Why Choose Us?

The Watson Law Firm was founded to help as many consumers as possible obtain federal protection against creditors. This office is not concerned with the reasons or causes leading up to your decision to file bankruptcy. We are only concerned with getting you fast and effective relief from the misery and stress your overburdening debt has caused. Once they have filed, our clients begin the process of rebuilding their credit and, thus, their financial lives. These good people have taken [...]

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What is Bankruptcy?

What is Bankruptcy | Bankruptcy El Paso Texas Bankruptcy is a federally authorized legal proceeding in which a person who is struggling to pay his or her bills can get a fresh financial start. Filing bankruptcy immediately stops all of your creditors from seeking to collect debts from you, at least until your debts are sorted out according to the law. Depending on the type of debt and your situation, bankruptcy will [...]

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Types of Bankruptcy

There are 4 types of bankruptcy

Chapter 7
(referred to as straight bankruptcy)
Chapter 13
(referred to as a repayment plan)
Chapter 11
(reorganization used by wealthy persons and corporations)
Chapter 12
(intended for family farmers and [...]

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Chapter 7 vs Chapter 13

How do I decide Whether Chapter 7 or Chapter 13 Bankruptcy is best for me? In a Chapter 7 Bankruptcy, you pay creditors out of non-exempt property owned at the time of filing. In a Chapter 13 Bankruptcy, you keep all assets owned (even those that are not exempt under Chapter 7) at the time of filing and [...]

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Bankruptcy vs Alternatives

Bankruptcy is the real deal. If you qualify for federal law bankruptcy relief, you are entitled to tremendous protections for your property and peace of mind. However, there are alternatives that are worth comparing to bankruptcy. They are budgeting, making more money, credit counseling plans, home equity loans, and borrowing money from your [...]

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Stop Bill Collectors

If you are behind on your bills, or paying your debt by incurring more debt, your credit may already be bad. Bankruptcy will probably not make things worse. The bankruptcy will be on your credit report for up to 10 years. However, what property will you have lost due to bad credit during that time and will you have even paid off your debt that you could have had eliminated by then? In short, our opinion is that bankruptcy is no more harmful to your credit record than the financial [...]

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