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CHAPTER 13 - Debt Consolidation or Bankruptcy Reorganization
The Smith Law Firm, PC provides Bankruptcy legal services in the Dallas /
Fort Worth Metroplex area and limits its practice to the Northern District
of Texas.
Under Chapter 13, you can re-structure your debts and take over 5 years to pay all or part of them. Requirements are:
- You must have regular income;
- Your debts must be less than $269,250 for unsecured debts, and
$807,750 for secured debts (those debts with collateral such as your house).
- Creditors must receive at least as much as they would have received had
you file under a Chapter 7 bankruptcy.
You propose your re-payment plan, in good faith, and make monthly
payments to a Chapter 13 Trustee. The Trustee then repays the
creditors according to the plan and receives a fee of 10% of the
payments made.
Once payments are completed according to the plan, you will receive a discharge.
Exempt from discharge (meaning you must pay these) are:
- Any creditor not properly listed on the bankruptcy schedule or not properly notified of your bankruptcy;
- Student loans;
- Responsibility for injuries caused to others while driving while intoxicated;
- Most child support or alimony payments;
- Certain taxes.
To file for your Chapter 13 bankruptcy: We only need the $185 filing fee for the court.
The remainder of our fee payments will be made to us through the Bankruptcy Trustee under your plan.
For more information, please schedule a FREE INITIAL CONSULTATION.
The Smith Law Firm, PC
660 Preston Forest Center #219
Dallas, TX 75230-2718
214-669-0606 ◊ fax 469-633-0587
email cheryl@riverasmith.com
Fully licensed by the Supreme Courts of Texas and Georgia, not certified by the Texas or Georgia Boards of Legal Specialization.
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