Houston Chapter 13 Bankruptcy Attorneys

Chapter 13 Bankruptcy Lawyer in Texas

A Chapter 13 Bankruptcy proceeding is one in which a person commits to paying a specified amount of disposable income through the bankruptcy court (c/o a bankruptcy trustee) for a designated period of time, not to exceed 5 years.

Successful completion of a Chapter 13 repayment plan will typically enable a person to catch-up with missed payments on such important financial obligations as home mortgage payments and car payments over a reasonable period of time, while avoiding the fear or threat of foreclosure or repossession.

Successful completion of a Chapter 13 repayment plan will also frequently enable a person to eliminate altogether additional indebtedness not otherwise covered by the Chapter 13 repayment plan.

Generally when a person files for bankruptcy under Chapter 13 of the Bankruptcy Code, his or her objective is to create an opportunity to satisfy some or all of the debts in his or her name. Filing a Chapter 13 Bankruptcy might be the best bankruptcy option for you if you have considerable debt – but steady and regular income – and can sustain a court-ordered repayment plan for some portion of your debts.

If you are facing imminent foreclosure or repossession – but just need a little breathing room to play catch-up – then Chapter 13 may be a viable option. Sometimes, persons filing bankruptcy own an abundant amount of property (a non-homestead second home, multiple vehicles, etc.) that might otherwise be a risk of being liquidated to pay creditors.

A successful chapter 13 repayment play will often enable a person to keep all or most of his or her abundant property. Finally, persons who might not qualify for Bankruptcy under Chapter 7 will frequently be eligible for bankruptcy relief under Chapter 13.

Chapter 13 or Chapter 7 – Which Is Best For Me?

As consumer debtors, we are fortunate in having a regimen of bankruptcy laws and procedures to guide and protect us when we get in over our heads with too much debt. Deciding whether a Chapter 7 or a Chapter 13 bankruptcy option is best for you is a decision that requires thoughtful consideration and ample appreciation of the various legal requirements and restrictions associated with Chapter 13 and with Chapter 7.

The attorneys with the Thompson Law Firm have many years of experience successfully representing clients in both Chapter 13 and Chapter 7 proceedings. We carefully consider each client's financial and personal situation in determining which bankruptcy option (Chapter 13 or Chapter 7) will offer him or her the most legal protection and minimum inconveniences available under the circumstances.

Finally, The attorneys with the Thompson Law Firm recognize that bankruptcy may not even be the best course of action in addressing your specific financial problems. The attorneys with the Thompson Law Firm are available to explore possible non-bankruptcy legal options for addressing your financial difficulties in appropriate cases.

If you would like to make an appointment to speak with an experienced Bankruptcy attorney, please contact us online or call today at 281-893-8841 to schedule your appointment

Also, please refer to our FAQ section in this website for more information regarding office conferences with the Thompson Law Firm. Let us put our years of experience to work for you.