Can Student Loans Be Written Off through Bankruptcy?

Unfortunately, it’s very difficult to write off a student loan in either a Chapter 7 or Chapter 13 bankruptcy case. Why? Because you have to prove “undue hardship.” Bankruptcy law excludes student loans from discharge (legal write-off) “unless excepting such debt from discharge. . . would impose an undue hardship on the debtor and the debtor’s … [Read more...]

Dealing with Property Taxes through Bankruptcy

Bankruptcy can help with your property taxes by 1) writing off your other debts 2) giving you more time to pay while protecting your home. Since Texas has no state income tax, homeowners here pay relatively high property taxes. It is the largest source of funding for all your local governmental services. If you fall behind on property taxes, … [Read more...]

Can Income Taxes Be Discharged-Written Off-Or Not?

Some income taxes can be discharged in bankruptcy. Some can’t. It depends mostly, but not completely, on the how old the tax is. To discharge an income tax debt, that particular tax must meet all of four main conditions. So to some extent it’s easy—you’re just checking off these conditions to see that they are all met. But on another level, it’s … [Read more...]

Dealing with an Anticipated Vehicle Repossession through Bankruptcy

Bankruptcy stops your vehicle from being repossessed, and then gives you many tools — under both Chapter 7 and Chapter 13 — to either keep or surrender the vehicle. Stopping the Repossession The moment any kind of bankruptcy case is filed on your behalf, the “automatic stay” instantaneously stops a vehicle repossession. The automatic stay is an … [Read more...]

Dealing with Debts Owed to Ex-Spouses through Bankruptcy

Chapter 13 bankruptcy — the three-to-five-year “adjustment of debts” — can help you with an ex-spouse who is unhappy with you for not paying a debt in the following ways: It can discharge (legally write off forever) nonsupport “property settlement” obligations owed to your ex-spouse through your divorce decree. It can give you time to … [Read more...]

Dealing with Business Litigation against You through Bankruptcy

If you are running a business and are being sued, filing for bankruptcy can help you 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 (write off) any related debt permanently. If instead you want to … [Read more...]

Dealing with a Debt Collector’s Threat to Fight the Discharge of Your Debt

The goal of most bankruptcies is the discharge — the legal write-off of debts. If you are considering filing for bankruptcy to get a fresh financial start through a discharge of your debts, a collection agent telling you that you won’t be able to discharge that debt may well be troubling. So what is the truth about such threats? Idle … [Read more...]

Honesty Leads to the Successful Discharge of Your Debts

Bankruptcy is all about giving you an honest fresh start. Here’s how the U.S. Supreme Court has put it: This Court has certainly acknowledged that a central purpose of the [Bankruptcy] Code is to provide a procedure by which certain insolvent debtors can reorder their affairs, make peace with their creditors, and enjoy “a new opportunity in life … [Read more...]

When a Chapter 7 “Asset Case” Is Not a Bad Thing

There are certain rare but potentially very helpful situations in which you would be happy to hand over some of your assets to your bankruptcy trustee. Your Usual Goal — a “No-Asset” Case When you file a bankruptcy case, you usually want to keep for yourself whatever possessions you own. And most of the time that’s what happens. Bankruptcy is … [Read more...]

Passing the Chapter 7 “Means Test” Even If Your Income Is “Too High”

Even if your income is higher than the “median income,” you may still be able to pass the means test by going through the expenses part of the test. There are a number of ways to pass the means test so that you can file a Chapter 7 case. The easiest way is if your income is no more than the “median income” amount for your state and family size. … [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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