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The Effect of Hurricane Ike on Texas Homeowners and filing Bankruptcy

With the arrival of Hurricane Ike and its deadly aftermath, many Texas homeowners are not only left homeless, but are also left without insurance coverage on their primary residence or home and their beach and vacation homes. Others are left owing more than their house is worth, as some homeowners in Galveston and Houston will inevitably face foreclosure due to Ike’s destruction and the lack of appropriate insurance coverage. Filing Chapter 13 Bankruptcy in Galveston or Houston may give homeowners a chance to get out from underneath a residence that has seen a sudden drop in value. A Chapter 13 Bankruptcy could also allow a couple to reorganize their debt in response to dealing with the aftermath of Hurricane Ike. If you need more legal information on whether a Chapter 13 Bankruptcy filing is right for you, attorneys are waiting to answer your questions. You can call us to set up a free consultation at 1 (866) 705-7584. Fears | Nachawati Law Firm.