If you’re looking to hire a lawyer to offer you top-notch legal services, you need first to check how they are rated. This will give you an idea of how proficient they are in offering excellent legal services. If you’ve been searching for a reputable and highly rated immigration and bankruptcy law firm in Austin, Texas, visit Lincoln-Goldfinch Law

Lincoln Goldfinch Law is one of the highly-rated law firms in Austin, Texas, that offers quality legal services to their clients. They understand the need for excellent legal services; hence their lawyers relentlessly serve their clients to get the most favorable outcome. Due to its outstanding legal services in handling immigration and bankruptcy cases, this law firm has received several positive reviews for its services. Lincoln Goldfinch Law is an award-winning immigration and bankruptcy law firm that have a track record of success in handling various cases such as; visa application, family-based immigration, asylum and refugees, the naturalization process, green card, bankruptcy, and several others. If you need legal assistance in these areas and other areas related to bankruptcy and immigration law, do well to reach out to Lincoln Goldfinch Law.

Common Types Of Bankruptcy Handled By Lincoln Goldfinch Law

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is a process that allows you to discharge most of your debts. This can be useful if you have no other choice but to file for bankruptcy protection and want the ability to keep your property. It’s also called liquidation bankruptcy and is similar to a discharge in a Chapter 13 case, but it has fewer restrictions on how you use your money after the case ends.

Chapter 7 cases are usually filed either by individuals or businesses (including corporations), not just individuals with joint debts together with other people living together. A person filing for chapter 7 may do so alone or as part of a joint petition filed by two or more people who want to get rid of their debt together. Chapter 7 Bankruptcy requires the debtor (the person filing) to pay all of their debts, except for certain types of medical bills. In addition, it’s possible for a filer who has been financially responsible in the past year or two years before filing their case to still qualify for chapter 7 bankruptcy even if they have had multiple financial missteps over time.

Chapter 11 Bankruptcy

Chapter 11 Bankruptcy is a type of bankruptcy that allows organizations, including corporations and other business entities, to continue operating while they reorganize their debts. Chapter 11 Bankruptcy was created for businesses with limited resources and for those who are unable to pay their debts as they fall due. 

Chapter 11 Bankruptcy provides relief from certain debts in exchange for reorganizing them over time under the supervision of an appointed trustee who can help prevent the liquidation of your assets by selling them off at auction if necessary. The bankruptcy code also provides protection against creditors’ claims during this process.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy (Adjustment of Debts of an Individual with Regular Income) is for people who can come up with a payment plan. This type of bankruptcy allows you to make payments on your debts over time through wage garnishment, rather than being required to pay them all at once in full (which would be impossible). The court will calculate how much money you can afford based on your income, expenses, and obligations such as child support. Once this calculation is complete, it will determine how much money should be available for creditors who are owed money by you before distributing anything else among them.

Chapter 13 bankruptcy is more complicated than Chapter 7 or 11, so it is not for everyone. If you have regular income and have no high-level debt (like home mortgages), this may be the best option for your situation.

Bankruptcy is not the end of the world. It’s a way to get a fresh start, and there are many benefits to filing for bankruptcy protection. However, you should never do it without talking to an experienced bankruptcy lawyer and making sure that your financial situation is stable enough to qualify for Chapter 7, 11, or 13 bankruptcy protection. 

Feel free to contact the team at Lincoln Goldfinch Law for all your inquiries. Their team is always available to answer any questions you may have about immigration and bankruptcy laws. You can book a consultation with them via their website to start.

By Manali