountability Responsibility and Disclosure Act of 2009 or Credit CARD Act of 2009* can help you with future credit card debt. It will help you against predatory lending practices and will help keep you in check by limiting your credit availability. But if you are looking for a fresh start right now, filing for Chapter 7 may be the best way to relieve the heavy burden of excess credit card debt.

When you file for a Chapter 7 bankruptcy in San Antonio, Texas, your credit card debt will be dismissed. You will get the fresh start you need as well as the opportunity to build credit in a more consumer friendly environment under the new Credit CARD Act of 2009.

If you are feeling the stress of too many credit card bills and not enough money to pay them, then a Chapter 7 bankruptcy may be the best option for you.  For a free bankruptcy consultation contact San Antonio Bankruptcy law firm, Fears | Nachawati, via toll free phone at 1-(866) 705-7584 or via e-mail at info@fnlawfirm.com. 

*Credit CARD Act of 2009 is a federal law passed by the United States Congress and signed by President Barack Obama on May 22, 2009. Briefly, it is comprehensive credit card reform legislation that aims "...to establish fair and transparent practices relating to the extension of credit under an open end consumer credit plan, and for other purposes."

Many people are afraid to file for bankruptcy because they feel it may ruin their chances to get a loan in the future. The reality is that if you are behind in payments or have judgments hanging over you, your current credit score is probably too low to get a loan. Ironically enough, filing for bankruptcy can be the best thing you can do for your credit.

When you file for a Chapter 7 bankruptcy in San Antonio, most if not all of your debts will be discharged. You will no longer owe payments on old debts.

For more specific information on a Chapter 7 bankruptcy, a San Antonio bankruptcy lawyer can answer questions such as:

How long will a bankruptcy stay on my credit report? While a bankruptcy can stay on your credit report up to 10 years, most lenders only look at the last 2-3 years on your credit report.

Will a bankruptcy keep me from getting a loan? The more important issue should be to work towards improving your credit after you file for bankruptcy. If you can show a lender that you can afford to buy something and have a good credit report you will probably get the loan.

For more information on how a Chapter 7 bankruptcy can help you have a fresh start, contact San Antonio bankruptcy law firm, Fears | Nachawati Law Firm, for a free bankruptcy consultation via toll free at (866) 705-7584 and via e-mail at info@fnlawfirm.com.