Fort Bend County Chapter 13 Bankruptcy Lawyers
There are few challenges that are more broadly shared among families across all walks of modern American life than the financial pressures of living with mounting debt. The condition of the healthcare system and the extraordinary costs of medical care in this country leave many families vulnerable to a complete collapse in the event of a serious accident or illness. Creditors, however, have little sympathy or concern for the condition of the debtors they have in their grasp.
In recognition of the inflexibility of these situations, the United States Bankruptcy Code contains a number of provisions that are intended to help debtors and creditors achieve an equitable resolution to these problematic issues. If you are struggling with your financial obligations, contact the Fort Bend County Chapter 13 bankruptcy lawyers of Gipson, Norman & Root today at 800-291-0898.
Chapter 13 Qualifications and Considerations
Depending upon the circumstances of your individual situation, there are different bankruptcy options that are available to you. Learning the differences and the conditions imposed by each is an important step in the process of rebuilding a better financial future. The following are some important aspects of Chapter 13:
- It is restricted to individuals who are presently employed
- Unlike Chapter 7, there is no forced liquidation of assets
- Debts are to be repaid over a 3-5 year plan proposed by the debtor
- Foreclosure proceedings are halted by a filing
- No collection efforts may be exercised during the period of the bankruptcy
Contact Us
Let us help you put an end to this period of financial struggle. Contact the Fort Bend County Chapter 13 bankruptcy lawyers of Gipson, Norman & Root at 800-291-0898 to schedule a free initial consultation.
