Consulting with the bankruptcy lawyers of Houston Bankruptcy Attorney Law Firm can be one of the most important decisions you make if you are facing stressful financial difficulties involving a Chapter 7 bankruptcy, Chapter 13 bankruptcy or Chapter 11 bankruptcy due to credit card debt, IRS problems, repossessions judgments, or a home foreclosure.
Houston bankruptcy attorneys at Houston Bankruptcy Attorney Law Firm meet personally with you and deliver the highest quality confidential legal services with compassion and skill.
Houston Bankruptcy Specialists
The idea of filing for bankruptcy terrifies a lot of people because they think it means they are going to lose everything; the reality is quite the opposite. If you file Chapter 7 bankruptcy, bankruptcy law allows you to keep your exempt property, which-for most people facing the prospect of filing bankruptcy in Texas-is most or all of their property. You still must pay any valid liens on the property.
With Chapter 13 bankruptcy, a debtor proposes a plan to repay creditors either partially or in full over a three- to five-year period. During that time, the debtor can make up overdue payments on her home, “modify” car and truck loans to make them more affordable, pay or “discharge” or cancel delinquent IRS debt and pay into the plan the equivalent value of any assets not covered by exemptions.
Chapter 13 is best suited for someone with a regular source of income because it requires monthly or biweekly payments.
Houston Bankruptcy Cases
When you're filing for bankruptcy, it is critical to understand your legal rights. Bankruptcy laws protect consumers and companies from financial ruin and the potential to be abused by outstanding creditors. By allowing individuals and businesses to have their qualifying debts eliminated, bankruptcy offers all Americans a second chance at controlling their debt.
Filing bankruptcy grants you a safe haven from creditors with the automatic stay provision of the U.S. Bankruptcy Code. The automatic stay protects you from:
Creditor harassment Repossessions and foreclosures Wage garnishments
By protecting you from losing personal and business assets, filing bankruptcy can give you time to negotiate with creditors and get your financial house in order.
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Not Certified by the Texas Board of Legal Specialization. The material obtained from this site is not intended to be legal advice. Please consult an attorney for advice regarding your own legal situation. We invite you to contact us and welcome your calls and email. Contacting us does not create an attorney-client relationship. Please do not send any confidential information until such time as an attorney-client relationship has been established.