At the Law Office of Nima Taherian, we provide individuals and businesses in the Greater Houston area with comprehensive bankruptcy services. The United States federally regulates bankruptcy law through 94 federal judicial districts located throughout the country. When we speak of Houston bankruptcy law, we are referring to the federal laws governing filing and bankruptcy proceedings handled by the Southern District of Texas Court located, which is located in Houston.
We have the bankruptcy expertise needed to provide you with all viable options and experienced legal guidance throughout the entire process. Because every situation is unique, we are here to advise you on the advantages and disadvantages of each of your options.
Filing bankruptcy in Houston
Choosing the appropriate filing is the first step toward restoring financial stability under bankruptcy laws in Houston. Types of bankruptcy include the following:
Chapter 7 Bankruptcy
Under Chapter 7 bankruptcy, you may be able to discharge debts and gain a fresh start. When an individual or business files Chapter 7, the court typically appoints a trustee to gather and sell your nonexempt assets, using the proceeds to pay creditors. While some property may be subject to liens or mortgages, you are often able to retain certain exempt property, such as a primary residence. In fact, many individuals do not have non-exempt assets for the trustee to take. Chapter 7 bankruptcies are most appropriate for individuals and businesses facing significant debts, especially when these debts are unsecured. More about Chapter 7>>
Chapter 13 Bankruptcy
Individuals can file for bankruptcy under Chapter 13 to secure a repayment plan based on current income, when that income is steady and current repayment has become difficult. Chapter 13 bankruptcies are most appropriate for individuals whose debts are non-dischargeable under Chapter 7. In a Chapter 13, individuals develop a repayment plan, or wage earner’s plan, to repay debts within three to five years. This plan allows you to avoid liquidation of your assets and get caught up on important loans, such as house and car payments. More about Chapter 13>>
Chapter 11 Bankruptcy
When businesses or individuals need to reorganize finances, Chapter 11 bankruptcy is often the best option. Chapter 11reorganization is available if debts exceed $336,900 in unsecured debts or $1,010,650 in secured debts.
Frequently Asked Questions
Our frequently asked questions page answers questions about bankruptcy law in Houston. However, these questions and answers do not take the place of legal advice and guidance from an experienced bankruptcy attorney.
We help clients make informed decisions that resolve their financial troubles by explaining their options under bankruptcy laws and representing them in appeals.
Seek Experienced Bankruptcy Counsel
We can help make your bankruptcy filing as stress-free and cost-effective as possible, and provide you with a fresh financial start. Contact the Law Office of Nima Taherian today for a free consultation with an experienced bankruptcy attorney.