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Fort Worth Texas Bankruptcy Legal Blog

What happens during the Chapter 13 bankruptcy process?

Dealing with overwhelming debt can feel like a hopeless situation. While you may feel helpless to do anything to make the constant harassment from creditors stop or catch up on your outstanding balances, there are actually options available to you. If you are behind on your mortgage and are facing threats of losing your Texas home, you may consider the benefits of Chapter 13 bankruptcy. 

Filing for bankruptcy can be a frightening prospect. There are many misconceptions about this process, but ultimately, it can be a positive way for you to confront debt and save your home from foreclosure. It can be useful to understand more about how this process works and what you should expect after filing. 

Will I lose my personal property if I file for bankruptcy?

The decision to file for bankruptcy is not an easy one, and it is rarely the first choice for many Texas consumers. However, if you find yourself overwhelmed by debt and harassed by creditors at all hours, it may be time to consider this option as a way by which you can reclaim your financial future.

Many people are afraid that filing for bankruptcy could mean that they will lose all or most of their personal property. These misconceptions are quite common, and while Chapter 7 bankruptcy is known as liquidation bankruptcy, that does not mean that you will have to give up your stuff if you file. In fact, many Texas consumers who choose this option find that they are able to keep much more of their property than they originally assumed. 

Fight back against creditor harassment

Most people, whether they reside in Texas or elsewhere, struggle financially at some point in their lives. Things happen, debt accrues and paying it off can seem impossible. Then it begins, creditor harassment. The constant phone calls, the threatening letters, it can all be too much to bear.

If you are a victim of creditor harassment, what can you do? What legal protections do you have?

Bankruptcy – Chapter 7 vs. Chapter 13

Millions of hardworking Americans experience financial difficulties every year. Perhaps it’s a loss of a job or maybe credit card debt gets out of control, and then suddenly you are on a downward financial spiral. Filing for personal bankruptcy may be hard to accept, but it is truly a viable solution that will bring an end to harassing phone calls, letters from creditors or even people showing up at your home.

The most common choices for individuals under the U.S. Bankruptcy Code are Chapter 7 and Chapter 13. Both provide protection, but there are major differences. Below is a quick reference guide to see if one of these could provide financial relief for you:

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Steele Law Firm, PLLC
3629 Lovell Ave
Ste. 100
Fort Worth, TX 76107

Phone: 682-990-9372
Fax: 866-292-2348
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