Chapter 13 Bankruptcy Attorney Serving Dallas/Fort Worth
Guidance about court-approved repayment plans, overdue payments, and protecting important property.
Understanding Chapter 13 bankruptcy
Chapter 13 bankruptcy may help individuals reorganize debts through a court-approved repayment plan. It is often considered by people who have regular income but need time and structure to address overdue payments, protect important property, or manage debts that cannot be resolved all at once.
Chapter 13 is different from Chapter 7. Instead of a relatively short liquidation case, Chapter 13 usually involves a repayment plan over several years. The plan must meet legal requirements and be approved by the bankruptcy court.
What Chapter 13 may help with
- Catch up on missed mortgage payments
- Address vehicle arrears or repossession concerns
- Manage certain tax debts
- Protect property that might be at risk in Chapter 7
- Consolidate payments through a structured plan
- Address debt while receiving bankruptcy protection
The repayment plan
A Chapter 13 plan generally proposes monthly payments over a period of time. The amount and length of the plan depend on income, expenses, assets, debts, arrears, and legal requirements. Not all debts are treated the same way.
Foreclosure and vehicle issues
Chapter 13 may provide a way to address mortgage arrears or vehicle payment problems, but timing matters. If there is a foreclosure sale, repossession risk, lawsuit, or garnishment, it is important to speak with an attorney quickly.
The automatic stay
In many cases, filing Chapter 13 creates an automatic stay that can stop many collection actions while the case is pending. This protection has limits and can be affected by prior bankruptcy filings, deadlines, and the details of the case.
Chapter 13 process overview
- Initial consultation and urgent-deadline review.
- Gather income, expense, debt, mortgage, vehicle, tax, and asset information.
- Review Chapter 13 eligibility and plan feasibility.
- Complete required credit counseling.
- File the Chapter 13 petition and proposed plan if appropriate.
- Begin plan payments.
- Attend the required meeting of creditors.
- Work through plan confirmation and any required changes.
- Complete the plan and required debtor education.
- If successful, receive a discharge of eligible debts.
When Chapter 7 may be a better fit
Chapter 7 may be more appropriate for eligible individuals who primarily need relief from unsecured debts and do not need a long repayment plan. The best option depends on income, assets, goals, debt type, and timing.
Request a Free Consultation
If you are behind on payments or worried about losing property, do not wait until the last minute. A free consultation can help identify deadlines and evaluate whether Chapter 13 may be available.
214-699-9981 | intake@johnrlawson.com
15851 Dallas Parkway, Suite 600, Addison, TX 75001
Disclaimer: The information on this page is for general informational purposes only and is not legal advice. Viewing this website or contacting the office does not create an attorney-client relationship. Bankruptcy options depend on the facts of each case. Please consult an attorney about your specific situation.