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Chapter 13 Bankruptcy - Dallas Texas
Chapter 13 Bankruptcy, also known as the wage earner’s plan, is essentially an interest-free repayment plan to cure most debts. Chapter thirteen bankruptcy allows consumers to seek temporary relief from creditors while establishing a repayment plan. Typically, you will be asked to commit to paying your creditors over a period of 3 to 5 years. During your debt repayment period, your creditors must abide by the terms of your Chapter 13 bankruptcy plan and halt collection attempts.
An experienced Chapter 13 bankruptcy attorney can help you consolidate your debts and forge a strategic plan for successful debt management. Outstanding debts that can be consolidated include auto loans, credit card debt and past outstanding mortgage payments. Loan cosigners will also be protected under your agreement as long as you hold up your end of the contract by making regular payments to the court.
Chapter thirteen offers a perfect solution for consumers who have a steady monthly income but need a chance to catch up. Filing could be right for you if your mortgage company is threatening foreclosure, your car is getting repossessed or a government entity is garnishing your wages. The advantages and disadvantages of filing bankruptcy vary from person to person, so be sure to contact our office to learn more about your specific situation.
Contact an experienced Bankruptcy Lawyer in Dallas Texas
Stop repossession and collection harassment while protecting your home equity with Chapter 13 status. Don’t delay in filing because your rights may be restricted the longer you wait. Learn more about Chapter 13 bankruptcy law by contacting experienced Chapter 13 Bankruptcy Lawyer Billy D. Price in Dallas Texas for your confidential, no-charge consultation.
