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Chapter 13 Archives

What must be done to make a Chapter 13 plan work?


With a filing of Chapter 13, Texas residents need to make certain that they focus on what is important to make the plan successful. This type of filing is referred to as a "wage earner's plan." It allows those who have a regular stream of income to formulate a plan to pay back all or some of the debts they have accumulated. Installment payments will be made so the debts can be wiped out within three to five years. The amount of income the debtor earns will dictate whether it is a three or five year plan.

Dealing with a car loan in a Chapter 13 bankruptcy


While there are many issues that will come to the top of the list of concerns for Texans seeking debt relief through a Chapter 13 bankruptcy, there are also other factors that must be considered. One is what will happen to a car loan that still has payments due while the bankruptcy is in process. While it might be a secondary problem once the Chapter 13 gets underway, it must be dealt with at some point.

What basic information is required when filing for Chapter 13?


Chapter 13 bankruptcy is an option for people in Texas who are having financial issues. Chapter 13 bankruptcy is a method to deal with foreclosure issues, stop creditor harassment and improve financial standing. With that, it is imperative to understand the basics of the filing and what information must be provided to properly complete it. A debtor is required to provide all the correct information and follow other rules.

Chapter 13 bankruptcy helps people cope with student loan debt


Overwhelming debt is a problem plaguing many people in Smith County, Texas, and residents throughout the country. While people have accumulated debt through credit card spending, debts arising from medical emergencies or following the loss of a job and income, many people are financially struggling with student loan debt. According to the Consumer Financial Protection Bureau, the nationwide student loan debt is an astounding $1.2 trillion dollars in the United States.

Is Chapter 13 bankruptcy the best option for you?


Many Texas residents may be aware that most individual bankruptcies are either filed under Chapter 7 or Chapter 13 of the United States Bankruptcy Code. However, the eligibility criteria for those two types of bankruptcies are slightly different from each other. For example, Chapter 13 is a good option for those people whose debts are comparatively small and have a steady source of income.

The Chapter 13 bankruptcy plan and confirmation hearing


Due to their lack of financial success or the cost of living, many Texas residents may find themselves in a tight money spot. Debts can be a tremendous burden on an individual and reduce the person's quality of life. Hounded by collection agencies and a falling credit score, a debtor can choose to opt for Chapter 13 bankruptcy in order to get a fresh start and reorganize the person's finances.

Texas lawyers who understand the Chapter 13 process


Filing for bankruptcy is sometimes unavoidable for Texas residents. When it comes to deciding whether to file for bankruptcy, people may be concerned about losing their family home to foreclosure and being left virtually penniless. At the law office of Gordon Mosley, we have had decades of experience counseling Texans into better understanding their options in such difficult times.

What are Chapter 13 Discharge, Chapter 13 Hardship Discharge?


In Texas, if all of the payments under Chapter 13 of the bankruptcy code are made, a debtor may discharge his or her debts. A debtor may also be allowed a discharge if he or she can certify that all family support payments have been taken care of, including court ordered child support payments, as well as spousal maintenance or support.

Filing for personal bankruptcy under the Chapter 13 clause


As we all know, debts can accumulate over a period of time. This can make it difficult for a person to make ends meet when paying both monthly bills and debt payments. Many people try to save every cent so that they can be out of the debt as soon as possible, but sometimes paying just the interest on the debts can prove to be difficult. Another solution to reducing debt may be to sell their belongings to pay the debts, but again they may brush aside this solution because they don't want to lose their house or possessions.

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