Corpus Christi Chapter 13 Bankruptcy Lawyer

Chapter 13 bankruptcy in Corpus Christi

Chapter 13 bankruptcy or reorganization bankruptcy, uses the income of a debtor over time to pay down what is owed creditors. Chapter 13 allows consumers to restructure their debt payments and keep assets.

Chapter 13 is different from Chapter 7 bankruptcy. Chapter 7 bankruptcy will erase most debt, but requires liquidation of assets. Under Chapter 13 bankruptcy, a debtor enters into a repayment plan to remove debts. Hiring an attorney that is highly skilled in Chapter 13 in Corpus Christi is a wise decision to assist you in determining if this is the appropriate route to take. In addition, your Corpus Christi Chapter 13 bankruptcy lawyer can guide you through the complex legal process of Chapter 13 in Corpus Christi.

The Chapter 13 repayment plan

The crux of any Corpus Christi Chapter 13 bankruptcy is the repayment plan. Following this plan will ensure that all remaining debts will be wiped out. Before debts are wiped out, a debtor must provide to the court proof of such items as being current on alimony and child support payments. A debtor must also complete a budget counseling session with an approved US Trustee agency.

Determining eligibility

To file for Corpus Christi Chapter 13 bankruptcy you will need an income in order to prove to the court that you can afford to meet your payment obligations. If your income is irregular or too low, the court might not allow you to file for Chapter 13. If your total debt burden is too high, you will also be found ineligible.

The skilled legal guidance you need

The attorneys at the Corpus Christi, Texas Cavada Law Office are skilled in all aspects of Chapter 13 bankruptcy in Corpus Christi. If you have any questions about Chapter 13 bankruptcy do not hesitate to contact us for a free evaluation of your financial situation. You owe it to yourself and your family to speak with an experienced bankruptcy lawyer today. There is nothing to lose.