over 4,000 Successful bankruptcy cases filed
For over 13 years, Christopher Todd Morrison, P.C. has helped thousands of people in Houston, TX and surrounding areas get out of financial hardship by filing for Bankruptcy protection. Call today for a free consultation and start living your life without the daily stress of debt.
Christopher Todd Morrison PC is a bankruptcy lawyer in Houston that offers comprehensive legal solutions to debt, including Chapter 7 and Chapter 13 individual bankruptcy. If you and your family are feeling the stress caused by a possible foreclosure, repossession threats, unpaid bills, collections calls, and wage garnishments for unpaid debts, our bankruptcy firm may have the solution for you. We want to help.
When crisis strikes, whether it is in the form of an unexpected medical emergency, a job layoff, or a vehicle breakdown, you may find yourself in a situation where you cannot pay your regular household expenses, or make payments toward your existing debts. As a bankruptcy lawyer in Houston, I know you may be feeling overwhelmed, anxious or afraid of what your financial future holds because you are unable to pay your bills as they become due. If filing a bankruptcy is right for your situation, I am here to help guide you through the process.
Filing Bankruptcy May Be the Solution
While deciding to file bankruptcy or seek another form of debt relief, a bankruptcy lawyer in Houston can give you invaluable advice. I can guide you through the decision-making process and provide you with the answers to some of your most pressing questions, such as:
- What is Chapter 7 bankruptcy? Do I qualify?
- What is Chapter 13 bankruptcy? Is it best for me?
- Should I file for bankruptcy?
- What are all of my options?
Stop Harassing Calls from Creditors
One immediate benefit to filing for court-ordered debt relief is the “automatic stay.” An automatic stay is an order that the court issues, when your bankruptcy lawyer in Houston files your petition for debt relief with the court. This order prevents all of your creditors (the people to whom you owe money) from taking any action to collect unpaid bills from you.
The benefits of a petition for debt relief begin with an automatic stay. The order will:
- Prohibit harassing phone calls to you at home or at work
- Stop collection letters threatening legal action against you
- Prevent the filing of lawsuits against you in order to collect debts
- Ban garnishments of your wages for unpaid debts
- Stop foreclosure on your delinquent mortgage loan
REQUIREMENTS FOR Chapter 7 Bankruptcy
In order to be eligible to file for personal bankruptcy under Chapter 7, your income must be below a certain level. This chapter of debt relief was specifically designed for individuals who have little to no money invested in real properties. State and federal laws require petitioners to seek the assistance of a bankruptcy lawyer in Houston to help them determine whether or not they qualify for Chapter 7 debt relief. If you meet the eligibility criteria, any non-exempt assets in your possession will be liquidated and the proceeds used to pay down your debts. Once your Chapter 7 process is final, many unpaid debts are “discharged,” meaning that you no longer have to pay them.
- There are several assets that are exempt to liquidation under Chapter 7, including homestead exemptions, vehicle exemptions and personal property exemptions. An in-depth examination of your finances will be required to determine which assets you may or may not be able to retain.
REQUIREMENTS FOR Chapter 13 Bankruptcy
If your income is too high to file Chapter 7, or when you are interested in saving your home from a mortgage foreclosure, you may wish to consider a Chapter 13 bankruptcy. Also known as the “payment plan,” Chapter 13 proceedings allow petitioners, if they qualify, to pay off their debts over a three to five year period. This chapter of debt relief is most often sought by those with regular sources of income and significant real property investments. Once all of the payments under the repayment plan have been submitted, petitioners are entitled to have any remaining balances on specified debts discharged.
- Payment plans under Chapter 13 must be approved by the court.
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Christopher Todd Morrison, P.C.
1306 Dorothy Street, Houston