Kemah Chapter 13 Bankruptcy Lawyers
The ongoing challenge of maintaining a desirable standard of living while continuing to make ends meet is one of the universal struggles shared among people in all geographic regions and across all walks of life. During the latter part of the 20th century and the beginning of the 21st, this has been further complicated by the heavy dependence on entering into debt to address substantial expenses including healthcare, education, and home ownership. This leaves a person vulnerable to financial hardship in the event of a medical emergency or other adverse life event.
If you are currently employed but find that you are unable to make payments in accordance with your financial agreements, then it may be appropriate to consider filing for bankruptcy protection. Contact the Kemah Chapter 13 bankruptcy lawyers of Gipson, Norman & Root at 800-291-0898 to schedule a free initial consultation with a skilled and experienced attorney.
Some Considerations Regarding Chapter 13 Bankruptcy
The United States Bankruptcy Code offers debtors and creditors that opportunity to attain a degree of somewhat mutually beneficial closure when an individual or company lacks the financial resources to make timely and adequate payments. Each chapter of the law addresses a different situation, and some of the considerations regarding Chapter 13 are:
- Creditors are barred from contacting the debtor throughout
- Foreclosure proceedings are disallowed during the bankruptcy period
- A Chapter 13 filer must be an individual who is presently employed
- Debts payments will be restructured according to a 3-5 year plan proposed by the debtor
- Assets do not typically have to be liquidated as they would with Chapter 7
Contact Us
Living with the weight of overwhelming debt can have a negative effect on many aspects of your life. Do not endure it longer than you must. Contact the Kemah Chapter 13 bankruptcy lawyers of Gipson, Norman & Root at 800-291-0898.
