Factors to Consider When Contemplating Filing for Bankruptcy If you're experiencing significant financial difficulty, whether you've lost your job due to the pandemic, just gone through a divorce, or incurred substantial unreimbursed medical expenses, you may be contemplating filing for bankruptcy protection so you can get a fresh start. Here are … [Read more...]
Keeping Your Property When You File for Bankruptcy
October 27, 2020 by Leave a Comment
The Impact of Chapter 7 and Chapter 13 on Your Property Rights You’re struggling to meet your financial obligations because you’ve been laid off, you’re going through a divorce, or you’ve incurred substantial medical expenses not covered by insurance. You know filing for bankruptcy can help you get a fresh start, but the last thing you want or … [Read more...]
The Credit Counseling Requirement Tied to a Personal Bankruptcy Filing
October 15, 2020 by Leave a Comment
Credit Counseling Must Be Completed Before You File You're struggling to make ends meet, whether because you've been laid off, incurred medical expenses, gone through a divorce, or experienced other financial hardship. You can get immediate relief by filing for protection under Chapter 7 or Chapter 13, right? Not quite so fast. Before you can … [Read more...]
What Bankruptcy Won’t Do for You
September 27, 2020 by Leave a Comment
Bankruptcy Gives You a Fresh Start but May Not Eliminate All Your Debt If you've lost your job because of the pandemic, or your medical bills have piled up, you may be considering filing for bankruptcy in order to get back on your feet. One common misperception is that bankruptcy will wipe out all your debt and let you start over again. While … [Read more...]
The No-Asset Chapter 7 Bankruptcy
September 7, 2020 by Leave a Comment
Keeping All Your Property in a Bankruptcy Filing When you file for protection under Chapter 7 of the bankruptcy laws, you have the opportunity to permanently discharge many debts in exchange for the transfer of some of your property to the bankruptcy trustee. Some debts, such as child support, cannot be discharged by law, and others, including … [Read more...]
How Soon Can You Expect Relief in a Bankruptcy Filing?
August 21, 2020 by Leave a Comment
How Long Is the Bankruptcy Process? When you're struggling to make ends meet with little or no prospect of improving your situation,you want relief and you want it as soon as possible. The automatic stay that comes with a bankruptcy filing will immediately end harassing calls, letters, and legal action from creditors. But how long do the broader … [Read more...]
Proceedings Not Affected by the Automatic Stay
August 6, 2020 by Leave a Comment
Legal Matters that Won't Be Suspended When You File for Bankruptcy If you've been considering filing for protection under the bankruptcy laws to help you deal with unmanageable debt, one of the factors that may have attracted you is the automatic stay that goes into effect immediately upon filing for bankruptcy. The automatic stay prevents your … [Read more...]
When Friends or Family Ask About Your Bankruptcy Filing
July 9, 2020 by Leave a Comment
Helping Them Understand That You've Made a Good Decision When wrestling with unmanageable debt, whether because of a job loss, medical bills, or divorce, one thing that might hold you back from getting bankruptcy protection is the fear of how friends and family will respond. You may worry that you'll let them down or that they'll think less of … [Read more...]
Texas State Exemptions in a Bankruptcy Filing
July 7, 2020 by Leave a Comment
The Property You Can Keep When You File for Chapter 7 in Texas When you seek to permanently discharge debts in a Chapter 7 bankruptcy petition, part of the deal is that you must turn over to the bankruptcy court certain property that can be sold to satisfy your creditors. You do, however, get to keep some property that is exempt. Federal law has … [Read more...]
