La Porte Chapter 13 Bankruptcy Lawyers
Nothing in life comes free, and money does not come easy. These are two truths that most people know. But this harsh reality affects some individuals in a profoundly different manner than others. Credit card debts and other financial obligations that accumulate in the effort to merely retain a modest standard of living can become overwhelming, leaving well-intentioned, hardworking individuals suddenly unable to keep up.
Chapter 13 Bankruptcy Considerations
The following important details about Chapter 13 offer a good snapshot of its implications:
- Creditors may not contact a bankrupt debtor during the period of the bankruptcy.
- Foreclosure proceedings are halted and may not be initiated during a Chapter 13 bankruptcy.
- Only individuals who are presently employed are eligible.
- The debtor is responsible for structuring a proposed 3-5 repayment plan.
- A debtor’s assets do not have to be subject to a liquidation sale.
The decision to pursue bankruptcy protection is never easy, and there are complicated financial and emotional factors that all influence your eventual choice. Our La Porte Chapter 13 bankruptcy attorneys can counsel you based on the legal effects of a bankruptcy filing and our past experience.
Contact Us
There is no time like the present to start erasing the mistakes of your past and building the path to your future. Contact the La Porte Chapter 13 bankruptcy lawyers of Gipson & Norman at 800-291-0898.
