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Conroe & Surrounding Areas Chapter 13 Bankruptcy Lawyer

Chapter 13 bankruptcy is a bankruptcy that offers an individual the flexibility to get caught up on their debts over a period of 3 to 5 years in order to stop repossessions, foreclosures, tax garnishments and levies, lawsuits, and creditor harassment's. The period of time a person must be in Chapter 13 depends on the income level of the individual and family size. If a person makes more than the median income for an individual with the same family size, he must be in a Chapter 13 for 5 years. Otherwise the person may choose anywhere from 3 to 5 years. In a Chapter 13, payments must go to a Chapter 13 trustee for payment towards the debt owed by the individual. If the individual is employed a wage garnishment order will be sent to the employer for withholding of the monthly payments. It is the individuals ultimate responsibly to ensure payments are sent to the trustee.

Chapter 13: Repayment of All or Part of the Debts of an Individual with Regular Income


What is Chapter 13 Bankruptcy?

1. Chapter 13 is designed for individuals with regular income who would like to pay all or part of their debts in installments over a period of time. You are only eligible for chapter 13 if your debts do not exceed certain dollar amounts set forth in the Bankruptcy Code.

2. Under chapter 13, you must file with the court a plan to repay your creditors all or part of the money that you owe them, using your future earnings. The period allowed by the court to repay your debts may be three years or five years, depending upon your income and other factors. The court must approve your plan before it can take effect.

3. After completing the payments under your plan, your debts are generally discharged except for domestic support obligations; most student loans; certain taxes; most criminal fines and restitution obligations; certain debts which are not properly listed in your bankruptcy papers; certain debts for acts that caused death or personal injury; and certain long term secured obligations.


Am I Eligible for Chapter 13?

To be eligible for a chapter 13, an individual must show the ability to fund a Chapter 13 plan. This could include income from employment, business, social security, disability, child support, and or contributions from other individuals. To see if you are eligible for a Chapter 13 bankruptcy contact Conroe bankruptcy attorney Rick Deal for a free consultation.


Chapter 13 Fees

Our firm offers a flat fee for handling Chapter 13 cases. This fee is in the amount authorized by the court as charge for Chapter 13 representation. The main concern of most individuals seeking a Chapter 13 attorney is the amount necessary to start the process. If you are an employed individual wherein your employer is deducting taxes from your pay, we can start the process for a very low down payment with the remainder of the fees paid through the bankruptcy plan. If you are self-employed or receiving income other than employment we can start the process with a low down payment with the remainder paid through the bankruptcy plan. These down payments are increased if you have been involved in another bankruptcy within in the last year. For more information on Chapter 13 fees please contact Attorney Rick Deal for a free consultation.

 

 

 

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Contact Us

Law Office of Rick J Deal
409 N Loop 336 W, Suite 4
Conroe, TX, 77301

 

Phone:(936) 499-5780