Getting a Fresh Start in the New Year

Would you like this year to be better than last year? You have the power to take charge of your debts through consumer Bankruptcy and get a fresh start for the future. The beginning of the year is a great time to explore your options under the Bankruptcy Code due to available tax refunds. Many of our clients use their tax refunds to pay legal fees, court costs and the mandatory credit counseling course. The information provided for your taxes is also very useful in the pre-filing process of the Bankruptcy.

The sooner you meet with an experienced Houston Bankruptcy lawyer, the sooner you can re-organize your secured debts (home and vehicle) or eliminate your unsecured debts (credit cards, payday loans, and medical bills). If you are anticipating a 2011 tax refund, it may be better to postpone your Bankruptcy until you have received and spent the refund on necessary living expenses and legal costs. If you file your case and then receive the refund check, the money may go to your creditors in the Bankruptcy – unless an exemption protects the money from liquidation. If other exemptions are needed to protect your valuable assets (such as a home or car), there may be little room to protect the refund. The best advice is to use this money prior to filing on necessary living expenses.

Speaking with a motivated Bankruptcy attorney can also help you avoid honest "mistakes." For instance, if you pay more than $600 to one creditor just before filing the case, the Trustee assigned to your case can force the creditor to return the money. Additionally, gifts or loan payments to friends or family members can also be "avoided" by the Trustee if such activity occurred within 90 days of filing. While you have not done anything wrong, your attorney can help you avoid these complications. In some cases, you may need to wait a couple of months before filing.

The New Year is a great time to review your financial situation and consider consumer Bankruptcy. My office provides free consultations at numerous locations around Houston. Please call the Law Office of Nicholas R. Westbrook at (713) 893-6204 to schedule an appointment. The road to financial freedom starts here.

Attorney Nicholas R. Westbrook

3730 Kirby Drive

Houston, Texas 77098

713-893-6204