Dallas Chapter 13 Bankruptcy Attorneys
When there is no longer any clear way for you to escape the financial burden of your debt, you may want to begin thinking about the possibility of restructuring and reducing your debt through the process of Chapter 13 bankruptcy in order to keep your property and prevent or stop wage garnishment.
Chapter 13 bankruptcy allows individuals to recover from their financial difficulty through a payment plan designed to satisfy debts and allow for future financial prosperity. However, to really take advantage of this option, you need to be able to understand and navigate a complex bankruptcy legal system. This usually requires the assistance of a bankruptcy lawyer.
The bankruptcy lawyers at Gagnon, Peacock & Vereeke, P.C. have helped individuals in Dallas and Fort Worth fight for a fresh start through Chapter 13 for more than three decades. We know every aspect of Chapter 13 bankruptcy law, and we can make sure you understand it as well. We’ll guide you through the process to make sure you get the best possible deal that allows you to maintain a maximum amount of your property and future wages.
If you are struggling with insurmountable debt, you should speak with one of the Dallas Chapter 13 bankruptcy lawyers at Gagnon, Peacock & Vereeke, P.C. to help you determine what action will be best in your unique situation. Reach out to us today at (214) 317-4448 or use the Live Chat button to set up a free consultation with one of our attorneys.
Filing for Chapter 13 Bankruptcy in Dallas
It is a great but extremely unamusing irony of the bankruptcy system that those who need it have to struggle to understand it. While it is possible to file for Chapter 13 bankruptcy without assistance, a lawyer may be necessary to not only ensure a successful filing but to make sure the individual coming through the process gets a deal that leaves them free to pursue a successful financial future.
Since Chapter 13 can involve the loss of future wages, it is crucial that the best case is put forward to ensure as little future income as possible is lost. A bankruptcy lawyer can not only provide the right strategy to achieve this goal, but also simplify the law so that the person filing understands the system and has some control over the process.
As you begin to consider the options that are available to you, our Dallas legal team will keep you completely informed so that, when it comes the time to make a decision, you will be able to act in the best interest of your family. With that in mind, our Dallas team has compiled this information on Chapter 13 bankruptcy for our Dallas and Plano residents:
Our Dallas legal team is committed to helping families in Dallas and Plano escape the burden of overwhelming debt. We will do everything we can to help you make the decisions that will be best suited to you and your family.
Gagnon, Peacock & Vereeke, P.C. has the Experience to Give You the Best Chapter 13 Bankruptcy Result
Many people are forced to file for Chapter 13 bankruptcy every year, which means there are plenty of Dallas bankruptcy lawyers around to offer assistance. Choosing the right bankruptcy lawyer whilst in the midst of struggling with debts can be particularly stressful. Which firm is best able to represent your interests? Which firm has the ability to handle all the individual complexities of your bankruptcy case? Which firm is going to make the process as stress-free as possible?
The answer to all of those questions is Gagnon, Peacock & Vereeke, P.C.. To begin with, our firm has been assisting individuals in the Dallas-Fort Worth area just like you for more than thirty years. We have assembled a team of lawyers that understand every aspect of the law for debtors, investors, and entrepreneurs.
This vast and varied experience is important because, unlike other law firms, our lawyers work together to approach each case as a team. We look for the best possible resolution to each case through the eyes of each of our experienced attorneys.
The lawyers at Gagnon, Peacock & Vereeke, P.C. are all deeply invested in our local community. We want to see every individual who is struggling with debts become a future financial success. We are committed to not just helping you become one of those future financial successes, but to making the process as easy and transparent for you as possible.
Chapter 13 Bankruptcy FAQ
If you are considering filing for bankruptcy, you likely have many questions about the process. Contact us to schedule a confidential consultation to discuss the specifics of your situation. Also, we have provided the answers to some frequently asked questions below.
What is Chapter 13 Bankruptcy?
A Chapter 13 bankruptcy involves an individual setting up a payment plan to pay off as much of their debts as possible over a set period of time. This payment plan will be reviewed by a bankruptcy court, and if it is approved, the plan will be implemented, with all remaining debt after the plan is fulfilled being discharged.
Do I Qualify for Chapter 13 Bankruptcy?
Most individuals with debt qualify for Chapter 13. Exceptions include those with extremely large debts (more than about $300,000 in unsecured debt and/or more than about $920,000 in secured debts). Stockbrokers and commodity brokers are barred from filing, regardless of their debt levels. Additionally, since Chapter 13 involves a payment plan, the individual must have regular income so that payments can be made.
How is Chapter 13 Different Than Chapter 7?
Because Chapter 7 and Chapter 13 are the most common types of bankruptcy, they often get confused. There are some important differences, though. Chapter 7 is designed for those who do not have any (and in the future are likely to continue not to have any) disposable income, while Chapter 13 is for those with reliable income. Because of this difference, Chapter 7 involves the liquidation of whatever non-exempt assets are available to pay back debts. This process is relatively short (just a few months). Chapter 13, on the other hand, usually doesn’t involve the liquidation of any assets, but because it involves small payments, it usually takes significantly longer (several years).
Will I Have to Pay Off My House If I File for Chapter 13?
Those filing Chapter 13 will likely have to pay any mortgage payments they are behind on, but they don’t have to pay off the full mortgage. They will likewise not have to pay off cars and other property (although, once again, they may have to catch up on these payments to regain collateral).
Consult with a Chapter 13 Bankruptcy Attorney in Dallas
At Gagnon, Peacock & Vereeke, P.C., our Dallas Chapter 13 bankruptcy attorneys are prepared to help you work through this legal process so that you can begin regaining control over your finances. To discuss the particulars of your finances with one of our Dallas bankruptcy attorneys, please call our Dallas offices at (214) 317-4448.