Chapter 13 Bankruptcy Attorney Services

SERVING LIBERTY, JASPER & BEAUMONT, TX & THE SURROUNDING AREAS

If you are struggling to manage your debts and are looking for a way to regain financial stability, the Maida Law Firm, P.C. is here to help. As a trusted bankruptcy law firm serving Beaumont, Liberty, Jasper, and the greater Eastern District of Texas, we specialize in guiding clients through Chapter 13 bankruptcy with compassion, dedication, and legal excellence.

Chapter 13 bankruptcy, often referred to as a "wage earner's plan," allows individuals with regular income to develop a plan to repay all or part of their debts over a period of three to five years. This structured approach provides an opportunity to protect assets like your home and car, catch up on overdue mortgage payments, and avoid the devastating consequences of foreclosure. For many, Chapter 13 serves as a lifeline to financial recovery when Chapter 7 is not an option.

If you are ready to explore whether Chapter 13 bankruptcy is right for you, contact Maida Law Firm, P.C. today. We have the experience, knowledge, and commitment to help you achieve a fresh start. Our service areas include Beaumont, Dayton, Houston,  Jasper, Liberty, Lufkin, Nacogdoches, Orange, Port Arthur, and Woodville, and other communities throughout the Eastern District of Texas.

WHAT IS CHAPTER 13 BANKRUPTCY?

Chapter 13 bankruptcy is designed for individuals who have a steady income but are overwhelmed by their debt load. Unlike Chapter 7 bankruptcy, which involves liquidating non-exempt assets to pay creditors, Chapter 13 allows you to retain your property while making manageable payments over time.

Here’s how it works:



• You propose a repayment plan that lasts three to five years.
• Payments are made to a bankruptcy trustee, who distributes the funds to your creditors.
• At the end of the repayment period, qualifying remaining unsecured debts may be discharged.

Chapter 13 is often an excellent option for those who:

• Are behind on mortgage payments and want to save their home.
• Owe tax debts or child support arrears.
• Have valuable assets they want to keep.
• Do not qualify for Chapter 7 bankruptcy due to higher income levels.

By filing for Chapter 13 bankruptcy, you can stop foreclosure proceedings, prevent repossession of your vehicle, halt creditor harassment, and regain financial stability.

BENEFITS OF CHAPTER 13 BANKRUPTCY

Choosing Chapter 13 bankruptcy offers several distinct advantages over other forms of debt relief:

• Protect Your Home and Other Assets: Chapter 13 allows you to stop foreclosure and make up missed mortgage payments over time.
• Consolidated Payments: You make one affordable monthly payment to the trustee, simplifying the repayment process.
• Discharge of Certain Debts: Upon successful completion of your repayment plan, qualifying debts, such as credit card balances and medical bills, may be discharged.
• Lower Interest Rates: Some debts, like car loans, can be renegotiated to lower interest rates.
• Protection from Creditors: Once you file for Chapter 13, an automatic stay is issued, halting creditor calls, wage garnishments, lawsuits, and collection actions.
• Flexible Terms: Your repayment plan can be adjusted if your circumstances change during the repayment period.

We work closely with you to customize a Chapter 13 repayment plan that meets your financial needs while ensuring you stay on track toward lasting debt relief.