Consumer Bankruptcy Lawyers in Houston, Texas

Find the right Consumer Bankruptcy attorney in Houston, TX

Bankruptcy is a legal process allowing an individual or business to have some or all of their debt absolved. It is almost always considered as a last resort because it can have some negative long-term consequences which must be considered, even if you ultimately decide that they are outweighed by the benefits. Since it's a product of federal law, bankruptcy is handled in federal courts. Therefore, the rules and procedures governing it in Texas will be the same as anywhere else in the country. Particular courts in Houston, Texas will have some unique rules, however, so you should consult with a local lawyer before you file.

Chapter 7 Bankruptcy in Houston, Texas

There are 2 common types of consumer bankruptcies in Houston, Texas: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 liquidates some of the debtor's assets. It requires a certain percentage of the debtor's assets to be sold off to pay as much of his or her debt as possible. However, many types of property that most people own are exempt, meaning that they don't need to be sold. This often includes houses, vehicles, insurance policies, and basic personal items, like clothing. These assets are not available to creditors.

Once eligible assets are sold, and the proceeds turned over to the creditors, most remaining debt is cleared. However, some types of debt cannot be discharged in bankruptcy, including student loans, taxes, child support, personal injury awards, and fines. If most of your debt in Houston, Texas is not dischargeable, you might want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Houston, Texas

Chapter 13 Bankruptcy in Houston, Texas is very different from Chapter 7. Whether or not it is a better option is highly dependent on the facts of each particular case. Chapter 13 bankruptcy does not excuse debt, it restructures it. This involves a court coming up with an altered repayment plan designed to be manageable for the debtor. This new plan sets aside the terms of the original contracts that created the debt in the first place. This creates a new payment structure, normally involving a single monthly payment, that the debtor should find manageable.

Which Type of Consumer Bankruptcy Should I File in Houston, Texas

Whether Chapter 7 or Chapter 13 is the right choice for you depends heavily on your particular situation. If you have a steady income stream, and a lot of non-exempt property, Chapter 13 might be right for you. If you don't have a steady income, and most of your property is exempt, Chapter 7 might be a better way to go.

Regardless of your situation, you should speak with an attorney in Houston, Texas who is experienced in bankruptcy before making a decision. They will be able to advise you of your options, and the likely outcomes of each one, allowing you to make a much more informed decision.

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Life in Houston

Houston, Texas is a large area with many fun-filled attractions for tourists to enjoy. For starters, the Lyndon B. Johnson Space Center consists of 1,620 acres and 100 facilities where people can experience a zero-gravity environment and a virtual rocket launch. For all those with secret astronaut aspirations, this NASA attraction is perfect!

The Houston Zoo has over 4,500 animals and is a great place for some family fun. Kemah Boardwalk consists of a large amusement park, Ferris wheel, train ride, hotels, and restaurants. It is the mini-Disneyland of Houston!

Other popular attractions include the Museum District, Downtown Aquarium, Galleria Mall, and Bayou Place, the popular entertainment megaplex filled with theatres, bars, lounges and restaurants.

With a large population of 2.1 million people, it is natural that a large legal industry is needed to suit the needs of so many. With a few law schools in Houston producing many graduates, the mid to small sized law firms adequately handle the citizens' legal needs.