I Filed for Bankruptcy and the Phone Stopped Ringing

It is 8 AM; you look down at the phone, waiting, dreading its inevitable surge to life, but miraculously, it lies idle. The screen dark, all vibration ceased and that piercing generic ring you assigned to unidentified numbers finally absent from your ears.

Incessant calls from creditors might seem trivial with a pending home foreclosure but maybe you remember back to a time when melodic digital cell phone tones sent a tinge of joy to your pocket. And maybe you would like to reclaim that feeling, or, maybe you just want to enjoy the soothing sound of silence.

There are two common options for individuals filling bankruptcy. First, assuming you live in Austin or San Antonio, you will need a San Antonio bankruptcy attorney or an Austin bankruptcy attorney. Then with the help of your San Antonio bankruptcy lawyer you will file. The most widely known individual filling, Chapter 7, is what some people mistakenly relate to a get out of jail free card. Assets are liquidated and your dept is cleared. Start from scratch. In reality this is closer to the dreaded, "Go to jail, go directly to jail, do not pass go, do not collect $200," card. While at first it may seem advantageous to be in jail: no need to worry about overindulging at Donald's beautiful Boardwalk Hotel, gone are expensive trips on the Reading Railroad, electricity and water are even provided, but then again, your assets are frozen. This means when he stops by that newly renovated Baltic Slum of yours, his stay is camped. As a matter of fact, depending on how much dept you owed, you are probably not a proud slum owner anymore. And as far as future creditors and your credit reports are concerned, your maximum sentence just went from three turns to ten years. And you thought Monopoly took forever to finish.

Fortunately, there is another option: filling Chapter 13. This thereby restructures and consolidates debt into a single reasonable monthly payment. Depending on your income, these payments will be made for three to five years. During the repayment period creditors may only contact your attorney, rather than ringing you at the top of every hour. Added bonus: you get to keep that modest residence you own on Virginia Ave.

There are many qualified San Antonio bankruptcy attorneys as well as Austin bankruptcy attorneys to choose from. Austin bankruptcy lawyers and San Antonio bankruptcy lawyers maintain that they offer a high level of personal attention to all clients. See 'Choosing the right lawyer' for tips on how to find the right Austin bankruptcy lawyer.