Chapter 13 Bankruptcy

Fort Worth Chapter 13 Bankruptcy Attorney

Are you in danger of losing your home, your car, or both because of delinquent accounts? Do you have an income but just cannot seem to get caught up on your debt? If so, consider speaking with an experienced lawyer from the law office of Jim Morrison & Associates, PC. We help people file Chapter 13 bankruptcy under the new bankruptcy laws.

Would you like to speak with someone about consumer credit counseling and debt settlement? Please contact Attorney Jim Morrison today to arrange your free consultation. His experience has helped thousands of people get relief from their debts.

Wage Earners

According to Chapter 13 Bankruptcy laws, wage earners are not only people who have jobs. Wage earners must have income coming in from a source, but this source does not have to be an employer. The source can be an ex-spouse, Social Security Disability income, or other source. The means test under the new bankruptcy laws will be used to determine an individual's disposable income. Because it is harder to be eligible to file for Chapter 7 Bankruptcy, and an increasing number of people are filing Chapter 13.

Repay Debt Between Three and Five Years

Individuals who own homes will nearly always file Chapter 13. Chapter 13 Bankruptcy is a reorganization of debt that allows a person to repay debts between a three and five year time frame. This is a great way for people to get current on their debts and accounts, keep their homes and cars, and get a new start on their finances. People who file Chapter 13 are not necessarily required to pay back all debt. It is important to meet with an experienced attorney to discuss options.

Each personal bankruptcy case is appointed a bankruptcy trustee by the U.S. Trustees Office. The trustee will collect and distribute payments.

Contact Jim Morrison & Associates, PC to arrange your consultation today.