EDUCATION
B.B.A., Stephen F. Austin University, Nacogdoches, Texas 1973

J.D., South Texas School of Law, Houston, Texas 1994

Houston Police Academy, Houston, Texas 1976

• Honor Graduate
• Class President

PROFESIONAL ACTIVITIES
1976 - Present Houston Police Officer
1994 - Present Private Practice

RELATED AFFILIATIONS
Houston Debtors Attorneys Association, Houston Bar Association, Friendswood Chamber of Commerce, Houston Police Association

Aren't there different kinds of bankruptcy?
Yes. Bankruptcies can generally be described as "liquidation" or "reorganization." There are several types of bankruptcy proceedings. Attorney Michael Sharp will evaluate your particular case and recommend the best option for you.

What is a Chapter 7?
Chapter 7 is the most common form of liquidation bankruptcy. It is a "fresh start" proceeding in which a consumer or business asks the bankruptcy court to wipe out (discharge) the debts owed. Certain debts cannot be discharged. In exchange for the discharge of debts, the business's assets or the consumer's nonexempt property is sold (or "liquidated"), and the proceeds are used to pay off creditors. Chapter 7 is available to individuals, married couples, corporations and partnerships. Individual debtors typically receive their discharge within 4-6 months of filing the case. Any wages the debtor earns after the case is begun are the debtor's, beyond the reach of creditors who had claims on the date of filing.

What is a Chapter 11?
Chapter 11 is a reorganization proceeding, typically for corporations or partnerships. Individuals, especially those whose debts exceed the limits of Chapter 13, may file Chapter 11. In Chapter 11, the debtor usually remains in possession of his assets and continues to operate any business. The debtor proposes a plan of reorganization which, upon acceptance by a majority of the creditors, is confirmed by the court and binds both the debtor and the creditors to its terms of repayment. Plans can call for repayment out of future profits, sales of some or all of the assets, or a merger or recapitalization.

What is a Chapter 12?
Chapter 12 is a simplified reorganization for family farmers, modeled after Chapter 13, where the debtor retains his property and pays creditors out of future income.

What is a Chapter 13?
Chapter 13 is a repayment plan for individuals with regular income, unsecured debt less than $269,250, and secured debt less than $807,750. The debtor keeps his or her property and makes regular payments to the Chapter 13 trustee out of future income to pay creditors over the life of the plan (3-5 years). Some debts must be repaid in full; others you pay only a percentage; others aren't paid at all. Some debts you have to pay with interest; some are paid at the beginning of your plan and some at the end. The level of repayment depends on the debtor's income and the composition of the debt. Certain debts that cannot be discharged in Chapter 7 can be discharged in Chapter 13. Chapter 13 also provides a mechanism for individuals to prevent foreclosures and repossessions, while catching up on their secured debts.