Chapter 13 Bankruptcy Attorney In Beaumont, Texas
What Is A Chapter 13 Bankruptcy?
If you're struggling to keep up with your mortgage or car payments, Chapter 13 bankruptcy could be the solution to help safeguard your property and take charge of your finances again. By filing for Chapter 13, you can halt foreclosure, prevent the repossession of your vehicle, and in some instances, lower your car loan payments. You might even be eligible for a repayment plan that allows you to repay only a fraction of your debt while preserving all of your assets, including your home and car.
Additionally, if you've lost your driver’s license due to unpaid parking citations, Chapter 13 may offer a route for reinstatement. Frank Maida in Beaumont, Texas, has spent over 45 years assisting individuals in utilizing Chapter 13 to prevent foreclosure and restructure their debts. To determine if this option is suitable for you, reach out to Maida Law Firm, P.C. today to arrange a consultation.
Call Maida Law Firm, P.C. at 409-898-8200 to schedule a consultation with a lawyer today.
How Do I Qualify for a Chapter 13 Bankruptcy?
To qualify for Chapter 13 bankruptcy, you need a steady source of income sufficient to make regular payments as determined by the court. This income doesn’t have to come from a traditional job—it can include Social Security, disability benefits, unemployment, retirement income, or rental earnings. However, certain individuals, like stock or commodity brokers, are not eligible for Chapter 13. Corporations cannot file under Chapter 13 either, but sole proprietors and self-employed individuals may qualify if their debts meet specific limits. Additionally, your repayment plan typically lasts between three and five years, and you’ll need to pass a means test to confirm your eligibility.
Frank Maida in Beaumont, Texas, can review your financial situation before you file to help determine if Chapter 13 is the right choice for you. Contact Maida Law Firm, P.C. today to get started.
What Happens During a Chapter 13 Proceeding?
First, you’ll need to demonstrate your eligibility by passing the means test. Once you file for Chapter 13 bankruptcy, it immediately stops foreclosures, wage garnishments, repossessions, lawsuits, and other collection efforts. Frank Maida will work with you to develop a repayment plan, which must be approved by the court. The court reviews the plan to ensure it is proposed in good faith, that unsecured creditors receive at least as much as they would under a Chapter 7 bankruptcy, and that your payments reflect all disposable income—not needed for basic living expenses.
While the process can be complex, having Frank Maida in Beaumont, Texas, guide you through it provides the support you need to move toward a fresh financial start. Contact Maida Law Firm, P.C. today to begin.
Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.
Have Questions?
Call Maida Law Firm, P.C. at 409-898-8200 today to speak with Frank Maida. He’ll take the time to listen to your situation, answer your questions, and help you explore the best path toward financial relief. Don’t wait—reach out now and take the first step toward a fresh start.