The process of filing for Chapter 13 bankruptcy starts with going to bankruptcy court and filing a two page form that requests financial relief under Chapter 13. This petition needs to be signed by all debtors involved in the case. Filing your Chapter 13 petition will place an automatic stay on your debts. This means that once your petition is in, your creditors cannot demand money from you or take you to court in order to try and collect your debts. Foreclosure processes on your home or repossession of any property must also be stayed.

After your petition is submitted, you'll need to submit a Matrix. This is simply a list of all of your creditors with their names and addresses. Shortly after that, you'll need to submit a plan that outlines your proposal for reorganizing your debts. Your plan should include your monthly income, any liabilities you have, any financial assets that you have, your typical monthly expenses, your financial history, and proof that you are able to fulfill your financial obligations according to your own plan. If necessary, you can amend this plan later on in the bankruptcy process, though amendments often require additional fees.

Once a bankruptcy petition and repayment plan has been approved, you'll have three to five years to repay your debt. Should you have questions about filing for Chapter 13 in Texas, contact the Malaise Law Firm to have your concerns addressed by a knowledgeable Houston bankruptcy lawyer.