The Impact of Chapter 7 and Chapter 13 on Your Property Rights You’re struggling to meet your financial obligations because you’ve been laid off, you’re going through a divorce, or you’ve incurred substantial medical expenses not covered by insurance. You know filing for bankruptcy can help you get a fresh start, but the last thing you want or … [Read more...]
How Chapter 13 Works When You’re Behind on Car Payments
April 22, 2020 by Leave a Comment
Restructuring an Automobile Loan in Bankruptcy When you're facing financial challenges and struggling to pay your bills, that often means you're behind in making your car payments. But having reliable transportation is important when you're trying to turn things around—you need to get to and from a job. A Chapter 13 bankruptcy filing can help … [Read more...]
Can You Address Mortgage or Property Tax Arrearages in a Bankruptcy Filing?
December 26, 2019 by Leave a Comment
Restructuring Mortgage and Property Tax Debt in Chapter 13 Though medical expenses are cited as the most common cause of personal bankruptcy filings, it's common for individuals seeking protection in Chapter 7 or 13 to be behind in mortgage payments or property tax obligations. As a general rule, Chapter 7 won't allow you to permanently discharge … [Read more...]
It’s a Bad Idea to Handle Your Own Bankruptcy
December 5, 2019 by Leave a Comment
Good Reasons Not to Represent Yourself in a Bankruptcy Proceeding It's understandable—you're struggling to make ends meet and have concluded that filing for bankruptcy is your best option. You really don't have the money for anything but the essentials, and you certainly don't want to spend the money for a lawyer. You may think, "Hey, my … [Read more...]
The Texas Bankruptcy Exemptions
October 25, 2019 by Leave a Comment
Protecting Property from Attachment in a Chapter 7 Filing When you seek protection under the bankruptcy laws, you can choose to permanently discharge debts under Chapter 7 or to reorganize your debt under Chapter 13. With a Chapter 7 filing, you must turn over certain assets to the bankruptcy court to be sold to pay your creditors. But that … [Read more...]
How Soon Can You Re-File for Bankruptcy in Texas?
October 18, 2019 by Leave a Comment
The Waiting Period for Chapter 7 and Chapter 13 You can go through a bankruptcy proceeding with the best of intentions, pay close attention to your finances and still have difficulty meeting your obligations. Often, it's a health problem that brings you to consider filing for bankruptcy. That's no surprise and no cause for shame—it's the single … [Read more...]
Using Chapter 13 When You Are Facing Foreclosure
September 28, 2019 by Leave a Comment
Keeping Your Home and Restructuring Mortgage Debt If you've fallen behind in your house payment, to the extent that you've either been threatened with foreclosure, or are involved in foreclosure proceedings, a petition under Chapter 13 of the bankruptcy laws can help you get your mortgage back on track and keep your home. Initially, you'll have … [Read more...]
Can Chapter 13 Help You Restructure Income Tax Debts?
September 18, 2019 by Leave a Comment
Using the Bankruptcy Laws to Address Personal Tax Liabilities If you have fallen behind on your taxes, you may be under the impression that you cannot use the bankruptcy laws to help you get a handle on that debt. While it's generally true that most income tax arrearages cannot be discharged in a Chapter 7 liquidation proceeding, you may still be … [Read more...]
Bankruptcy or Divorce—Which is the Chicken and Which the Egg?
August 24, 2019 by Leave a Comment
Which Should You Do First—File for Bankruptcy or Finalize Your Divorce? Far too often, the underlying cause of divorce is financial difficulty. Even if financial problems are not the cause of divorce, they can arise when you no longer have two incomes to pay for your lifestyle. If you are considering filing for divorce, or if you know that your … [Read more...]
Your Bankruptcy Options When You Owe Money to an Ex-Spouse
May 24, 2019 by Leave a Comment
Should You Choose Chapter 7 or Chapter 13? Are you struggling to meet your financial obligations? Do your debts include family law obligations, such as child support or alimony arrearages? Have you considered be discharging or restructuring those debts could in a Chapter 7 or Chapter 13 proceeding? Domestic Support Obligations Are Not … [Read more...]
