Houston Chapter 13 Bankruptcy

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is known as a reorganization bankruptcy because a debtor pays off their debts but the debts have been reorganized to a lower rate and to have a longer period of time to pay off the debts.

If your debts are growing because of a high interest rate, the interest rate can be lowered when the debts are reorganized in a Houston chapter 13 bankruptcy.

Chapter 13 is for debtors who would like to pay off their debts over a longer period of time, usually 3 to 5 years.

This is an attractive chapter of the bankruptcy code if you have (non-exempt) assets you would like to keep.

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