Will You Have to Relinquish a Tax Refund to Get the Protection of the Bankruptcy Laws? You're struggling to meet your financial obligations, whether due to the loss of a job, a divorce or an unexpected illness or injury. You can't see a way out other than through a personal bankruptcy filing. There's just one glitch…you have a pretty substantial … [Read more...]
Things You Don’t Want to Do Before Filing for Bankruptcy
July 11, 2022 by
Actions that Could Jeopardize Your Right to Protection in Bankruptcy You've run into some financial challenges—maybe your job was affected by COVID or you've racked up significant medical bills due to an injury or illness. You've tried to remedy the situation, but you can see no way forward other than through a personal bankruptcy filing. Don't be … [Read more...]
Avoiding Preference Actions in Bankruptcy
July 5, 2022 by
The Potential Consequences of Selectively Paying Off Creditors before Bankruptcy If you're struggling to make ends meet—you've lost your job because of the pandemic, you've racked up medical bills because of an injury or illness, or you've lost just about everything in a divorce—you may have decided that your best way forward is with a personal … [Read more...]
Chapter 7 Bankruptcy—The Basics
June 8, 2022 by
What Will It Accomplish for You? What Are the Limitations? If you're facing financial challenges, whether you've lost your job in the pandemic, suffered an unexpected injury or illness, or gone through a costly divorce, you may be considering a personal bankruptcy filing to help you get a fresh start. That's what the laws are there for. One of … [Read more...]
How to Know if You Need to File for Bankruptcy Protection
June 1, 2022 by
The Telltale Warning Signs Most of us struggle with finances at some point in our lives. We may have an unexpected illness that makes it difficult or impossible to work, or leads to significant unreimbursed medical expenses. We may go through a divorce or lose a job, or we may simply miscalculate our income and expenses. When is the situation such … [Read more...]
Getting Past the Stigma of Filing for Bankruptcy Protection
May 1, 2022 by
Bankruptcy is Not a Sign of Failure | The Benefits of a Personal Bankruptcy You’ve lost your job because of the pandemic, or you’ve suffered a serious injury or illness, incurring thousands of dollars in medical bills that aren’t covered by insurance. The bankruptcy laws are there to protect you, to give you a chance at a new start, but you’re … [Read more...]
The Texas Bankruptcy Exemptions
April 7, 2022 by
The Property that Can Be Protected When You File for Bankruptcy in Texas When you qualify to file for protection under Chapter 7 of the bankruptcy laws, you can permanently discharge many debts in exchange for transferring some of your assets to the bankruptcy court, to be sold to satisfy your creditors. Some debts, such as child support, cannot … [Read more...]
No-Asset Bankruptcy in Texas
April 1, 2022 by
What Is a "No-Asset" Bankruptcy? How Is It Different from Other Chapter 7 Filings? If you have decided to file for protection under the bankruptcy laws, and qualify for a Chapter 7 discharge of your debts, one of the first things you'll need to do is provide the bankruptcy court with an inventory of your assets. As a general rule, those assets … [Read more...]
Can Tax Arrearages Be Discharged in Bankruptcy?
March 10, 2022 by
Can You Get Rid of Tax Debt in a Chapter 7 Filing? Do you have an unpaid personal income tax debt that's been hanging over your head for a while? Are you struggling to meet your other financial obligations, with the tax arrearage simply adding to your challenges? Have you considered filing for personal bankruptcy protection? Can a Chapter 7 … [Read more...]
