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Chapter 13 Bankruptcy Archives

New Supreme Court decision about Chapter 13 bankruptcy

Texans who are planning to file Chapter 13 bankruptcy petitions should take note of a recent U.S. Supreme Court decision that could affect those cases. The ruling, issued on May 4, ended a circuit court split regarding the ability of people to appeal denials of their Chapter 13 repayment plans.

Chapter 13 bankruptcy and home foreclosure

Individuals in Texas who have filed for Chapter 13 bankruptcy may wonder what to do if they find that they still cannot make payments on their mortgage. There are two solutions available if an individual no longer wishes to continue making house payments in this situation.

Considering Chapter 13 bankruptcy

Financial difficulties for Texas residents can range in magnitude, making it important to evaluate your options as you take on a specific situation. When those challenges extend to many debts or involve an extreme life change, you may find that filing bankruptcy becomes a serious consideration. However, bankruptcy isn't always the best solution. Even when you do find that bankruptcy appears to be the route to take, it is important to have solid counsel to ensure that your filing is accurate and appropriate.

Halting foreclosure through Chapter 13 bankruptcy

Homeowners in Texas who are both overwhelmed by unmanageable debt levels as well as the specter of foreclosure may be unaware that filing Chapter 13 bankruptcy can both provide relief from their debt as well as halt the foreclosure of their home. Unlike the liquidation under Chapter 7, Chapter 13 bankruptcy provides a vehicle through which filers may take control of their delinquencies and save their homes.

Filing for Chapter 13 bankruptcy in Texas

Many Texas residents encounter serious financial problems and consider a Chapter 13 bankruptcy after a setback such as an illness, injury or layoff. You may be thinking about taking this path if your income disqualifies you from filing a Chapter 7 bankruptcy, or you may be contemplating a Chapter 13 bankruptcy because you have assets, such as a home or motor vehicle, that you would like to hold onto.

Benefits of Chapter 13 bankruptcy

For Texas residents facing an unmanageable amount of debt, there is help out there. They can put a stop to collection calls through a Chapter 13 bankruptcy filing. When filing Chapter 13 bankruptcy, individuals can help themselves, getting out of debt by agreeing to a repayment plan with those to whom they owe money.

Chapter 13 bankruptcy may reorganize debt

As some Texas residents may know, Chapter 13 bankruptcy may allow an individual to pay back their debt and keep their property. The payback period depends on the debtor's income. The greater the debtor's monthly income, the longer the repayment time, but the typical plan lasts from three to five years.

Texas bankruptcy crackdown sees woman sentenced to federal prison

If at first you don't succeed, try, try again. As encouragement for persistence those words deserve to be taken to heart. But as the case of a Dallas woman indicates, if pushed to the limit within the context of filing for bankruptcy, there could be dire consequences.

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