5080 Spectrum Drive Suite 1000 East
Addison, TX 75001
Office phone: (972) 752-1928
Copyright Law Offices of Kenneth S. Harter, 2014. All rights reserved.
Chapter 13 reorganization allows you to pay only that amount you can afford for a limited period of time (36-60 months) and then discharge the balance. This area can appear complicated, and you will have questions. Please call today and we can arrange to set up a free consultation, to discuss your situation, your questions and your options.
If you feel overwhelmed by your debts, are being chased by creditors or are about to have a house foreclosed or car repossessed, then bankruptcy may be your best options. In today’s world, more and more people feel find themselves in this situation. Usually, it is because of a lost job, healthcare bills or a business failure. But whatever the cause of your financial distress, the relief offered by the bankruptcy courts is available to you.
Filing a bankruptcy will immediately stop your creditors from harassing you and stop any effort to collect a judgment, pursue a lawsuit, foreclose a house or repossess a car. And, even though you are filing bankruptcy, the law will allow you to keep your home, your car, personal belongings and possibly all of your property.
Upon completion of your bankruptcy, you will no longer owe most if not all of your debts. Credit card debt and unsecured debt is generally wiped out or “discharged”. Some, but not all taxes, are dischargeable. Student loan debt may be discharged under some circumstances.
There are two types of personal bankruptcy: liquidation and reorganization.