Alva Wesley-Thomas & Associates, P.C., is a valuable resource for Texans looking for reliable information about debt relief. We offer dedicated legal counsel and representation when debt has become overwhelming. Bankruptcy can provide a much-needed financial “fresh start” in a time of debt crisis.

Baytown Chapter 7 Bankruptcy Lawyer · Chapter 13 Bankruptcy Attorney 

Alva Wesley-Thomas & Associates P.C. has helped hundreds of clients in Baytown, TX and the surrounding areas who are struggling with debt for over 35 years.  If you can no longer make monthly payments to your creditors or mortgage lender, filing a Chapter 7 or a Chapter 13 bankruptcy in Baytown may be the best option for starting over financially.  If you’re to the point where you’re emotionally overwrought by all the harassing creditor letters and phone calls, it may be time to take legal action against them.

Bankruptcy Can Help with Foreclosures

Fortunately, most lenders won’t start foreclosure proceedings until you’re behind 3 or 4 payments.  In many instances, hiring Alva Wesley-Thomas & Associates P.C. for filing Chapter 7 or chapter 13 can help individuals who are facing foreclosure.  You can delay the foreclosure process for several months by filing Chapter 7 bankruptcy.  However, if you don’t want to lose your home, we suggest you file Chapter 13.  So, the question that often arises is “Which Chapter should I file for?”

Once you’ve decided to file bankruptcy and speak with a debt relief lawyer or a foreclosure defense attorney in Baytown, you’ll need to determine which one will benefit you the most financially.  Here are the highlights of each:

• The Basics – with a Chapter 7, most of your unsecured debt is discharged whereas you repay some creditors in full and others in part over 3 to 5 years with a Chapter 13 repayment plan.

• Eligibility – if your income is less than the median or state average or you can pass the means test, you can file Chapter 7. There is no income eligibility requirement or “means test” for Chapter 13 bankruptcies.  However, there may limits on secured and unsecured debt.

• Foreclosures – although you can temporarily stop a foreclosure by filing Chapter 7, the foreclosure process will continue unless you are able to catch up on your mortgage payments. Chapter 13 will stop a foreclosure and enable you to repay any past due mortgage payments with a repayment plan.

• Income – if you’re income is too high; you won’t be eligible to file Chapter 7. On the other hand, you’ll need your regular monthly income when you file Chapter 13.

• Property – in most cases, you’ll be able to keep your property under a Chapter 7 unless you have significant assets and equity that isn’t exempted under Texas law. With a Chapter 13, you can stop foreclosure proceedings and repay all mortgage payments that are past due.

• Time frame – Chapter 7 bankruptcies are usually completed within 3 to 4 months. Depending on your monthly income, a Chapter 13 repayment plan takes 3 to 5 years in order to discharge most of your unsecured debt.

Don’t continue suffering the emotional stress that results every time a creditor calls to harass you. As trusted Baytown bankruptcy lawyers, we understand the situation that you maybe in and that is why we ask you to seek help. Bad times don’t last but getting the right legal help can help you put your life back on track.

If you would like to discuss your current financial circumstances with an experienced Baytown bankruptcy attorney, call us today at 713-278-0800 for a FREE Consultation.

We service the following zip codes in Baytown, TX and all surrounding areas: 77520, 77521, 77522.