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Chapter 13 Archives

What is required to file for Chapter 13 bankruptcy? Part I

People in Tyler who are facing financial difficulties may decide that filing for bankruptcy is the right choice for them. Some may decide to file for Chapter 7 bankruptcy, as the process is relatively quick from start to finish, so they can move on with their lives with a fresh financial start. Others may want to file for Chapter 13 bankruptcy, especially if they think they can pay back some or all of their debt given time or if they want to preserve assets that might be lost if they file for Chapter 7. However, they should keep in mind that not everyone qualifies for Chapter 13.

Is there any hope for Tyler homeowners facing foreclosure?

Sometimes even the most responsible of homeowners can fall on hard financial times. It only takes a job loss, a serious illness or any other financial calamity that causes a homeowner to fall behind on their mortgage payments. This can be incredibly distressing, particularly if a homeowner is facing the threat of losing their home to foreclosure. However, homeowners in Tyler should know that there may be some alternatives to foreclosure that may be worth looking into.

Can filing for Chapter 13 save your home from foreclosure?

Owning a home is a source of pride for many in Texas. Our homes are where we rest our heads at night, where we raise our families and where we celebrate holidays and other special occasions. In the end, "be it ever so humble, there's no place like home."

What is the Chapter 13 'hardship discharge'?

Sometimes, when a person's debts become overwhelming, they may find that filing for bankruptcy is the best way for them to wrest control of their financial problems and move forward with a clean financial slate. While some people in Texas may choose Chapter 7 bankruptcy (liquidation bankruptcy), others may find that Chapter 13 bankruptcy is better for them.

Chapter 13 debtors may face unauthorized mortgage changes

When people in Tyler have a mortgage, they expect that the terms of the mortgage will remain the same. In fact, lenders are not permitted to change the terms of a mortgage in a way that lengthens the amount of time a mortgage must be paid or change the amount to be paid each month, if the borrower has not agreed to do so. However, one lender, Wells Fargo, did just that to borrowers who were in the bankruptcy process and is now facing a lawsuit.

How can I make sure the Chapter 13 plan works?

Any bankruptcy proceeding in Texas will end up being a fruitless endeavor if it does not yield the desired result to the debtor and help him or her to get back on stronger financial ground. For a fresh financial start to be successful, the plan must work. With a Chapter 13 bankruptcy, it is vital to understand something that is elementary: how to make the plan work.

What can be discharged via Chapter 13 bankruptcy?


Sudden life changes can throw an individual into unexpected financial challenges. The sudden loss of a job, the onset of a medical condition, and even divorce can leave one facing massive debt and income shortfalls. During these times, individuals may turn to credit cards to get by, which can exacerbate the issue. When the debt becomes so overwhelming that an individual is unable to make his or her payments, it may be time to consider debt relief options, including bankruptcy.

Why would one want to file for Chapter 13 bankruptcy?


If you are facing overwhelming debt, then you're likely looking for debt relief. There may be many options available to Texans, including Chapter 7 and Chapter 13 bankruptcy, but figuring out which is the right fit can prove confusing. Depending on your circumstances, Chapter 13 bankruptcy may be in your best interests, particularly if you're interested in keeping your assets. This post will examine the advantages of filing for Chapter 13 bankruptcy.

Texas firm advocating for those seeking Chapter 13 bankruptcy


Debt makes up a significant part of our economy. Individuals in Texas may struggle when they suddenly lose their job, or they may incur substantial medical expenses with the onset of an unexpected medical condition. Regardless of the reason for such financial hardship, those who are subjected to it can find themselves overwhelmed, stressed on a daily basis and fearful for their future. Although these emotions are understandable, those facing seemingly insurmountable debt may be able to obtain debt relief.

What are the different types of creditor claims in a Chapter 13?


For Texans, making the decision that the financial challenges they are facing have become too difficult to overcome and filing for Chapter 13 bankruptcy is not taken lightly. However, it is a comforting truth that Chapter 13 is a strategy to get out from under onerous financial issues and move forward. Chapter 13 is for those who earn wages and will repay the debt within three to five years. There are certain terms that must be understood with this filing. That includes the three types of creditor claims on debt. They are priority, secured and unsecured.

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