THE LAW OFFICE OF

OTHA T. CARPENTER, ESQ.

&

ASSOCIATES

Attorney at Law

713-227-2833

4606 FM 1960
Suite 400
Houston, TX 77069

BANKRUPTCY

 

 

YOU DESERVE A FRESH START

                In this day of financial uncertainty, the decision to file for bankruptcy is a very difficult and agonizing decision.  In most instances, you were able to pay your debts and meet your monthly obligations and timely pay your mortgage, car payments, credit card and medical bills.  However, unforeseen circumstances, being laid off from work or loss of employment, made keeping the debts current impossible and mentally frustrating.

                The bankruptcy laws can provide relief and allow you to Get A Fresh Start.  There are various Chapters in the bankruptcy code to meet various circumstances.  For instance, if your lay off from employment is temporary and there is a remote chance you may be called back to work,  Chapter 13 Reorganization may be the thing.  You could possibly be able to pay  the arrearage or past due debts over the term of the reorganization plan. Once the bankruptcy is filed an automatic stay is in effect that prevents mortgage companies from foreclosing on your home or car dealers from repossessing your vehicle.  If the reorganization plan is confirmed by the Court, you would just make payments to the trustee in efforts to obtain a financial peace of mind.

                On the other hand, if your employment is terminated, and you do not have  monies to pay your monthly debts, then a Chapter 7 discharge may be the best thing for you.  Filing under Chapter 7 allows you to exempt or keep certain personal property and real estate.  The purpose is to obtain a discharge from the court which states that you do not have to pay debts, like outstanding credit card and medical bills.  You can reaffirm or continue to pay some debts, like your automobile even if other debts are discharged.   Fill out the information on the Contact Page an our office will contact you.

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