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...]
Can I Discharge a Student Loan in Bankruptcy?
March 4, 2022 by
Permanently Ridding Yourself of Student Loan Debt According to recent statistics, the average amount of student loan debt is more than $32,000 per borrower. With the economic challenges brought on by the pandemic, about one in every six persons with a student loan is in default and many more are struggling to stay current. If you have substantial … [Read more...]
Filing for Chapter 13 Bankruptcy in Texas
February 7, 2022 by
What Is a Chapter 13 Bankruptcy Petition? How Is It Different from Chapter 7? As the pandemic continues, more and more of us find ourselves facing financial challenges. Maybe you lost your job or experienced a temporary layoff that put you behind on your bills. Maybe you lost weeks or months of work because you caught the virus. The bankruptcy … [Read more...]
Filing for Chapter 7 Bankruptcy in Texas
February 1, 2022 by
What Differentiates Chapter 7? What Can You Expect? The pandemic has concerns about more than our physical health...for many of us, it's put us in a precarious financial situation. Maybe our employer went out of business or had to downscale. We may have been out of work for a few weeks or months, putting us behind in house, car and other … [Read more...]
Staying Out of Trouble When You File for Bankruptcy
January 12, 2022 by
Things You Don't Want to Do before You File for Protection When you're struggling to meet your financial obligations, bankruptcy can be a godsend. With a Chapter 7 filing, you can permanently discharge certain debts, and, in Texas, you can usually keep most or all of your property. Even if you don't qualify for relief under Chapter 7, you can … [Read more...]
