Blog Category: Chapter 13


Chapter 13 Bankruptcy Dismissal

Chapter 13 Bankruptcy Dismissal

While there are many options available to individuals whose situation changes during the course of a Chapter 13 bankruptcy, if you fail to make the court-ordered payments on time, your Chapter 13 bankruptcy gets dismissed. When your Chapter 13 Houston bankruptcy gets dismissed, it may actually be in your best interest if you can’t afford  … Read more

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Cramdowns in Chapter 13 Bankruptcy

Cramdowns in Chapter 13 Bankruptcy

When filing for Chapter 13 Bankruptcy, you may be able to reduce the principle balance of a debt to the value of the property it is secured by. This reduction in debt is known as a “cramdown” and can be a valuable instrument in bankruptcy that can save your automobile, investment real estate, and other  … Read more

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Who is Not Eligible for Chapter 13 Bankrtupcy?

Who is Not Eligible for Chapter 13 Bankrtupcy?

For those not able to pass the Chapter 7 means test, Chapter 13 is the next best option and is effective in repaying creditors and discharging unsecured debt. There are some entities that are not eligible for Chapter 13 bankruptcy however, and we’ll cover those here today. Businesses can’t file for Chapter 13 bankruptcy and  … Read more

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Chapter 13 Benefits

Chapter 13 Benefits

  Given the fact that filing a bankruptcy implies a major impact on your credit rating, not to mention the big blotch it is to your self-image and reputation, many people find it extremely hard a decision to make. However, since there are a plethora of chapter 13 benefits for you to enjoy, filing for  … Read more

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Car Loans In Chapter 13

Car Loans In Chapter 13

In a Chapter 13 bankruptcy, you have three possible outcomes with regards to car loans. First, you can keep your car and other vehicles and continue paying it off under your repayment plan. Second, you might lose your vehicle if the payment is exceptionally high and you have a high level of non-exempt equity. Third,  … Read more

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Chapter 13 Bankruptcy Preparation

Chapter 13 Bankruptcy Preparation

Debt relief can be complicated. Especially if you have secured debts or priority debts like taxes. Debt relief through bankruptcy may be possible. It is important to understand the Chapter 13 bankruptcy preparation process. Take the time to speak to a Houston bankruptcy lawyer about what to expect. Chapter 13 Bankruptcy Preparation First, understand the  … Read more

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Options if Chapter 13 Fails

Options if Chapter 13 Fails

The Chapter 13 bankruptcy process is designed to help people resolve their debts, but don’t qualify for a Chapter 7 bankruptcy. By outlining a payment plan spread over 3 to 5 years, people can repay the portion set forth by the court over a series of payments. However, sometimes things don’t work out as planned,  … Read more

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Understanding “Feasibility” in Chapter 13 Bankruptcy

Understanding “Feasibility” in Chapter 13 Bankruptcy

In a Chapter 13 bankruptcy, there are many legal terms that can be difficult to understand if you aren’t familiar with the process. One of the most common terms associated with a Chapter 13 bankruptcy case is “feasibility.” This term relates to the “feasibility requirement,” meaning demonstrating the ability to follow the Chapter 13 payment  … Read more

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What are the Advantages of Chapter 13 Bankruptcy?

What are the Advantages of Chapter 13 Bankruptcy?

There are two main types of consumer bankruptcy in the United States: Chapter 7 (the most common) and Chapter 13. Chapter 13 bankruptcy is commonly referred to as the wage earner’s plan in that you will have a certain amount of income coming in that you can use to eventually pay down all your debt.  … Read more

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What Happens If I Cannot Fulfill My Chapter 13 Obligations?

What Happens If I Cannot Fulfill My Chapter 13 Obligations?

Many people who choose the route of bankruptcy protection either do not choose to proceed with a Chapter 7 that virtually eliminates all unsecured debt but does not allow you to protect certain assets or are unable to secure a Chapter 7 and choose or are forced to take the route of a Chapter 13  … Read more

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