It is not always easy to help individuals navigate through something as difficult and catastrophic as bankruptcy but Houston bankruptcy attorneys manage to do it diligently. The passion and dedication of Houston bankruptcy attorneys to their craft is obvious and appreciated by members of the southern community. Houston bankruptcy attorneys have graduated from a number of fine educational institutions like the Thurgood Marshall School of Law, the University of Houston Law Center and South Texas College of Law.
Founded in 1836, Houston has a population of well over two million people and is easily the largest city in the Southern state. Its notable size also earns it the title of being the fourth largest city in the entire country. Houston boasts many revenue generating expenditures like professional sports teams in major sports like baseball, basketball and football.
Last year, Houston experienced moderately low unemployment rates. It is an economically thriving city with lots of opportunity for skilled workers. However, bankruptcy still hits places like Houston for a variety of different reasons. These can be circumstances or events that lead one to file for bankruptcy but do not necessarily have anything to do with the economy of that physical location. This can be things like divorce, death, or ones' basic inability to effectively manage their debt. It may not always be a situation where one is unemployed and cannot generate the funds to pay their bills. This definitely affects which chapter they will file for. Records indicate that the majority of filers in Texas go with a chapter 13 filing rather than a chapter 7. Chapter 13 allows for flexible repayment plans over a period of three to five years as well as asset protection. This is indicative of a temporary setback that momentarily interferes with one's ability to pay their bills. With a little bit of help, they are able to resume repaying their debt. This is in stark contrast to most chapter 7 filers who simply cannot repay their debt even with time and flexible terms.
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