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What You Need to Know About Chapter 13 Bankruptcy in Tyler TX

Filing Chapter 13 bankruptcy near Tyler TX is something that you want to have a personal bankruptcy attorney do for you. William H. Lively Law Firm specializes in filing bankruptcy near Tyler TX, close to Jacksonville TX, and in Kilgore TX and Longview TX as well. We provide you with the personalized bankruptcy services that help you to get a new start financially.


What is Chapter 13?


Chapter 13 is a bankruptcy plan that allows consumers to reorganize their debt and make it more affordable. It is often referred to as a “wage earner” plan because the “plan” lays out your debts and how much you will be able to pay toward those debts every month. As soon as your Chapter 13 paperwork is filed with the court an “automatic stay” goes into effect that will:


  • Stop foreclosure

  • Stop repossession

  • Stop court action to levy judgements against you

  • Stop wage garnishment by debtors (including the IRS)


This plan can also:

  • Reduce interest rates on some loans

  • Forgive some of your unsecured debt (credit cards)


If you abide by the plan that automatic stay will stay in effect.


The Trustee

Your bankruptcy case will be managed by a “trustee” which is an officer of the court. The trustee will collect your payments every month and make sure that they are distributed. The trustee is a third party that is assigned by the bankruptcy court to handle your plan.


The Length of Time

The length of time that your Chapter 13 is in effect largely depends on the amount of debt that you are in and how much you can afford to pay every month towards that debt. The best way to get your bankruptcy questions answered is to make an appointment and come and speak with us. Contact us today!

Filing for Chapter 13 Bankruptcy Chapter 13 Bankruptcy Law