Houston Attorney Handling Bankruptcy

The Bankruptcy Process in Houston

Most individuals trying to handle their finances have questions about the bankruptcy process.  Is it the right thing for you?  In order to find out, you need the advice of a knowledgeable and skilled bankruptcy attorney from the Malaise Law Firm.  Our caring lawyers will take the time to fully explain the process to you in terms you can fully understand.  This will enable you to make a sound decision on what your next action should be.  Below we have outlined the basic process when it comes to filing either a Chapter 7 or Chapter 13 bankruptcy.

Prior to any filing, you must participate in a mandatory credit counseling course.  Once that is done, when filing for bankruptcy, our office will need all of your income and expense information, including all of your debtors, in order to properly fill out the Petition, any Schedules, and you Statement of Financial Affairs.  All assets and liabilities must also be noted.  As Chapter 13 involves restructuring your debt and paying it back within 3-5 years, a "Plan" must be also be filed with the Court in addition to the other documents.  This Plan outlines how you plan to pay your creditors in the restructuring of your debt.  This Plan can be carefully worked out with the help of your attorney.  Once the filing is complete, your creditors will no longer be able to contact your further regarding collection.

Your case will be assigned a trustee, whose purpose is to review your case and make sure that you are in compliance with relevant sections of the Bankruptcy Code.  In a Chapter 7 bankruptcy case, the trustee will review your assets and if warranted, can confiscate non-exempt assets for liquidation.  In Chapter 13 cases, you will make your monthly plan payment directly to the trustee.  You will also need to provide the trustee with financial documents as requested by him/her.

If you have filed a Chapter 13 case, you will have a Chapter 13 plan payment that must be paid monthly.  The first plan payment is due 30 days from the date your case was filed.

Approximately 30 days after your case is filed you will be required to go to the Bankruptcy Court to attend the Meeting of Creditors.  It is rare for any creditors to appear, although it can occur.  The trustee will place you under oath and ask questions about your bankruptcy filing and the documents you provide in response to the trustee's letter.  Our firm will attend this meeting with you. 

The goal of the bankruptcy case is to obtain a discharge.  Upon discharge, you are no longer liable for the debts that are listed in your bankruptcy schedules.  Prior to receiving your discharge you must complete a Financial Management course.  Our office will advise you on how and where to take this course.

In Chapter 7 bankruptcy cases, you should receive your discharge approximately 90 days after your Meeting of the Creditors.  In Chapter 13 cases, you will not receive your discharge until after you successfully make all payments provided for in your Chapter 13 Plan.  This occurs after the plan is complete.  Most plans take 3 to 5 years to complete.

Directing You Through the Bankruptcy Process

When you need assistance with the bankruptcy process, the Malaise Law Firm is who you want working for you.  Our dedicated and caring attorneys have over 40 years of combined experience in bankruptcy law, with seven of our attorneys dedicated solely to that practice.  Our highly trained staff number 50 throughout the state of Texas, providing you with the resources you need to get you through this difficult time in your life.  Our office strives to provide you with sound financial advice and a quick resolution to your debt problems so as to get you back on firm financial footing.   

Find out how the bankruptcy process works, contact the Malaise Law Firm , bankruptcy lawyers, for information on filing.