Overview
If you are having financial
trouble, find it difficult to pay your bills each month, face losing
your home to foreclosure or are threatened with repossession of
your automobile, you may be a candidate for bankruptcy
protection. Don't let embarrassment or fear stop you from asserting your
legal rights. Bankruptcy laws exist to help good,
hard-working, honest people through difficult and trying periods.
An experienced bankruptcy attorney may be able to help restore
your peace of mind.
Sugar Land Bankruptcy Lawyer Jane M.
McLaughlin has helped hundreds of Sugar Land area families
through financially difficult times.
For additional information go to
www.bankruptcy-houston-lawyer.com
Representation Provided in the Following Areas
Contact Us for a
Free Initial Consultation 281-242-7070
Sugar Land Attorney Jane M. McLaughlin
offers a free consultation. Call Today.
We are a debt relief agency. We help
people file for bankruptcy relief under the Bankruptcy Code.
Frequently Asked Questions
The information presented at this site is not, nor is it intended to be,
legal advice. You should contact an attorney for advice specific to your
own unique situation.
Table of Contents
- I am several months behind on my mortgage payments
and the mortgage company has threatened to foreclose on my home. Can
anything be done to save my home ?
- I have not made my car payment for a few months
and the finance company says it will repossess my car if I don't pay
now. I need my car to go to work. Is there anything I can
do to stop them.
- What is the difference between a Chapter 7 and a Chapter
13 bankruptcy?
- I have lots of credit card debt and my creditors
keep calling me, how can a bankruptcy help me?
- If I file bankruptcy will I have to appear in
court?
- What if someone has co-signed a loan for me and I
file bankruptcy?
- Will I have to give up my property if I
file a bankruptcy?
- How does a bankruptcy affect my credit rating?
- How much does it cost to file bankruptcy?
If you are unable to work out a payment plan directly with your mortgage
company, a Chapter 13 bankruptcy may allow you to save your home. Once a
bankruptcy is filed, your creditors must stop all collection activity against
you, including foreclosure proceedings. The past due amounts you owe the
mortgage company will be paid through the Bankruptcy Trustee (the person
assigned by the court to administer your bankruptcy). While you are in a
Chapter 13 bankruptcy, you must still make your regular monthly mortgage
payments and keep current with your payments to the Trustee to prevent the
mortgage company from being allowed to go forward with foreclosure.
If you are unable to work out a payment plan directly with your lender, a
Chapter 13 bankruptcy may allow you to keep your car. Once a bankruptcy is
filed, your creditors must stop all collection activity against you, including
repossession. You can pay for your car two ways in a Chapter 13 bankruptcy
depending on your individual circumstances, including how much you owe on the
car and its market value. 1) you can pay for the entire amount you owe on
the car through the bankruptcy; or 2) you can pay only for the past due amount
through the bankruptcy. If you pay only the past due amount through the
bankruptcy, you must continue to pay your regular monthly car note to the
lender.
Typically, a Chapter 7 bankruptcy is filed to obtain a discharge (you will no
longer be responsible for payment) of an obligation to pay unsecured debt when a
debtor is not in jeopardy of losing secured property such as a house or
car. A Chapter 13 is typically filed by a person with regular income when
they get behind in their house, car or other secured obligations. In a
Chapter 13 bankruptcy unsecured creditors are paid a percentage of the debt they
are owed depending on the circumstances of the individual debtor.
If you qualify, credit card debt would be dischargeable (you will no
longer be responsible for payment) in a bankruptcy. Under certain
circumstances, you may be required to repay a portion of your unsecured debt in
a chapter 13 plan. Once you file a
bankruptcy, your creditors must stop all collection activity against you,
including telephone calls and letters. If collection activity persists
notify your lawyer immediately.
If I file bankruptcy will I have to appear in court?
All bankruptcies require that you attend a creditor's meeting, where the
Trustee (the person appointed to administer your bankruptcy) will review the
documents provided when the bankruptcy is filed. Occasionally one of your
creditors will attend this meeting. Your lawyer will attend with you.
In a Chapter 13 bankruptcy, there is also a confirmation hearing, where the
judge will sign the plan you propose to repay your creditors. You will
only have to attend that hearing if your attorney tells you to.
If the loan was unsecured (no property was pledged to make sure you repay the
loan), then even if you obtain a discharge, the co-signer will be responsible
for payment. If the loan was for secured property (house, car, furniture)
no action will be taken against the co-signer as long as the payments are made.
Texas law is very generous in allowing exemptions (property the court cannot
force you to sell to satisfy your creditors) and, depending on your individual
circumstances, you will probably be allowed to keep your property. Any
non-exempt property may be sold to satisfy your creditors. Your lawyer can
provide more detailed information.
A bankruptcy will stay on your credit report for 7 to 10 years. Each
creditor has its own system of evaluating your creditworthiness for future
credit
Filing fees are $274.00 for a Chapter 13 bankruptcy and $299.00 for a Chapter
7 bankruptcy. Payment plans are available for the attorney's fees.
Contact Us Now
Call 281-242-7084 to
schedule a free telephone or in person consultation with
an experienced bankruptcy attorney. We are
conveniently located in Sugar Land (Fort Bend County) and
provide representation throughout the greater Houston area.
SUGAR LAND BANKRUPTCY LAWYER
FORT BEND CHAPTER 11, 13 ATTORNEY
