Chapter 7 bankruptcy is a liquidation proceeding and is the most common form of bankruptcy filed in the United States and a debtor may be an individual, a partnership, or a corporation or other business entity.
Chapter 11 bankruptcy, commonly referred to as a reorganization, pursuant to which an individual debtor or business debtor may file for relief under the U.S. Bankruptcy Code. Individuals who do not qualify for Chapter 13 bankruptcy due to debt limitations, typically file for relief under Chapter 11.
Chapter 13 bankruptcy is reorganization specifically designed for individuals whose debts are no greater than $1,184,200 for secured debts and $394,725.00 for unsecured debts, and is the second most common form of bankruptcy filed in the United States.
Foreclosure is a legal process by which a bank, financial institution, mortgage company or secured lender can terminate your legal rights or other interest in your home or other real property. Most often this happens after you have fallen behind on your mortgage payments, property taxes, or homeowner’s association dues. In Texas, the non-judicial process of foreclosure is most commonly used and is a rather quick process.
In Texas, an installment loan (a written agreement pursuant to which you acquired the vehicle or other personal property) is secured by the creditor with a lien upon the personal property. Should you default on your payments, or committed some other breach according to the terms of the written agreement between you and the creditor, such as failing to maintain insurance, the creditor may repossess the vehicle or personal property.
Often homeowners who fall behind on their mortgage payments seek alternatives to those afforded under the U.S. Bankruptcy Code. One of those is a loan modification plan which permanently restructures a mortgage by changing its terms. Those terms include a reduction of the interest rate and/or monthly payment and can also entail conversion of a variable or adjustable interest rate to a fixed interest rate that is more financially feasible for the homeowner or extension of the term of the loan.
Credit card debt continues to be an overwhelming burden for consumers in the State of Texas. Consumers are often faced with high interest rates and then use these credit cards and maintain high balances by only paying minimum monthly payments, without a true understanding of how long it will take to repay the entire debt. Regardless of the events leading up to the accumulation of credit card debt, if it has become unmanageable and burdensome, you have options to eliminate the credit card debt.
Whether as a result of a sudden illness, a one-time medical problem or short-term treatment, or a longstanding illness or chronic medical condition, medical bills can be overwhelming and burdensome. Even with insurance, consumers can be required to pay thousands of dollars in out of pocket expenses before coverage even starts. And suddenly you find yourself draining your savings, having trouble paying for household expenses, or other financial obligations. If your medical bills, coupled with any other debt, such as credit card debt, has devastated your finances or become unmanageable, you have options.
In addition to our representation of individuals and businesses in bankruptcy and debt relief services, we also have extensive experience in creditor representation. Understanding your rights as a creditor is essential to preserving your interests. Frequently, creditors incorrectly presume that their options for recovery are severely limited or non-existent after receiving notice of a debtor bankruptcy filing. It is important to know that as a creditor you have rights.
TRAN SINGH LLP
2502 La Branch Street | Houston, Texas 77004 | Phone: (832) 975-7300 | Fax: (832) 975-7301 | Email: [email protected]
DISCLAIMER AND LEGAL NOTICE
We are a debt relief agency. We help people file for relief under the Bankruptcy Code.
2502 La Branch Street | Houston, Texas 77004 | Phone: (832) 975-7300 | Fax: (832) 975-7301 | Email: [email protected]
DISCLAIMER AND LEGAL NOTICE
We are a debt relief agency. We help people file for relief under the Bankruptcy Code.