Houston Chapter 13 Repayment Plan Lawyers

Chapter 13 Bankruptcy is a debt relief program which allows financially strained debtors to consolidate their outstanding debts into a single payment, which a trustee then distributes to their creditors under a system of priorities. The central issue in Chapter 13 bankruptcy is the structure of the repayment plan, which must be approved by the court and then adhered to for the duration of the repayment period in order for the debtor to fulfill their obligation.

Creating and submitting a plan that works with your income and financial situation can be extremely challenging, and you would do well to seek the guidance of a skilled legal professional. Contact the experienced Houston Chapter 13 repayment plan attorneys at the Law Offices of Russell Van Beustring, P.C., at 713-973-6650 to learn more about your legal options.

What Repayment Plans Cover

In Chapter 13 proceedings, a large portion of your debt may be discharged depending on the structure and length of your payment plan, but the following secured debts must always be paid in full:

• Money owed to employees for salaries and wages.
• Car payments, mortgages, and other collateral-backed debts, should you wish to retain the property they backed by.
• Taxes
• Alimony
• Child support
• Filing fees and attorney fees

All unsecured debts, such as your credit card balance, will be repaid as possible with the remainder of your disposable income. Depending on the length of your repayment plan and the amount of disposable income that is available to put toward your debts, a percentage of this unsecured debt may be discharged with the completion of your plan.

Contact Us

If you are currently struggling to keep pace with your debt obligations, it may be appropriate to consider the relief offered by bankruptcy. Contact the experienced Houston bankruptcy lawyers at the Russell Van Beustring P.C. by calling 713-973-6650 for a free consultation to learn more about how Chapter 13 can give you a fresh start.