An individual cannot file under chapter 13 or any other chapter if, during the preceding days, a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property. Our Law Offices. Ted Machi & Associates, P.C. – Arlington Office N Cooper St #, Arlington, TX () Ted Machi & Associates, P.C. – Mansfield Office. Chapter 7 bankruptcy involves liquidating your non-exempt assets and discharging most, if not all, of your debt. To qualify for Chapter 7, applicants must pass a means test. Chapter 13 bankruptcy does not discharge your debt, but rather restructures it and establishes a manageable payment plan for applicants to maintain.
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Fresh Start Bankruptcy Attorneys is a legal practice with over 33 years' experience assisting individuals and businesses in the Arlington, Texas, metro area. Founded in , it has additional offices in Carrollton, Benbrook, and Sugar Land. The firm helps clients file for Chapters' 7 and 13 bankruptcy, and stop foreclosures, harassing calls from creditors, vehicle repossession, financial lawsuits, IRS garnishments, and gets them back on track.
Fresh Start Bankruptcy Attorneys offer free consultations. Hill Gilstrap PC is a law firm with over 45 years' experience serving clients throughout the Arlington, Texas, metro area.
It represents individuals, governmental entities, and public and private companies with bankruptcy-related matters. The firm's attorneys use their experience and education to guide clients through the bankruptcy process and assist with debt repayment plans, foreclosures, and vehicle repossession.
Other areas of practice include commercial litigation, real estate finance, construction law, acquisition and development, and labor and employment law. Hixson Law Firm has over 30 years' experience serving clients throughout the Arlington, Texas, metro area. It helps individuals and businesses file for Chapters 7 and 13 bankruptcy relief.
Attorney John A. Hixson meets with clients, reviews their financial situations, advises them of their debtors' rights, and guides them through the bankruptcy process. The firm also handles real estate transactions, probate cases, family law, and litigation for property title disputes, foreclosure, and construction disputes. The legal practice helps clients choose the best debt relief options and protect their businesses, assets, and finances with Chapter 11 reorganizations, Chapter 7 personal and business bankruptcy filings, and Chapter 13 reorganization.
It also offers Chapter 11 creditor representations and mediation services for creditors and debtors. Other focus areas include business planning and litigation. Norred Law is a full-service legal firm located in the Arlington, Texas, metro area.
Founded in , it assists individuals and businesses filing for Chapters 7, 11, and 13 bankruptcy protection. The firm's attorneys meet with clients, review their situation, and helps determine the best solution for their debts, including help negotiate payment arrangements when bankruptcy isn't an option.
Norred Law also provides creditors' rights representation for bankruptcy, probate, and estate litigation. Border Street Arlington, TX The Law Office of Donald W. Ferry is a full-service law firm located in the Arlington, Texas, metro area. Federal Bankruptcy law benefits both debtors and creditors by seeing that debtors get debt relief and creditors collect some of the debts owed.
The types of bankruptcy filings are referred to by the chapter of the federal Bankruptcy Code that describes them. Generally, consumers use Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. In no case may a plan provide for payments over a period longer than five years.
During this time the law forbids creditors from starting or continuing collection efforts. This chapter discusses six aspects of a chapter 13 proceeding: the advantages of choosing chapter 13, the chapter 13 eligibility requirements, how a chapter 13 proceeding works, making the plan work, and the special chapter 13 discharge. Chapter 13 offers individuals a number of advantages over liquidation under chapter 7. Perhaps most significantly, chapter 13 offers individuals an opportunity to save their homes from foreclosure.
By filing under this chapter, individuals can stop foreclosure proceedings and may cure delinquent mortgage payments over time. Nevertheless, they must still make all mortgage payments that come due during the chapter 13 plan on time.
Another advantage of chapter 13 is that it allows individuals to reschedule secured debts other than a mortgage for their primary residence and extend them over the life of the chapter 13 plan. Doing this may lower the payments.
Chapter 13 also has a special provision that protects third parties who are liable with the debtor on "consumer debts. Finally, chapter 13 acts like a consolidation loan under which the individual makes the plan payments to a chapter 13 trustee who then distributes payments to creditors.
Individuals will have no direct contact with creditors while under chapter 13 protection. These amounts are adjusted periodically to reflect changes in the consumer price index. A corporation or partnership may not be a chapter 13 debtor. An individual cannot file under chapter 13 or any other chapter if, during the preceding days, a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property upon which they hold liens.
In addition, no individual may be a debtor under chapter 13 or any chapter of the Bankruptcy Code unless he or she has, within days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing. There are exceptions in emergency situations or where the U. If a debt management plan is developed during required credit counseling, it must be filed with the court. A chapter 13 case begins by filing a petition with the bankruptcy court serving the area where the debtor has a domicile or residence.
Unless the court orders otherwise, the debtor must also file with the court: 1 schedules of assets and liabilities; 2 a schedule of current income and expenditures; 3 a schedule of executory contracts and unexpired leases; and 4 a statement of financial affairs.
The debtor must also file a certificate of credit counseling and a copy of any debt repayment plan developed through credit counseling; evidence of payment from employers, if any, received 60 days before filing; a statement of monthly net income and any anticipated increase in income or expenses after filing; and a record of any interest the debtor has in federal or state qualified education or tuition accounts.
The debtor must provide the chapter 13 case trustee with a copy of the tax return or transcripts for the most recent tax year as well as tax returns filed during the case including tax returns for prior years that had not been filed when the case began.
A husband and wife may file a joint petition or individual petitions. The Official Forms may be purchased at legal stationery stores or downloaded from the Internet at www. They are not available from the court. Normally the fees must be paid to the clerk of the court upon filing. With the court's permission, however, they may be paid in installments. The number of installments is limited to four, and the debtor must make the final installment no later than days after filing the petition.
For cause shown, the court may extend the time of any installment, as long as the last installment is paid no later than days after filing the petition.
If a joint petition is filed, only one filing fee and one administrative fee are charged. Debtors should be aware that failure to pay these fees may result in dismissal of the case.
In order to complete the Official Bankruptcy Forms that make up the petition, statement of financial affairs, and schedules, the debtor must compile the following information:. Married individuals must gather this information for their spouse regardless of whether they are filing a joint petition, separate individual petitions, or even if only one spouse is filing. In a situation where only one spouse files, the income and expenses of the non-filing spouse is required so that the court, the trustee and creditors can evaluate the household's financial position.
When an individual files a chapter 13 petition, an impartial trustee is appointed to administer the case. In some districts, the U. The chapter 13 trustee both evaluates the case and serves as a disbursing agent, collecting payments from the debtor and making distributions to creditors. Filing the petition under chapter 13 "automatically stays" stops most collection actions against the debtor or the debtor's property.
Filing the petition does not, however, stay certain types of actions listed under 11 U. The stay arises by operation of law and requires no judicial action. As long as the stay is in effect, creditors generally may not initiate or continue lawsuits, wage garnishments, or even make telephone calls demanding payments.
The bankruptcy clerk gives notice of the bankruptcy case to all creditors whose names and addresses are provided by the debtor. Chapter 13 also contains a special automatic stay provision that protects co-debtors.
Unless the bankruptcy court authorizes otherwise, a creditor may not seek to collect a "consumer debt" from any individual who is liable along with the debtor.