How to Respond When You Have Been Sued for a Fraudulent Transfer in Bankruptcy

Some Tips When You Have Been Sued for Making a Fraudulent Transfer in Bankruptcy When you seek protection under the bankruptcy laws, you must comply with extremely stringent restrictions regarding the transfer of assets before and after your filing. If the bankruptcy trustee or the court has credible evidence that you improperly transferred … [Read more...]

Cancellation of Debt as Income

Here's something that may surprise you if you're trying to get a creditor to forgive or discharge a debt that you owe them, particularly if it's a mortgage lender or a company that has extended you some form of credit—if the debt is discharged, you may be required to claim the amount forgiven as income on your next personal tax return! But wait a … [Read more...]

What Bankruptcy Cannot Do for You

A Chapter 7 (liquidation) or Chapter 13 (reorganization) filing offers many benefits—relief from harassment by creditors, the opportunity to wipe out unsecured debt (if you qualify) and a chance to restructure your debt so that you can meet your financial obligations. But it's not a panacea—there are limits on the extent to which a personal … [Read more...]

What Bankruptcy Can Do for You

The federal bankruptcy laws were enacted to help men and women get a second chance, but they're not a cure-all for financial problems. There are specific limits to the extent to which a bankruptcy filing can help you resolve financial challenges. The Ways a Bankruptcy Filing Can Help One of the most important components of the bankruptcy law is … [Read more...]

The Means Test in a Chapter 7 Bankruptcy Filing

There's a common and persistent misunderstanding about the U.S. bankruptcy laws—one that insists that anyone can file at any time and escape liability for their debts. In fact, under the considerable revisions to the bankruptcy laws in 2005, anyone seeking to permanently discharge debts in a Chapter 7 proceeding must first qualify by submitting to … [Read more...]

Short-Selling Your Home as an Alternative to Bankruptcy

  If you are struggling to meet your financial obligations, and your most significant debt is your mortgage, you may have considered selling your home and getting out from under that debt. But what if you are "under water" on the mortgage loan—what if the fair market value of your home (what you could sell it for in the market) is less than … [Read more...]

Situations Where Chapter 7 Bankruptcy May Not Be Available

Under the federal bankruptcy laws, you can discharge most unsecured debts through a Chapter 7 proceeding, though you need to qualify by submitting to a means test first. Child support arrearages, student loan payments and tax obligations are generally not dischargeable, with extremely limited exceptions. There are other instances where bankruptcy … [Read more...]

Things that You Can Do to Minimize the Risk of Bankruptcy

The federal bankruptcy laws are in place for good reason—so that you can get a fresh start when the circumstances of life cause you to incur unmanageable debt. But the bankruptcy process is rarely a simple or stress-free one. If you can avoid filing for bankruptcy, you'll often be better off in the long run. Here are some simple strategies for … [Read more...]

Filing a Chapter 7 Bankruptcy Petition for Your Small Business

Running your own business can often be a precarious venture. If your business is experiencing serious financial challenges, you need to realistically assess whether it has the potential to succeed. Whether you want to try to salvage the business or just shut it down, a Chapter 7 (liquidation) bankruptcy filing may be helpful. First, though, you … [Read more...]

Filing for Chapter 13 Bankruptcy Protection to Deal with Mortgage and Property Tax Debts

For most people facing financial challenges, it's the mortgage and property tax obligations that are hardest to pay, and typically in arrears. While you generally cannot discharge those types of payments in a Chapter 7 proceeding, you can use Chapter 13 to get some relief. Here's how it works. With a Chapter 13 bankruptcy filing, you'll have the … [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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