When preparing to file bankruptcy, you may not realize that you have more than one option. Many people are familiar with a Chapter 7 bankruptcy, but a Chapter 13 may be a better choice, depending on your circumstances. Restructure your debts Filing a Chapter 13...
Chapter 13 Bankruptcy
Proven record of success – has helped more than 5,000 Texans get out of debt
Bankruptcy laws exist to provide people facing overwhelming debt with a fresh start. However, navigating the rules and regulations can be challenging. The law offices of Christopher Morrison have helped more than 5,000 Texans get out of debt. How the law offices of...
Do both spouses need to file for bankruptcy?
In Texas, both spouses do not need to file for bankruptcy. However, some may benefit from doing so. Before you decide to file for bankruptcy, weigh the pros and cons of filing together or separately. Every case is different. Filing for bankruptcy jointly or separately...
What does Chapter 13 bankruptcy look like?
Bankruptcy for many is a last-ditch effort to get out of debt. When there are more bills in a month than income, it is impossible to pay everything due. Bankruptcy is a way for a person who is in financial trouble to get a fresh start. It is a court process that...
Can you keep your house and car if you file for bankruptcy?
Declaring bankruptcy does not necessarily mean that you will have to forfeit the property that you value most such as your home or your car. In fact, bankruptcy can help you keep your property. Your ability to preserve assets may depend on the type of bankruptcy that...
How can you avoid credit card debt?
Texas residents like you opt for Chapter 13 bankruptcy because a repayment plan works in your favor. But did you know that you still have to keep on top of secured debts that survive bankruptcy? You must make mortgage and loan payments throughout the bankruptcy...
How are Chapter 7 and Chapter 13 bankruptcies different?
When medical bills, credit card bills or other debts become too much for you to manage, you may find yourself looking for ways to dig yourself out of financial turmoil. You may decide that filing for bankruptcy may be your strongest chance at getting your finances...
What are your obligations as a debtor under Chapter 13?
As a resident of Texas, filing for bankruptcy can free you of your burden of debt. Chapter 13 bankruptcy provides you with good options if you have the ability to reorganize and pay off your debts. However, filing for Chapter 13 bankruptcy also comes with a set of...
Will bankruptcy stop a foreclosure?
There is no immunity from debt issues, so if and when you experience them, you should feel no different than any other resident of Texas. Yet the fact that you are not alone in your struggles with debt does not change the concern you feel over the impact that turning...
Four things to know about a Chapter 13 repayment plan
As opposed to the liquidation involved in Chapter 7 bankruptcy, Chapter 13 filers have enough income to at least partially repay some of their creditors over time. The repayment plan is a prominent feature of Chapter 13 bankruptcy. A person who files for Chapter 13...