Bankruptcy Laws in Houston

If you are considering filing bankruptcy, it is important you have a lawyer who understands U.S. bankruptcy law in Houston courts. Bankruptcy is governed by federal law, but your case proceeds through a local bankruptcy court. Russell Van Beustring is Board Certified in Consumer Bankruptcy Law by the Texas Board of Legal Specialization, a frequent speaker for the American and Houston Bar Associations, and he appears on local NBC, ABC, CBS, and Fox affiliates to discuss credit reporting and personal finance issues.

By choosing the Law Office of Russell Van Beustring, P.C., you can be confident you have an experienced attorney on your side who knows bankruptcy laws in Houston inside and out.

Bankruptcy law firm in Houston

The three most common types of bankruptcy are Chapter 7, Chapter 11, and Chapter 13. In Houston, bankruptcy laws should be considered before deciding which chapter to file:

• Chapter 7: The most common type of bankruptcy filed by individuals. In Houston, bankruptcy law states you must take a means test  to determine if you are eligible. The test is designed to measure if your income is low enough to file. However, even if you earn a substantial monthly income you may still qualify if you have large expenses, such as a high mortgage rate. Russell Van Beustring can help you determine your eligibility.
• Chapter 11: Also called a B2B bankruptcy in Houston, this type is an option for businesses and individuals, although it is almost always used by businesses in order to reorganize their debt and proceed with operations. The main reason individuals would file for Chapter 11 is because they have too much income and assets or they have debts that fall outside of the limits for filing a Chapter 13 bankruptcy.
• Chapter 13: If you do not qualify for Chapter 7 because of your income, a Chapter 13 bankruptcy is likely your best option. This plan enables individuals with some sort of regular income to make a payment plan and begin making installments on their debts over the period of three to five years.

Because of the complexity of federal and Houston bankruptcy law, when filing a business or personal bankruptcy it is important to have an experienced and knowledgeable Houston bankruptcy lawyer on your side.

Contact us

To find out how we can help you or your business file for bankruptcy while retaining as much property and assets as possible, contact the Law Office of Russell Van Beustring, P.C. today for a free consultation.