Lake Jackson Chapter 13 Bankruptcy Lawyers
The United States is the richest nation on the planet and in general, its residents experience a degree of prosperity that is significantly greater than that found elsewhere. But the financial demands of modern life often render an individual exceptionally vulnerable to any unexpected change of circumstance or significant life event that increases his or her debt load. In fact, taking on substantial debts is considered something of a rite of passage since it is so commonly required for the funding of higher education, the purchase of a car, or the purchase of a home.
Despite the most noble of intentions, you may have found yourself in the position of being unable to keep up with the demands of your creditors. Do not let aggressive collection efforts interfere with your daily life. Contact the Lake Jackson Chapter 13 bankruptcy lawyers of Gipson & Norman at 800-291-0898 to schedule your free initial consultation.
Information about Chapter 13 Bankruptcy
When a person becomes unable to pay his or her debts according to the terms of the established contract, then bankruptcy may offer a comparatively favorable resolution to both debtor and creditor alike. There are several different forms of bankruptcy protection outlined in the United States Bankruptcy Code, and the following information pertains to Chapter 13:
- During the bankruptcy period, creditors may not contact the debtor
- Foreclosure proceedings are halted by a Chapter 13 filing
- Only individuals who are currently employed can seek Chapter 13 protection
- The debtor will propose a 3-5 year payment plan as part of the process
- A filer’s assets are not subject to a bankruptcy sale
Contact Us
Though you may be tempted to continue scrambling, in all likelihood the only result will be that your financial life will be more seriously tarnished. Contact the Lake Jackson Chapter 13 bankruptcy lawyers of Gipson & Norman at 800-291-0898.
