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Chapter 13 Archives

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.

Chapter 13 bankruptcy can help protect significant assets


When in deep financial trouble, a Texas resident's primary concern is the possibility of losing their valuable assets such as a home, vehicle, real estate or other such significant assets should they file for bankruptcy. Additionally, the social stigma associated with bankruptcy can be quite distressing. However, if that person still has a steady source of income, he or she can avoid foreclosure, repossession or loss of other assets by filing for Chapter 13 bankruptcy.

Deal with financial challenges before retirement


Most Texans want to have enough money saved in their retirement accounts before they retire. But financial insecurity can lead to an inability to budget and save for a time when a person may not be able to earn. Unfortunately, it seems that many more people nowadays may not be able to save for their retirement due to various financial challenges.

Chapter 13 bankruptcy may allow fresh financial start


It may seem almost impossible for a person to live without debt. Many people own credit cards and hence have some debt. Many Texans try to pay their debts as quickly as possible, but for some it may prove very difficult to be debt free.

When is Chapter 13 bankruptcy the right option for debt relief?

Just like any other major financial maneuver, declaring personal bankruptcy is a decision that should be evaluated carefully. However, people may get to the point that they simply need a strategy to get out of debt. For those who qualify, Chapter 13 bankruptcy might be the right option.

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