What is Chapter 7 Houston & How to File
Chapter 7 Houston or Chapter 7 Bankruptcy protection is sometimes referred to as liquidation. Chapter 7 bankruptcy generally discharges most common debts consumers have like credit cards, medical bills, unsecured loans, balances owed on abandoned leases, deficiency balances for old foreclosures and vehicle repossessions. You can even discharge debt owed on homes and vehicles if you want to surrender the home or vehicle in chapter 7 Houston bankruptcy or Chapter 7 Bankruptcy Houston.
Clients often ask, “but what if I want to keep my home or my vehicle?” As long as you are current on the payments, this isn’t a problem. If you are in arrears with those payments, then you would be required to bring them current before being allowed to reaffirm that debt. With a Chapter 7 Bankruptcy Houston, sometimes, on some debts we can renegotiate to a lower amount to assist you in moving forward. So you can pick and choose which secured debts you want to keep as long as you’re current on your payments. If you cannot bring the late payments current, then you may want to consider looking into filing a Chapter 13 bankruptcy instead.
Chapter 7 Houston
We can put a stop to phone calls and harassment by creditors by filing your chapter 7 Houston bankruptcy or chapter 7 bankruptcy houston. Filing for Chapter 7Bankruptcy Houston will also stop lawsuits filed to collect on your debts.
Additionally, some income taxes are dischargeable in bankruptcy. If the taxes are payroll taxes for a business, then you might want to consider a Chapter 13.
