Austin, TX – Lincoln-Goldfinch Law, a bankruptcy and immigration attorney, understands the financial uncertainty that affects most people since the COVID-19 pandemic altered the medical landscape and crippled most economies. In Texas, people who experienced job losses or pay cuts fell into deep debt, resulting in lost businesses, final notices, numerous calls from debtors, and anxiety for the future. With this in mind, bankruptcy attorneys create custom plans for clients with no capacity for debt payment to give them a fresh start and peace of mind. The cases they handle go through federal courts under a central set of rules codified by the US Bankruptcy Code.
When a person files for Chapter 7 bankruptcy, they liquidate their assets to pay off all or part of their debt. While it’s rarely the first recommendation for people seeking debt relief, the chance to start over with a blank slate is tempting. For this reason, the law provides eligibility conditions a person must meet, which needs legal guidance to understand. Bankruptcy attorneys at Lincoln-Goldfinch Law examine if a client has filed for Chapter 7 bankruptcy in the past, recommend a pre-bankruptcy credit counseling course, and conduct a means test to check if a client has available income to pay their debts.
When the attorneys file for Chapter 7 bankruptcy, they ensure that a petition contains all the information a court needs to determine a debt discharge. For example, the petition has a client’s asset transfers, income, assets, and debts within the last decade. Once a court examines the information and certificate provided by the credit counseling agency, it issues an automatic stay to call off creditors. It bars them from calling, texting, emailing, visiting a client’s home, foreclosing, or repossessing properties while a petition is pending. After the enforcement of the automatic stay, the attorneys oversee financial disclosure, creditor meetings, financial management courses, and the bankruptcy discharge process.
Lincoln-Goldfinch Law is a chapter 13 attorney Austin, passionate about creating a sustainable payment plan that allows clients to repay their debts within a three/to five-year period. Chapter 13 bankruptcy saves a client’s family home from foreclosure and fixes delinquent payments without dealing with multiple debts. A bankruptcy trustee receives the payments and distributes them to creditors, protecting the client from harassment or constant contact. When filing for Chapter 13 bankruptcy, a client must complete the credit counseling course before seeking legal guidance for filling out the necessary forms, drafting a plan, or filing a petition. Then, the attorneys intervene to appoint a trustee, facilitate meetings or hearings, and streamline the discharge.
Lincoln-Goldfinch Law believes in giving clients every opportunity under the law to get a fresh start and perspective on their finances with transparency, empathy, compassion, and honesty. In addition, bankruptcy attorneys create forward-looking legal solutions that empower, enlighten, and uplift people to make informed decisions about their futures. Check out their website to learn more about their Austin, TX office.
To schedule a free case evaluation, call (855) 502-0555. Lincoln-Goldfinch Law is located at 1005 E 40th St, Austin, TX, 78751, US.