Blog Category: Chapter 13

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

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

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

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

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

When an individual applies for and receives Chapter 13 bankruptcy protection they essentially promising to make repayment to creditors over a period of time decided on by the court and at a level of repayment that both manageable to the debtor and sufficient enough to ensure that creditors recoup their money. This plan is managed  … Read more

A Chapter 13 bankruptcy is a pre-approved repayment plan administered by a qualified bankruptcy trustee after a court has determined that an individual qualifies for this type of protection. The repayment plan is designed to allow creditors to recoup their money from a debtor over a pre-determined period of time, usually 3 to 5 years.  … Read more

If your business is running into financial difficulty there may be a chance that you are speaking to other business associates about this who they themselves have used a bankruptcy to assist them to get back on their feet. What needs to be remembered is that every bankruptcy action is different and there are various  … Read more

In the beginning when individuals are seeking out bankruptcy relief they may not realize that there are different chapters of bankruptcy. There is in the Chapter 7 bankruptcy as well as the Chapter 13, and for businesses there is the Chapter 11. Most prefer the Chapter 7 bankruptcy believing that all of their debts are  … Read more

Every state has its own rules when it comes to Bankruptcy. This applies to both the Chapter 7 and Chapter 13 Bankruptcies. There are also Federal laws concerning this. If you are thinking of filing for a Chapter 13 bankruptcy there are several things you need to know. No doubt you are going to be  … Read more