A recent study of 60 different Texas counties shows that rates of bankruptcy have risen as more and more homeowners look to avoid foreclosure on their homes. The statistics show that in 2009 alone, $2.28 billion dollars worth of real estate was affected by bankruptcy. Unfortunately, for many homeowners who are struggling to make ends meet, bankruptcy filing may not completely protect them from foreclosure, especially if they fail to make the payments required by their bankruptcy filing.

If you or someone you love is struggling to make regular payments on their debts, contact the Galveston bankruptcy lawyers of Gipson, Norman & Root at 409-765-6000.

Following 13 months of restructuring under Chapter 13 bankruptcy, the poultry-processing company Pilgrim's Pride emerged from bankruptcy and common stock began trading on the New York Stock Exchange earlier today. The Texas company was purchased earlier this year by Greeley-based JBS USA Holdings Inc for $800 million dollars in cash. 

The company's reorganization plan under Chapter 13 provided a promise to repay all of the company's creditors in full as soon as the company can. 

If you are a business owner and are considering filing for Chapter 13 bankruptcy, contact the Galveston & Clear Lake bankruptcy lawyers of Gipson, Norman & Root at 281-332-2800 today.