If you answered yes to any of these questions, Black and White Law Firm, PC can help.
Phil Black has been practicing consumer bankruptcy law since 1995 in the West Central Texas area. The Black and White Law Firm, PC specializes in helping individuals, families, and small businesses navigate through difficult financial times.
We serve Big Country and Concho Valley areas including Abilene, San Angelo, Brownwood and surrounding areas of Texas. We are here to help you get through challenging financial situations.
If you find yourself suffering as the result of a personal injury, medical emergency, a divorce or employment shut down, filing for bankruptcy may be able to help you.
Whether you have filed bankruptcy in the past or this is the first time you have considered it, we can help walk you through the process and answer all of the questions you may have. You will receive a thorough consultation. We will go through all of your documentation and help you understand the process and the answers to any questions you have about filing bankruptcy. You will receive personal care and timely responses during your financial struggle.
A simple phone call or email can help you get the answers you need and start you on the road to financial recovery. Don’t hesitate to begin the path forward and allow the specialists at Black and White Law Firm, PC to help you. We offer flexible appointment times to meet your busy schedule and we are just a phone call away.
Call (325)-692-8100 today or fill out our online form to schedule a free, no-obligation consultation with Phil Black. He will take the time to assess your individual situation and recommend a course of action. Bankruptcy attorney Phil Black has the experience and expertise in state and federal bankruptcy law with a proven track record of helping clients get back on their feet through debt settlement or the bankruptcy process.
We understand that this financial crisis can affect every part of your life, so you can expect to be treated with compassion, dignity, and respect. Taking this step toward debt relief should be an empowering first step to the fresh start you deserve. With our compassionate staff and experienced representation, you, your family or your business can rest assured that we will help you find the legal solutions and the relief you need.
Bankruptcy is a legal process provided under federal law initiated when a person or business is unable to repay outstanding debt. The individual or business is able to get a fresh start by having debt forgiven while also giving their creditors some measure of repayment based on the individual’s or business’s liquid assets.
There are various types of bankruptcy, commonly referred to by their chapter within the federal law or Bankruptcy Code. For example, Chapter 7 relates to individual bankruptcy while Chapter 11 regards enabling businesses to reemerge after filing a reorganization plan.
All bankruptcy cases are handled through federal courts and administration over the case is often handled by a trustee or an officer appointed by the court to represent the debtor’s estate in the proceeding.
Typically reserved for individuals or businesses with few or no assets, Chapter 7 allows the debtor to sell any non-exempt items and use that money to repay some or all of their debt. Those with no valuable assets and only exempt property (such as a home, household goods, vehicle up to a certain value or tools used for a trade) may be eligible to dispose of all of their unsecured debt.
Those individuals who make too much money to qualify for Chapter 7 bankruptcy will usually file under Chapter 13. This type of bankruptcy is also known as a ‘wage earner’s plan.
In this type of bankruptcy, the individual or business with a consistent income is able to create a debt repayment plan over a 3-5 year period. In exchange for repayment to their creditors, the courts generally allow these individuals (or businesses) to keep possession of their properties, including otherwise nonexempt property.