Bankruptcy is an option that can offer individuals and business owners a fresh start, but it also is a decision to make only after considering all the legal ramifications that might result. In the Midland-Odessa area of Texas, people who face daunting financial woes come to the Law Office of Bruce Evan Foster to examine the facts of their individual cases and make important decisions about filing for Chapter 7, 11 or 13 Bankruptcy.
Law Office of Bruce Evan Foster
The Law Office of Attorney Bruce Evan Foster has provided Texans in the local regions of Federal, West Texas and Midland-Odessa with experienced legal counsel since 1979. This law firm serves people who need legal advice, counsel and representation from an experienced lawyer who understands all aspects of Bankruptcy & Debt.
Midland-Odessa Bankruptcy Attorney
Many things contribute to the need to file for Bankruptcy relief. In recent years, a majority of people filing each year have had excessive medical expenses, reduced income or job losses, unmanageable credit debt or a divorce. When they can no longer pay the bills, creditors start to threaten repossessions, lawsuits and other actions that can have a lifelong impact. Fortunately, for individuals and business owners, the legal system does provide options for dealing with this particular issue under Bankruptcy Law.
According to statistics compiled by the American Bankruptcy Institute, in 2015, there were 844,495 filings for Chapter 7, 11, or 13 Bankruptcy in the United States. Of those, 819,760 were non-business filings. Of that number, 519,130, or a whopping 63.33%, were Chapter 7 filings by individuals. Five states had the highest numbers of bankruptcies, including California at number one, with 240,151 cases.
These numbers indicate that filing for Bankruptcy is no longer a rare occurrence, but a useful legal tool that is a very acceptable method for dealing with potential financial ruin. With recent fluctuations in the job markets, income losses and high medical costs, an increasing number of individuals and business owners are seeking relief through Bankruptcy options.
The Law Office of Attorney Bruce Evan Foster is ready to provide the experienced legal knowledge and advice you need to get out of the financial swamp that can easily sink a business operation or devastate a family. Get the help you need to negotiate with creditors, reduce the debt load, stop harassment and threats from collection agents, and to ward off repossessions. This is a problem that has definite solutions you can use now, so you can again move forward in life.
To learn more about Bankruptcy and resolving your debt issues, contact the Law Office of Bruce Evan Foster, in Midland, TX. Call now, at 432-686-2039.