If you are running a business and are being sued, filing bankruptcy may well help you. It may help whether you are closing the business or want to keep it operating. If you are closing the business, most of the time filing a Chapter 7 "straight bankruptcy" will stop the lawsuit and will discharge (legally write-off) any related debt, and do so … [Read more...]
How to Prevent Future Judgment Liens
July 22, 2016 by Leave a Comment
Letting a creditor get a judgment against you is dangerous, for a lot of reasons. One of the biggest dangers is a judgment lien on your home. You can often prevent them from hitting the title to your home, and can really help yourself if you do. Creditor Judgments Happen All Too Easily It's very easy to get a judgment against you. If you … [Read more...]
Dealing with a Debt Collector’s Threat to Challenge the Discharge of its Debt
July 2, 2016 by Leave a Comment
The main goal of most bankruptcies is the discharge—the legal write-off of debts. If you are considering filing bankruptcy to get a fresh financial start through a discharge of your debts, you probably don't want to hear a bill collector telling you that you won't be able to discharge that debt. So what is the truth about prior threats to … [Read more...]
Filling Chapter 13 Even Without Getting a Discharge of Your Debts
June 22, 2016 by Leave a Comment
A recent blog post discussed how usually you would have to wait four years between filing a Chapter 7 "straight bankruptcy" and a subsequent Chapter 13 "adjustment of debts" one. But that's only if you need to get a "discharge" of your debts. There are reasons to file a new Chapter 13 case even if you don't get a "discharge" of your debts. The … [Read more...]
How to Keep Your Home through Chapter 13
June 2, 2016 by Leave a Comment
Filing either a Chapter 7 "straight bankruptcy" case or a Chapter 13 "adjustment of debts" one stops a pending home foreclosure, and prevent one from starting. If you're behind on your mortgage (or are about to be) and want to keep your home, whether Chapter 7 or Chapter 13 makes more sense depends on how far behind you are and how much help you … [Read more...]
How to Keep Your Home through Chapter 7
May 22, 2016 by Leave a Comment
Whether you can keep your home when filing a Chapter 7 case mostly depends on the answers to two questions: Are you current or close to current on your mortgage and other debts on your home, and Is the equity in your home protected by your "homestead exemption"? Let's focus today on your mortgage. If You Are Current on Your … [Read more...]
Losing the “Automatic Stay” through Multiple Filings
May 2, 2016 by Leave a Comment
The "automatic stay" stops creditors from pursuing you and your assets starting as of the moment your bankruptcy case is filed. As long as your case is active, they cannot continue harassing you. This is a tremendously important benefit of bankruptcy. It's one you certainly don't want to lose out on. Unfortunately, some people DO lose out on … [Read more...]
How to Keep a Vehicle Even If You’re Behind on Payments
April 22, 2016 by Leave a Comment
Falling behind on a vehicle loan is scary because of the very real threat of having your vehicle repossessed. It is all too easy for this to happen—vehicle lenders' contracts usually legally allow them to do as soon as you are late on your payment. Limited Help with a Chapter 7 "Straight Bankruptcy" Once you have fallen behind on your … [Read more...]
End Support Enforcement’s Collection of Past Due Support
April 2, 2016 by Leave a Comment
Child and Spousal Support (Alimony) Collections Texas state law allows ex-spouses and support enforcement agencies to be extremely aggressive in their methods for collecting support arrearage, especially for child support. This includes garnishment of your wages and bank accounts. Your ex-spouse and support enforcement can also place a lien … [Read more...]
Prevent IRS Garnishments
March 22, 2016 by Leave a Comment
Exceptions Allowing IRS and Certain Other Wage Garnishment in Texas Texas is one of the few states in the country that generally don't allow the garnishment of wages for collection of consumer debts. But there are major exceptions where wage garnishments CAN occur: federal taxes child support and alimony student loans your employer is … [Read more...]
