About Evan Simpson

Evan Simpson

I am proud to announce that I am now the Jeff Davis Law Firm attorney in charge of bankruptcy cases for the Heart of Texas and Central Texas.

About Bankruptcy

“Bankruptcy isn't a four-letter word. Debt is.”

Bankruptcy is designed to give individual debtors a fresh start while treating creditors fairly. It is provided for in the United States Constitution and administered by federal courts. You don't have to be rich to file bankruptcy — or poor, or employed, or out of work, or insolvent, or a home-owner.

It offers breathing room and powerful tools to deal with debts. The 'automatic stay' puts the brakes on foreclosure and repossession, puts debt collection calls on hold, and generally forces creditors to back off and wait for the case to finish, or for permission from the bankruptcy judge. In many cases the court will 'discharge' debts — order creditors to never again try to collect the debts from the debtor; Debts that qualify for this are called 'dischargeable' debts.

Bankruptcy does not mean losing your property. Most Heart of Texas filers aren't forced to give up any property in bankruptcy.

But the Bankruptcy Code is complex. Just under 10,000 bankruptcy cases were filed in the Western District of Texas in the past year. Of these, about half were filed under Chapter 7 of the Bankruptcy Code, and half under Chapter 13. Which chapter is better? That depends on your circumstances. Professional guidance is crucial; mistakes can lead to loss of property and of some or all of the benefits of bankruptcy.

Solving Your Financial Issues

Don't wait for a crisis. The sooner you investigate your options, the more and better options you're likely to have. Sadly, too many people wait until they are at the edge of ruin, until they have tried every other possibility, before they seek help from a bankruptcy lawyer. They exhaust all of their resources, take out terrible high-interest loans, use up their savings, and even mortgage their homes, all to keep their creditors at bay just a little bit longer.

Get professional advice. We are ready to discuss your situation and concerns, and review both your bankruptcy and non-bankruptcy options. Set up a free consultation.

Educate yourself.