Meet Attorney Christopher Phillippe
During his career as a delinquent tax collection attorney, Christopher Phillippe found himself at a fork in the road. Would he continue foreclosing on people’s houses, no matter how uncomfortable it made him feel, or would he leave his career behind to start a firm that would save their houses?
Mr. Phillippe knew what he had to do, and after making his decision, he hasn’t turned back. He felt much more at ease helping people who are in dire straits financially to see what options they have rather than losing everything, and that’s what pushed him to go into bankruptcy law.
Chapter 7, Chapter 11, and Chapter 13 Explained
Chapter 7
Under Chapter 7, also referred to as asset liquidation, non-exempt personal assets are liquidated to pay creditors a portion of what you owe. Most assets (e.g. home equity, vehicles, furnishings, and retirement funds) are exempt under Texas statutes, so most people will not lose any personal property. While Chapter 7 can be filed when businesses are overwhelmed in debt, it is usually only beneficial for small businesses and sole proprietors to use.
Chapter 11
Chapter 11 bankruptcy filings are for large businesses and corporations that wish to remain in operation but need creditor relief. They are also suitable for high net worth individuals. This type of bankruptcy can be very complex and involved, so it’s imperative to work with an expert bankruptcy attorney. In most cases, you may be able to keep your business so long as you repay your creditors as a debtor in possession or appoint a bankruptcy trustee to run your company for you.
Chapter 13
Chapter 13 bankruptcy is usually a good option for individuals or sole proprietors who have significant assets and a steady source of income. In Chapter 13, a payment plan is established to repay creditors over time without additional penalties and interest. Chapter 13 bankruptcy also allows you to keep your home if you’re in danger of foreclosure. In fact, once a petition is filed with the courts, all collection actions must stop. This lets you make the necessary arrangements without fear of harassment from lenders.
Bankruptcy is Enshrined in Our Constitution to Provide Citizens Relief From Circumstances Beyond Their Control
One of bankruptcy’s biggest pitfalls that greatly affects people is their credit report. Usually, it reflects that you filed bankruptcy for 10 years, but the good news is, banks only look back seven years to make loans, and a debtor can immediately start rebuilding credit after filing.
For example in Chapter 7, a debtor can have basic credit established in two or three years. In Chapter 13, which is normally a 5-year plan, the trustee will reestablish a credit score in the 600’s after successful completion.
At Law Offices of Philippe and Associates, we help our clients see bankruptcy not as a failure, but as a tool that is available when people find themselves in financial situations where they have little or no control over.
Let the Law Offices of Philippe and Associates help you get back on your feet today.
Practice Areas
Bankruptcy
Attorney Chris Phillippe has been practicing in Bankruptcy Court since the early 1990s. He has handled close to 5,000 bankruptcy filings for our clients. These include cases of:
► Chapter 7
► Chapter 11
► Chapter 13
Family Law
During the past 35 years Attorney Chris Phillippe has handled more than 2,500 Family Law cases and addressed:
► Divorce
► Child Support
► Adoptions
► Child Custody Disputes
Probate
I have extensive experience handling Will Disputes, Estate Planning (both simple and extensive), Elder Law, Heirship and Guardianship, as well as a broad scope of other legal Probate issues.
Criminal Law
Served as a State Prosecutor for nearly four years. He had many successful trials in that role. In addition, he served as City Attorney and Prosecutor for the City of Montgomery, Texas.
Since that time he has represented clients accused of:
► DWI/DUI
► Sex Offenses
► Capital Murder
► Theft
► Other criminal charges
Personal Injury
From small fender-bender auto accidents to catastrophic accidents resulting in multiple deaths—the Law Offices Of Phillippe & Associates has represented many Personal Injury clients.
Other Practice Areas
In addition to the practice areas described above, the Law Offices Of Phillippe & Associates has decades of experience addressing:
► Real Estate Transactions
► IRS Disputes
► Breach of Contract
► Commercial Disputes
► Construction Cases
Dedicated to Resolving Your Legal Issues
Please call us for the legal assistance you need.