Chapter 13 Bankruptcy
Reorganize Your Debt and Protect What Matters Most with Chapter 13 Bankruptcy
If you have a steady income but are struggling to keep up with your mortgage, car payment, or other debts, Chapter 13 Bankruptcy may allow you to catch up over time while keeping your property. At the Law Office of H. Bryan Hicks in Marble Falls, Texas, I help clients build a manageable repayment plan and move forward with confidence.
What Is Chapter 13 Bankruptcy?
Chapter 13 Bankruptcy, sometimes called a “wage earner's plan,” allows individuals with regular income to reorganize their debts into a repayment plan that typically lasts three to five years. Rather than liquidating assets, Chapter 13 allows you to keep your property while catching up on missed mortgage or car payments and repaying a portion of your unsecured debt.
Is Chapter 13 Bankruptcy Right for You?
Chapter 13 Bankruptcy is designed for individuals with a steady source of income who need time and structure to repay their debts. Unlike Chapter 7, Chapter 13 lets you keep your assets, including your home, while you work through a court-approved repayment plan.
Chapter 13 may be a good option if:
- You have a steady income but are behind on mortgage or car payments.
- You want to stop foreclosure or repossession and catch up on missed payments over time.
- You have too much income or too many non-exempt assets to qualify for Chapter 7.
- You want to protect a co-signer on a debt from collection efforts.
How I Can Help
Building a Chapter 13 repayment plan takes careful attention to your income, expenses, and debts. I am here to guide you through every step, ensuring your plan is realistic and that your rights are protected. Here's how I can assist you:
Initial Consultation
We'll start with a free consultation to review your income, debts, and goals to determine if Chapter 13 is the right path for you.
Building Your Repayment Plan
I will help you prepare a repayment plan that fits your budget and satisfies the requirements of the bankruptcy court.
Filing Your Petition
I will prepare and file your bankruptcy petition and proposed plan, ensuring all documentation is accurate and submitted on time.
Representing You in Court
I will represent you at the meeting of creditors and the confirmation hearing, and address any objections that may arise.
Guiding You Through the Plan
Over the life of your three- to five-year plan, I remain available to help you navigate any changes in your circumstances.
What to Expect During the Chapter 13 Process
While every case is unique, the Chapter 13 Bankruptcy process generally involves the following steps:
- 1
Credit Counseling
Before filing, you must complete a credit counseling course from an approved provider.
- 2
Filing Your Petition and Plan
I will help you file your bankruptcy petition along with a proposed repayment plan detailing how you will repay your creditors over time.
- 3
Automatic Stay
Once your petition is filed, an automatic stay goes into effect, halting foreclosure, repossession, wage garnishment, and most other collection actions.
- 4
Meeting of Creditors
You will attend a meeting of creditors, where the bankruptcy trustee and any creditors who choose to attend may ask you questions about your plan.
- 5
Plan Confirmation
The bankruptcy court will hold a hearing to confirm your repayment plan, which typically lasts three to five years.
- 6
Completing the Plan and Discharge
Once you have made all the payments required under your plan, your remaining eligible debts will be discharged.
Life After Chapter 13 Bankruptcy
Completing a Chapter 13 repayment plan gives you the opportunity to become current on your secured debts, discharge remaining eligible unsecured debt, and move forward with a stronger financial foundation. I can provide guidance on rebuilding your credit and maintaining your financial stability once your plan is complete.
Why Choose H. Bryan Hicks for Your Chapter 13 Bankruptcy?
With over 30 years of experience in bankruptcy law, I understand the challenges you face and am committed to helping you achieve the best possible outcome. When you work with me, you can expect:
Personalized Attention
I take the time to understand your unique financial situation and tailor your repayment plan to meet your needs.
Expert Guidance
I bring a wealth of knowledge and experience to every case, ensuring that your bankruptcy process is handled efficiently and effectively.
Compassionate Support
I recognize the emotional toll that financial difficulties can take, and I am here to provide support and understanding throughout the process.
Start Your Journey to Financial Freedom
If you're struggling with debt and considering Chapter 13 Bankruptcy, don't wait to seek help. Contact my office today to schedule your free consultation. I proudly serve clients throughout Marble Falls, Burnet, Spicewood, and the surrounding Highland Lakes region.
Let's work together to reorganize your debt and give you the fresh start you need to rebuild your life.
Schedule Your Free Consultation