Texas Chapter 13 Bankruptcy Attorney
Reliable Help From A Texas Bankruptcy Attorney
There are two different types of bankruptcy; Chapter 7 and Chapter 13. For those who have a regular income that would not appear to pose a threat, they may still face serious financial troubles. Chapter 13 is a solution to those who are seeking debt relief from our firm, which understands this aspect of bankruptcy. This type of bankruptcy can help you obtain the fresh start you have been awaiting. It sets you on a road to financial freedom that is accomplished through the establishment of a payment plan. If you do not qualify for Chapter 7 bankruptcy as a result of a failure of the means test, Chapter 13 can still help you discharge debts.
Creating a Payment Plan Under Chapter 13
Establishing a payment plan for paying off debts can help you to only have to pay that which is a reasonable amount each month. Chapter 13 bankruptcy may allow you to halt foreclosure and car repossession. The creditor can establish a plan that allows them to pay back secured and unsecured debts. Secured debt is backed by collateral, such as homes and vehicles. Unsecured debt is not attached to collateral but is acquired for services and not physical possessions. Unsecured debts include student loans and credit card debts.
Chapter 13 bankruptcy is an excellent option for any who are not able to file for Chapter 7 bankruptcy. It is a great option for those who want to protect their homes, vehicles and other assets. Chapter 13 has many benefits, especially when fighting against foreclosure. It allows you to protect these assets while taking steps toward financial freedom. In Chapter 13 bankruptcy, the damage done to your credit is less severe. Maintaining a positive financial outlook can be accomplished by filing for Chapter 13 bankruptcy. To find out more about how Chapter 13 can benefit you, or to obtain a complimentary consultation, contact our firm today! Our Texas bankruptcy attorneys handle many Chapter 13 cases on a yearly basis, and we have offices in Killeen, Temple, Waco and throughout central Texas.
Foreclosure can occur when a debtor falls behind on mortgage payments. The money lender can execute the process of repossessing the property of the individual that owes them money. With the current state of the economy, foreclosure has been occurring quite frequently. If foreclosure is occurring to you, confusion has probably overwhelmed your thinking and clouded your mind. One of the most important steps that you could take is to enlist the assistance of a bankruptcy attorney from The Carlson Law Firm. When you ask yourself, “What can I do as I face this foreclosure?” our firm can be your guide through the process.
When it comes to foreclosure, your options are limited but they do exist. The most important step that you can take is to hire a lawyer who understands the process of foreclosure and the options available to you. Involving a knowledgeable lawyer who can guide you through the process is a tool that can be used to effectively help you reach a positive solution. A lawyer can help you understand what to expect and can advise you on topics, such as whether you should apply for loan modification, deed in lieu of foreclosure, short sale or bankruptcy.
Contact a skilled Bankruptcy Attorney Today
The very first step you should take is to talk to a knowledgeable bankruptcy lawyer from our firm. You can then file for bankruptcy with the bankruptcy. At this stage, the creditor will have to seek a court order to finish the collection attempts.
After the bankruptcy proceeding, a meeting of creditors will have to take place. This meeting can take place on your own or accompanied by your legal representative. When this process is effectively executed, you can find financial relief and you can have a new-found sense of control over your finances. You will then want to protect your financial future and develop a plan. Our firm can help you understand the process, so contact us today!