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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. Contact a Houston Bankruptcy Attorney to help you start afresh.

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: 

  1. 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.

  2. 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.

  3. 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.

Here are some of the primary areas where we can assist with your bankruptcy

1. Chapter 7 Bankruptcy (Liquidation)

Eligibility Assessment: Determining if an individual or business qualifies for Chapter 7 bankruptcy based on the means test.
Asset Exemptions: Identifying which assets are exempt from liquidation under state and federal laws.
Trustee Interactions: Managing interactions with the bankruptcy trustee assigned to the case.

2. Automatic Stay

Enforcement: Ensuring the automatic stay is enforced, which halts all collection activities, foreclosures, and lawsuits against the debtor.
Relief from Stay: Addressing motions by creditors seeking relief from the automatic stay to proceed with collections.

3. Dischargeability of Debts

Non-Dischargeable Debts: Identifying debts that cannot be discharged, such as certain taxes, student loans, and child support.
Adversary Proceedings: Handling lawsuits within the bankruptcy case to determine the dischargeability of specific debts.

4. Asset Protection

Exemption Planning: Strategically planning to maximize asset protection using state and federal exemptions.
Pre-Bankruptcy Planning: Advising on lawful pre-bankruptcy asset transfers and transactions to avoid fraudulent conveyance claims.

5. Creditor Rights and Claims

Claim Filing: Assisting creditors in filing claims to participate in the bankruptcy proceedings.
Objections to Claims: Contesting the validity or amount of claims filed by creditors.

6. Fraud and Abuse Allegations

Defense Against Allegations: Defending clients against accusations of bankruptcy fraud or abuse.
Section 727 Objections: Addressing objections to discharge under Section 727 for alleged misconduct.

7. Bankruptcy Litigation

Adversary Proceedings: Representing clients in adversary proceedings, which are lawsuits within the bankruptcy case.
Preference Actions: Defending or pursuing actions to recover preferential payments made before the bankruptcy filing.

8. Business-Specific Issues

Executory Contracts and Leases: Handling the assumption or rejection of executory contracts and leases in bankruptcy.
Asset Sales: Managing the sale of assets free and clear of liens and interests under Section 363 of the Bankruptcy Code. If you are a business owner, there are some concerns you must consider in the bankruptcy process. Consider speaking with an expert bankruptcy attorney to guide you.

Bankruptcy law is complex and varies significantly depending on each case’s jurisdiction and specifics. An experienced bankruptcy lawyer provides essential guidance and representation, ensuring that clients navigate the process effectively and protect their interests.

 

Established In 2017, ‘Your Lawyer, Your Shield’ Strives To Get Justice For Our Clients. We Believe In A Good And Honest Fight, And We Will Not Stop At Anything.

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