Is filing for debt relief law the same as filing for bankruptcy?

No, filing for debt relief law is not the same as filing for bankruptcy. Debt relief law in Texas is a legal protection that helps to protect people from creditors and can help them negotiate the amount of money they owe. Filing for debt relief law does not mean that a person’s debt is completely erased or forgiven; instead, it helps to reduce the amount of debt that a person must pay. Filing for bankruptcy, on the other hand, is a legal process where a person petitions the court to have their debt erased or forgiven. This can have a much more significant and long-term effect on a person’s credit score. In addition, filing for bankruptcy can take several months or even years before the process is complete and the debt is erased or forgiven. In short, debt relief law in Texas is meant to help people reduce their debt and protect them from creditors. Filing for bankruptcy is a more extreme option where people can attempt to erase their debt altogether.

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Is filing for debt relief law the same as filing for bankruptcy?

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