Bankruptcies fall into basically two types of categories –no payments (chapter 7) and repayment plans (chapters 9, 11, 12, and 13). Which bankruptcy chapter is best depends on many factors. Income, expenses, types of debts, long term goals and  limits in various chapters. If you want to keep a house, car or both, then a chapter 7 will not help. If you have credit card or medical bills and are current on your house and car payments, then chapter 7 may be the best solution.

In order to choose the best chapter, you should consider seeing a board certified attorney.

Debt Relief Options

Bankruptcy should be the “option of last resort”. Before filing a bankruptcy, you should consider other options. Debt consolidation with a reputable debt counseling company may be an option. If you are at risk of losing a home or car this isn’t a good solution.

At Baker & Associates we can help save your  home or car. One way we can save your home is to submit a forbearance agreements. We also assist people with loan modifications. We will defend clients against credit card claims in state court lawsuits. We may even be able to resolve credit card claims in state court lawsuits. We also will assist in credit card negotiations. We assist clients in many areas involving debt issues.


Bankruptcy is conducted in the federal courts. Bankruptcy is a lawsuit that is filed against creditors. In order to file a bankruptcy, you must complete documents for filing with the court. You must also complete a credit counseling course. The court will ask you to provide your financial information. After a case is filed, you will be required to meet with a trustee. This meeting occurs about 30 days after your case is filed.

The process is different for chapter 7, 11, and 13 cases. The bankruptcy process should be completed for a chapter 7 in approximately 4 to 6 months from the date of filing. A chapter 13 case goes from 3 to 5 years. A chapter 11 case may be from 6 months to 1-1/2 years. During each step, we provide support to our clients.

Chapter 7 Bankruptcy

A Chapter 7 is the type of bankruptcy that allows an individual to eliminate debts quickly. You can move forward with a fresh start in a period of months. Chapter 7 bankruptcy sells your non-exempt property (most people in Texas have very little, if any) to pay your creditors. It offers a “fresh start”. It provides the fastest elimination of debt, but is not as good for asset protection.

If you need quick debt relief, contact a Baker & Associates debt relief expert today. They can help you determine if Chapter 7 bankruptcy is an option for you.

Chapter 11 Bankruptcy

A Chapter 11 Bankruptcy is used for businesses seeking to resolve their debts and remain in operation. Similar to a Chapter 13 bankruptcy, a Chapter 11 bankruptcy repays debts while keeping business assets and income untouched.

Contact a Baker & Associates bankruptcy lawyer who can help you determine if Chapter 11 bankruptcy is an option for your business.

Chapter 13 Bankruptcy

A  Chapter 13 offers the best way to restructure your debts. You can also keep creditors from repossessing needed assets. Chapter 13 bankruptcy is a better option  if you are behind on certain payments, like home, car, tax or child support. If you earn too much to be eligible for Chapter 7 bankruptcy,  Chapter 13 bankruptcy may be the best option for you.

Contact Baker & Associates to determine if filing for Chapter 13 bankruptcy is right for you.