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.

Houston Chapter 7 Bankruptcy Lawyer · Chapter 13 Bankruptcy Attorney 

At Alva Wesley-Thomas & Associates P.C., we provide hope for residents who need to file Chapter 7 or Chapter 13 bankruptcy in Houston TX as well as homeowners who’ve received a notice of foreclosure.  In either case, as Houston debt lawyers, we have the legal experience and resources to proceed in such matters.  Since establishing our practice, we’ve helped businesses and families resolve debt problems by filing Chapter 7 and Chapter 13 bankruptcy or stopping foreclosure. Each client has a different requirement and we understand that. Trying to do it all on your own can be frustrating and that is why we are right here to help you.

How does a Chapter 7 Bankruptcy differ from a Chapter 13 Bankruptcy?

In the simplest of terms, a Chapter 7 bankruptcy is often referred to as a “liquidation” or a “straight” bankruptcy.  On the other hand, a Chapter 13 bankruptcy is known as a “debt reorganization” bankruptcy.  In either case, a Houston bankruptcy attorney from Alva Wesley-Thomas & Associates P.C. can help with either type.  Here is a more detailed explanation of both types:

• Chapter 7 – in this type of bankruptcy, most unsecured debt is wiped out without having to pay off any balances still owing. This usually involves credit card debt, medical bills, and other similar types of debt.  Although the term “liquidation” means that the person’s assets are sold off in order to pay off their creditors, most people will not have any assets to sell off once exemptions have been taken into account.

• Chapter 13 – this type of bankruptcy was designed for those individuals who enough leftover monthly income to pay off a percentage of their debt with a repayment plan. With a Chapter 13 bankruptcy, you’ll be able to pay off your creditors in 3 to 5 years.  In most cases, a person will file this type of bankruptcy when they earn too much money to file a Chapter 7.

Furthermore, with a Chapter 13, a person may be able to pay off past due payments on their home mortgage and receive an “automatic stay” which can halt a foreclosure.  In addition to this, a person will also be able to pay off a percentage of their other debts.

How can our foreclosure defense team in Houston save your home?

There are 2 types of foreclosures – “judicial” and “non-judicial.”  In a judicial foreclosure, the lender or lien holder takes possession of your property by taking legal action and filing a lawsuit.  In a non-judicial foreclosure, the homeowner has defaulted on their loan and the lender files a “public notice of foreclosure.”  Furthermore, with a non-judicial foreclosure, the process can be completed within 30 days of a missed payment.  Can the homeowner stop a foreclosure on their property? Absolutely!

The Alva Wesley-Thomas & Associates P.C. foreclosure attorney team in Houston can help stop a lender from taking your home by filing Chapter 13 bankruptcy.  This gives the homeowner 3 to 5 years to repay all delinquent payments on their mortgage.  During this period of time, the lender cannot initiate any further collection activity, including a foreclosure.  At this difficult time in your life, having a good lawyer in your corner assisting you with bankruptcy or stopping foreclosure processes becomes vital.

For more information about how our law firm can help with bankruptcy or foreclosure, contact the Houston Bankruptcy Lawyer at Alva Wesley-Thomas & Associates P.C. today at 713-278-0800 .

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