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Category Archives: Chapter 13

Reasons Why Chapter13 Is Often The Best Choice

Reasons Why Chapter13 Is Often The Best Choice

WHEN IT COMES TO CONSUMER BANKRUPTCY CHAPTER 13 IS OFTEN THE BEST CHOICE Even though Chapter 7 bankruptcy can have many benefits for the Debtor who qualifies and has mainly unsecured debt they are seeking relief from, Chapter 13 bankruptcy has many advantages over Chapter 7.  Chapter 13 has the following advantages: If a Debtor… Continue Reading

Debt Limits for Chapter 13 Debtors

Debt Limits for Chapter 13 Debtors

IF YOUR DEBT EXCEEDS A CERTAIN LEVEL YOU CANNOT FILE A CHAPTER 13 BANKRUPTCY Even though Chapter 13 is the best or only solution for you from a bankruptcy standpoint, you might not be qualified to file a Chapter 13 bankruptcy because of the debt limits.As of April 1, 2016, a debtor cannot have more… Continue Reading

About Your Chapter 13 Plan Payments

About Your Chapter 13 Plan Payments

CHAPTER 13 PAYMENTS All Chapter 13 Plan payments are due thirty (30) days after the bankruptcy is filed.  If you are employed, then a Motion will be filed with the Bankruptcy Court asking for an Order to be served on your employer requiring that the bankruptcy plan payments be withheld from your wages. This process… Continue Reading

Incurring New Debt in a Chapter 13 Case

Incurring New Debt in a Chapter 13 Case

New Debt in Chapter 13 Case A Debtor cannot acquire new debt while in an active Chapter 13 case without receiving approval of the Chapter 13 Trustee and/or the Bankruptcy Court. Sometimes circumstances dictate that you must acquire new debt during a pending Chapter 13 case. If you find yourself in such a situation, then… Continue Reading

Basics of a Chapter 13 Bankruptcy Filing

Basics of a Chapter 13 Bankruptcy Filing

By Mike Wallace, Bankruptcy Attorney, serving clients in all of East Texas, including Lufkin, Nacogdoches, Palestine, Jacksonville, Tyler and other surrounding communities I am asked the question so often: “How does a Chapter 13 bankruptcy work?”, I thought I would attempt to give the basics of a Chapter 13 case.  First, Chapter 13 cases are… Continue Reading