Judith A. Swift
Free Consultations 214.696.6200

Chapter 13 Bankruptcy Dallas, TX

Anyone can face unforeseen circumstances that leave them confronting more debt than they can repay. But many individuals believe they cannot file for bankruptcy while earning regular income. In fact, individuals can often use Chapter 13 bankruptcy to renegotiate the terms of most debt in ways that allow them to repay all or part of the debt while still being able to afford the basic expenses of daily life. Also known as bill consolidation or wage earners bankruptcy, Chapter 13 bankruptcy can stop the harassing calls from debt collectors in Dallas, Frisco, Plano, and elsewhere, and help you work toward a debt-free future.

How a Chapter 13 Works:

In Chapter 13, you file a plan to make monthly payments to a Chapter 13 Trustee over three to five years. The Trustee keeps approximately 10% of each payment and disburses the rest to the creditors set out in the Chapter 13 Plan you propose after the Bankruptcy Court approves the Plan. When you complete your Plan, you receive a discharge of the remainder of your general unsecured debts.

Chapter 13 is often used to give you the opportunity to catch up on past-due mortgage payments or property taxes, restructure other secured loans such as car loans, and repay back taxes or back child support.

Not all debts are dischargeable in bankruptcy. The list varies with the chapter and, especially if taxes are involved, the analysis can be complex. I am a board certified bankruptcy specialist who is also admitted to practice on the United States Tax Court. When I meet with you, I will explain what- if any- of your debts may not be dischargeable.

 Chapter 13 has several important advantages over Chapter 7 for those who qualify, including the following:

  • Reduces payments on qualifying vehicles and other secured debts, making them affordable
  • Allows you to keep your home by providing the breathing room you need to catch up on your payments
  • Provides time to catch up on child support and unpaid taxes
  • Enables you to repay a portion of your credit card and other unsecured debt

Like all forms of bankruptcy, an automatic stay begins as soon as you file petition for bankruptcy. This blocks foreclosure of your home and repossession of your vehicle, and it stops the IRS from wage levies, while stopping all threatening calls.

The current economic environment has created financial strife for many individuals and businesses. As a bankruptcy attorney, I have the skills and experience to help find the right solutions and help clients work toward financial freedom. By the end of your free consultation, you can gain a clear understanding of whether Chapter 13 bankruptcy or another solution is right for you—and exactly what to do next. Call me at 214-696-6200, send an email, or stop by my office to find the fresh start you need.

A message from Judith...

I say welcome, and mean it, but I know you would love to be doing something else right now, anything but reviewing Dallas bankruptcy attorney sites. I do know how you are feeling. I have helped thousands of people who found themselves in your exact situation and are now over the ordeal and enjoying their lives again. They have been given a fresh start in life. After all, that is what the bankruptcy laws were designed to do - allow you to start over.