How Chapter 13 Bankruptcy Works in Texas
For individuals struggling with debt, one option for finding relief is through filing for a Chapter 13 bankruptcy. This form of bankruptcy reorganizes an individual’s debt to make them more manageable. At Huebner Law Firm, PC, I can help you understand the process of filing for Chapter 13 bankruptcy and how it can benefit you.
- Chapter 13 Can Do the Following:
- Save your home from foreclosure
- Reschedule secured debts
- Stop creditor harassment
Who Can File for Chapter 13 Bankruptcy?
Chapter 13 bankruptcy is available to those individuals with debts under an established maximum value, and who have a regular income that allows for repayment over time. While Chapter 7 discharges qualifying debt altogether, Chapter 13 simply gives debtors a longer period of time—and, therefore, smaller payments—to pay off their debt.
The biggest advantage to filing for Chapter 13 over Chapter 7 is the protection it affords to high-value assets, such as a home or a car. Under Chapter 7, those assets may be claimed by a trustee for liquidation, while a Chapter 13 case allows you to keep all property, regardless of value.
In a Chapter 13 bankruptcy, your lawyer will work with a trustee to establish a repayment plan that generally lasts five years. Your payments will be made directly to the trustee, who will then distribute them to creditors.
You will have no direct contact with creditors during a Chapter 13 plan.
Get Started on Your Bankruptcy Claim – Call (817) 576-1889!
My name is William L. Huebner, and I am proud to provide legal advocacy to residents of Tarrant County who are looking to build a better future for their families. I understand the stress and anxiety caused by debt and strive to represent each case with compassion and efficiency to help my clients find relief. With more than 18 years of experience as a Fort Worth bankruptcy lawyer, I’m ready to guide you through the path to financial freedom.
Contact Huebner Law Firm, PC today to request your free case evaluation!
- Drowning in debt
- Feeling stressed because of your finances
- Being harassed by creditors
Why should I file for bankruptcy
There are a number of benefits to bankruptcy, including avoiding foreclosure and putting an end to creditor harassment. Filing can also help resolve issues concerning repossession, past-due taxes, child support payments, and wage garnishments. If you’ve been sued because of a debt, filing for bankruptcy can also help you fight the lawsuit. I can help you understand what filing can mean for you and your family.
Will I lose all of my property
You might be surprised to hear that individuals who file for bankruptcy often lose little to nothing. Every case is different and the amount that you might have to forfeit depends upon a number of unique and complex factors. However, our firm is proud of our success in helping clients retain those assets that are important to them.
Can all debts be discharged
Most debts can be discharged in a bankruptcy, but not all. Some debts—such as most taxes, child support and alimony payments, and student loans—are nondischargeable, meaning they cannot be eliminated altogether. Fortunately, for these debts, it is possible to reschedule or re-organize your payments to be more manageable.
How does bankruptcy work
Bankruptcy can work in one of two ways. First, by filing for a form of bankruptcy referred to as Chapter 7, you can eliminate all dischargeable debt, including credit cards, car loans, mortgages, medical bills and more. Second, you can file a form of bankruptcy known as Chapter 13, which works to re-organize your debts to give you a longer period of time to pay them off. Chapter 13 is preferable to individuals dealing with nondischargeable debts, do not qualify for Chapter 7, or have high-value assets that they wish to protect.
Why do I need a lawyer
You could certainly file for bankruptcy on your own, but it’s not recommended. You’re already anxious enough without the added complexities of navigating the legal process. Having a lawyer handle your case takes the responsibility off of your shoulders and ensures that every detail will be handled correctly and on time. Not sure you can afford an attorney? Huebner Law Firm, PC offers flexible payments plans to help with your bankruptcy case. Get in touch to learn more.
When will I see results
The timeline for bankruptcy can vary on a case-by-case basis. In general, bankruptcy cases are completed between three to six months, depending on a variety of factors. As your attorney, it is my job to make sure the process is completed efficiently and to fight for your rights every step of the way. Speeding can lead to costly mistakes.
For nearly 20 years, my firm has fought relentlessly for people struggling with debt, many of whom are just trying to get by. We have provided the one thing our clients need: results.
Many families fear bankruptcy as much as they fear asking a lawyer for help. The first thing we want you to know is bankruptcy is not an admission of failure; it’s a way to reclaim control over your financial situation. With that in mind, you can ask for help freely, without worry.
My firm has an in-depth understand of the law and how it affects your finances. Our primary goal is to free you from debt and stress. With our understanding of the law and a thorough examination of your situation, you can be sure certain that we’ll explore every possible avenue of debt resolution.
There’s nothing to lose—our initial consultations are free and starting your case requires no upfront payment. Our flexible payment plans begin at $25 a week, so call today!
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