Chapter 7 or Chapter 11—What’s Right for Your Business?

Determining Your Options It's a documented fact—one third of new businesses don't make it a full year, half shut their doors within five years and only a third make it 10 years. If your company is struggling to meet its financial obligations, a bankruptcy filing may allow you to get a fresh start. But should you seek to discharge debts in Chapter … [Read more...]

Support Obligations and Bankruptcy—Your Options

Managing Child Support and Spousal Support Debt in Bankruptcy If you're struggling to keep your head above water financially, and a big part of your monthly outlay is for child or spousal support, you may have questions about whether you can use the bankruptcy laws to get some relief. Here's an overview of your options. Chapter 7 May Not Be Used … [Read more...]

Student Loan Arrearages—Chapter 7 or Chapter 13?

Suppose that you're struggling to meet your obligations and the bulk of your debt is tied to student loan repayments. You're not alone. Statistics indicate that more than 44 million debtors owe over $1.5 trillion in student loan debt, and that that average total amount of debt for graduates of the class of 2018 was $29,800, with many former … [Read more...]

Can the Funds in an IRA Be Part of Your Bankruptcy Estate?

Can You Lose Individual Retirement Account Assets in a Bankruptcy? When you file for protection under Chapter 7 of the bankruptcy laws, a "bankruptcy estate" will be created, into which certain assets of yours will be transferred. If those assets are not exempt under state or federal law, the bankruptcy trustee may choose to sell them to pay down … [Read more...]

Can You Have a Discharge Revoked?

Are There Actions That Can Lead the Bankruptcy Court to Reverse the Discharge of a Debt? When you file for protection under Chapter 7 of the bankruptcy laws, you have the right to permanently rid yourself of the legal obligation to repay certain debts. Under the bankruptcy laws, that's referred to as the "discharge" of a debt. Once a debt is … [Read more...]

Can You Discharge Income Tax Arrearages?

Is There a Process for Getting Rid of Tax Debts? Under Chapter 7 of the bankruptcy laws, once you qualify by taking the means test, you can permanently discharge certain debts in exchange for the sale of non-exempt assets. Some debts either cannot be discharged at all or have limited dischargeability. Family law obligations, such as child support, … [Read more...]

What Happens If a Creditor Attempts to Collect on a Debt that Has Been Discharged?

What Are Your Options If a Creditor Attempts to Collect on a Debt That Has Been Discharged? If you successfully make it through the Chapter 7 bankruptcy process, the bankruptcy court will issue an order discharging certain debts in exchange for the sale of some of your property. A discharge means that you no longer have any legal obligation to … [Read more...]

What Is a Chapter 13 “Super Discharge”?

Permanently Eliminating Debt Through Chapter 13 Reorganization It's a common misperception that if you want to discharge debt, you have to file a Chapter 7 bankruptcy petition. Unfortunately, with the means test that's required to qualify for Chapter 7, many people incorrectly believe they can't discharge debt in bankruptcy. The reality—Chapter 13 … [Read more...]

When a Creditor Tries to Collect on a Debt that Has Been Discharged

Your Rights When a Creditor Ignores a Bankruptcy Order When you successfully file a Chapter 7 bankruptcy petition, you'll be able to permanently absolve yourself from financial responsibility for any debts included in the filing. But what happens if you've completed a personal bankruptcy filing, the court has entered a discharge order and a … [Read more...]

Happy Holidays from Law Office of Carrie Weir

During this season of giving we reflect with gratitude on the trust and confidence you have placed in us. We are thankful for the chance to work with you, and we look forward to working with you in the new year. … [Read more...]

Call Rockwall bankruptcy lawyer Carrie Weir at 972-772-3083 or fill out the contact from below for a free, confidential consultation to discuss your options.

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Consumer Bankruptcy

Can I keep my car? Will bankruptcy stop a foreclosure? Will I ever be debt-free again? How will I ever pay these medical bills?

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Chapter 7 Bankruptcy

If you want to stop creditor harassment, eliminate repossession debt, stop garnishments and keep your house, and car, a Chapter 7 bankruptcy could help.

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Chapter 13 Bankruptcy

Are you in jeopardy of losing your house? Are you making good money but everyone is asking for payment right now? Do you want or need to stop collections?

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