Find a New Financial Beginning
While declaring bankruptcy may feel like the end of the world, it doesn’t have to be. In fact, it can offer a new financial beginning.
Richard Hughes will help you get a fresh start by fighting to save your property and assets. Set your next venture up for success with the top bankruptcy lawyer in Bullard, TX.
We can help if you're struggling with debt or fighting off debt collectors. With Richard Hughes's guidance, you can reclaim your financial future.
A Bullard Bankruptcy Lawyer Who Cares
IRS Tax Debt
Getting messages from the IRS? We can help. Our office outlines your options for paying and even reducing your tax debt to get the best possible outcome.
Tax Relief Wage GarnishmentBankruptcy
Rebuild your financial peace with the top bankruptcy attorneys in Jacksonville, TX. We walk you through the entire bankruptcy process.
Medical Debt
The idea of medical debt deters many Americans from getting the medical help they need. Our office helps you get out of medical debt so you can focus on recovering.
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Debt Consolidation
Consolidating your debt helps you regain financial stability by making your bills more manageable and reducing stress.
Foreclosure Defense
If you’re at risk of losing your home to foreclosure, our office fights for you when you need it most. Keep your house with experienced foreclosure defense attorneys.
Credit Card Debt
Get relief from credit card debit with help from our office. We fight to preserve your credit score, protect your assets, and keep your financial reputation in tact.
Chapter 7 vs. Chapter 14 Bankruptcy
How you declare bankruptcy can significantly impact how your debt is handled.
If you file Chapter 7 bankruptcy, your assets are liquidated and your debts are subsequently discharged. For Chapter 13, your debts are repaid via a payment plan.
Richard Hughes can help you understand which option is best for you and guide you through the process.
About Chapter 7 Bankruptcy About Chapter 13 Bankruptcy
We’re Your Guide to Bankruptcy Laws
Richard Hughes will guide you through all the confusing bankruptcy laws to get the best outcome for you. Under federal law, you may be able to stop:
- Repossessions
- Lawsuits
- IRS Garnishments
- Foreclosures
- Creditor Harassment
- Levies
Get Debt Relief With the Right Bankruptcy Lawyer
Is paying the monthly bills becoming too much? Are you feeling overwhelmed by debt?
Richard Hughes can help you start a new financial beginning.
We’ve helped countless individuals and businesses find debt relief by guiding them through bankruptcy laws.
We can help you too. Schedule your free consultation today.
Frequently Asked Questions
What is bankruptcy?
Bankruptcy is a federal legal process that offers individuals and businesses a way to get relief from overwhelming debt. It allows you to either eliminate certain debts entirely or create a structured repayment plan when you can no longer keep up with your financial obligations.
Do I qualify to file for bankruptcy?
Eligibility depends on the type of bankruptcy you plan to file.
For Chapter 7 bankruptcy:
- Your six-month average income must be lower than the median income for a household of a similar size.
- You cannot have filed for Chapter 7 in the past 8 years or Chapter 13 in the past 6 years.
- If you previously filed for bankruptcy and your case was dismissed, you must wait at least 181 days before filing.
- You must complete an approved credit counseling course within 180 days of filing.
For Chapter 13 bankruptcy:
- You must have enough income to make regular monthly debt payments.
- Your unsecured debts (such as credit cards or medical bills) must be under $465,275.
- Your secured debts (such as mortgages or car loans) must be under $1,395,875.
- You need to provide four years of state and federal tax returns.
- An approved credit counseling course must also be completed within 180 days before filing.
What is the difference between Chapters 7, 13, and 11?
Chapter 11 bankruptcy is designed for business entities and high-income individuals, while Chapter 7 and 13 bankruptcy are made for individuals.
Chapter 7 discharges your unsecured debts, such as credit cards and medical expenses. Chapter 13 bankruptcy has you pay part of your debts through a monthly repayment plan.
Do I need a lawyer to file for bankruptcy?
Legally, you can file without an attorney, but it’s not recommended. Bankruptcy involves complex paperwork, strict deadlines, and possible court appearances. A skilled bankruptcy lawyer can help you avoid costly mistakes, minimize the assets you’re required to liquidate, and ensure your filing is accepted.
Do I have to give up all of my property?
No. You may be able to file for property exemptions that allow you to keep essential property such as your home, vehicle, retirement accounts, and certain personal belongings. If you own property that isn’t exempt, you may consider Chapter 13 reorganization to avoid the forfeiture of your property.
Can I save my home?
Yes. Filing for bankruptcy temporarily stops foreclosure proceedings. If you’re behind on mortgage payments, Chapter 13 allows you to catch up by including those missed payments in a structured repayment plan.
What debts are covered by bankruptcy?
Bankruptcy can discharge many unsecured debts, including:
- Credit card balances
- Medical bills
- Student loans
- Certain back taxes (if they meet specific criteria)
However, secured debts (like mortgages or car loans) generally can’t be discharged.
Will creditors still come after me?
When you file with a United States bankruptcy court, a stay goes into effect. This stay requires creditors to immediately stop all legal action and debt collection, including foreclosures, repossessions, and any other attempts to collect a debt.
Can I pay some debts and discharge the rest?
No. Bankruptcy requires you to list all of your debts. You cannot selectively pay some creditors while discharging others. It is an all-or-nothing legal process, though certain types of debts may be treated differently depending on the chapter you file.
Does my spouse also have to file for bankruptcy?
Not always. If most of your debts are joint debts, you will likely need to file together. However, if the debts are spread between you and your spouse, you may be able to file individually to protect some assets.
Can I file for bankruptcy if I’ve previously filed?
Yes, you can file more than once, but there are time limits between filings. The waiting period depends on the type of bankruptcy you previously filed (Chapter 7 or Chapter 13) and the type you wish to file now. Our Longview bankruptcy attorneys can review your prior filings and explain your eligibility and best options.
Will everyone know that I filed for bankruptcy?
Bankruptcy cases are part of the public record, which means anyone can legally request the information. However, these records are not easily searchable, and most people never take the time to look. Unless you tell them, it’s unlikely that friends or neighbors will ever find out.
Will my credit recover after bankruptcy?
Yes. Bankruptcy gives you a financial fresh start. While it will appear on your credit report for several years, you can begin rebuilding credit immediately by paying bills on time, avoiding new debts you can’t afford, and using secured credit cards responsibly.