Chapter 13 Bankruptcy Attorneys Serving Fort Worth, TX

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If you have a steady income and a substantial amount of debt that you cannot hope to pay back, Chapter 13 bankruptcy may be a good way to get out of debt and back on your feet. At Ted Machi & Associates, P.C., our experienced Fort Worth Chapter 13 bankruptcy lawyers can help you understand your options and walk you through the process step by step. You can count on us to protect your future and set you on the course to financial recovery! Call today to set up a consultation.

Fort Worth Chapter 13 Bankruptcy Attorneys

How Does Chapter 13 Bankruptcy Work?

Chapter 13 bankruptcy, sometimes referred to as reorganization bankruptcy or a wage earner’s plan, is a legal way for people with high levels of debt to pay off part of their debts and arrange a court-supervised payment plan to repay the remaining balance. Debts will be restructured in accordance with the Chapter 13 process, and any debts that cannot be discharged (erased) will be put on a court-supervised payment plan, which cannot be longer than five years. Whether your plan is three or five years (or somewhere in between) will depend on your income and how it compares to the relevant state median. Our Fort Worth Chapter 13 bankruptcy attorneys can tell you what to expect from a Chapter 13 filing and if it is the best option for you.

Can A Chapter 13 Bankruptcy Help You?

Declaring bankruptcy does not imply failure or indefinite financial hardship. It is simply a term used informally. The idea of filing for bankruptcy scares a lot of people, but you might be surprised to learn that filing for Chapter 13 has many advantages!

For starters, all creditor collection efforts, actions, and aggressions are stopped by Chapter 13 bankruptcy. Your phone will stop ringing, and you’ll stop receiving mail. Your creditors must stop harassing you for the money you owe, which can be a huge relief after months or years of them intimidating you. If foreclosure proceedings have begun or are about to begin, they must be halted – Chapter 13 can literally save your home (and your car, if repossession is imminent or has already occurred).

Because secured debts can be extended over the life of the plan, payments will be reduced and more affordable. In comparison to Chapter 7 bankruptcy, Chapter 13 filing fees are lower, and bankruptcy stays on your credit for 7 years rather than 10 years.

One of the myths about bankruptcy is that it will ruin your credit. However, because Chapter 13 reduces your debt-to-income ratio, it may actually start improving your credit score right away. In the long run, it allows you to start developing healthier financial habits and better credit.

Our Fort Worth Chapter 13 Bankruptcy Attorneys Can Help You

Bankruptcy is, first and foremost, a legal process that entails a great deal of complicated paperwork, court communications, creditor communications, and other legalities. Because of this, it is critical that you seek the aid of local bankruptcy attorneys, who can guide you through the process with accuracy and provide an explanation of your rights and options. At Ted Machi & Associates, P.C. we will take the time to answer your questions and ask all the necessary questions to tailor our advice to your personal financial goals. We can meet with your creditors and go to court for you.

Our lead attorney, Ted Machi, is a board certified consumer bankruptcy specialist – an expert in this field – as well as a member of the National Association of Consumer Bankruptcy Attorneys. His extensive experience and knowledge in the field of bankruptcy law can provide you with invaluable support and peace of mind. Our small law firm is able to give you one-on-one attorney attention and high-touch customer service that larger law firms simply can’t. If you need bankruptcy help, we’re confident that we are the best choice for you!

Call Today To Schedule Your Free Consultation

Take immediate action to restart your life. For more information on what to do next, call our Fort Worth Chapter 13 bankruptcy lawyers! You can ask us questions and get to know us better during our free, no-obligation consultations. Schedule yours today!

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Fort Worth, TX Practice Areas

The team at Ted Machi & Associates help me through a difficult situation and was very responsive to insure a successful outcome. My attorney was very thorough in explaining and helping me make the right decision. If you need expert advice and a company with years of experience, I would consult with the team at Ted Machi and Associates. My outcome was favorable.

Debra S.

Dan Wright, embodied the persona of what an attorney should be. He restored our faith in the legal system with his professionalism and knowledge. We wouldn’t hesitate to recommend Machi & Associates to anyone needing assistance.

Roderick J.

*Ted Machi is a Certified Member of Who’s Who Top Attorneys of North America for 2023
Ted Machi & Associates, P.C.

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