Bankruptcy - Abii & Associates, PLLC

Bankruptcy

If you are currently drowning in debt and unsure how to proceed, retaining immediate representation of our bankruptcy attorneys in Houston Texas would be advisable. Bankruptcy law in the United States is a federal legal framework that provides relief and protection to individuals and businesses who are unable to repay their debts. It offers a means to reorganize or discharge debts and obtain a fresh financial start.

Types of Bankruptcy Filings

There are various types of bankruptcy filings available to you. It is important you understand which of them is most appropriate for your specific circumstances. The most common ones for individuals and businesses are:

Chapter 7 bankruptcy, a court-appointed trustee liquidates the debtors non-exempt assets to repay creditors. These include most unsecured debts, such as credit card debts and medical bills. However, certain debts, such as student loans and tax debts, generally cannot be discharged.
Chapter 13 Bankruptcy: Chapter 13 bankruptcy is a reorganization bankruptcy available to individuals with regular income. It allows debtors to develop a plan to repay all or a portion of their debts over a period of three to five years. Chapter 13 is often suitable for individuals who want to keep their assets, such as a home, and catch up on missed mortgage or car payments.
Chapter 11 Bankruptcy: Chapter 11 bankruptcy primarily applies to businesses, but it can also be used by individuals with substantial debts. It allows debtors to reorganize their financial affairs and develop a plan to repay creditors while continuing their operations. Chapter 11 bankruptcy is typically more complex and expensive than Chapter 7 or Chapter 13, and it is often utilized by large corporations.

How Can We Help

At Abii Legal, we understand how stressful and emotionally draining bankruptcy filings can be. We want to reassure you that you are not alone and we will support you through it. We offer personalized guidance and support throughout the bankruptcy process, ensuring that you understand your rights, options, and the potential outcomes at every stage.

Although bankruptcy law in the US is federal, local bankruptcy courts may have specific forms or local filing requirements that need to be followed, and they may have their own administrative procedures for handling cases. As Houston based bankruptcy attorneys we are familiar with the local court proceedings and will guide you through the requirements.

We are committed to helping individuals and businesses across the Greater Houston area and the state of Texas find effective solutions to their financial challenges through bankruptcy. Contact our Houston office today to schedule a consultation and take the first step towards a brighter financial future.

          
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 2021-12-14
 
 
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 2021-11-09
 
 
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 2021-10-07
 
 
  
  
 
       
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 2021-10-07
 
 
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 2021-06-18
 
 
  
  
 
       
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 2021-06-12
 
 
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 2021-06-11
 
 
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 2021-04-16
 
 
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