Is Chapter 11 or Chapter 13 Best for Your Small Business?

There's no way around it—starting your own business takes courage and can be fraught with financial peril. If you've encountered financial difficulties that are making it difficult to keep moving forward, but you're still confident that the business can succeed, a bankruptcy filing can give you the relief you need to get things headed in the right … [Read more...]

Do I Qualify for Protection under Chapter 13?

When the bankruptcy laws changed in 2005, it became more difficult to file for liquidation under Chapter 7. You must now submit to means test to determine whether you have the ability to repay your creditors over a 3-5 year period. If so, then your only recourse for a personal bankruptcy is under Chapter 13. But that doesn't mean that you … [Read more...]

Exceptions to the “Automatic Stay”

The "Automatic Stay" The "automatic stay" is one of the most powerful tools of bankruptcy. It's the law that automatically goes into effect right when your bankruptcy case is filed, and stays—or stops —all collection activity against you and your property. Although the "automatic stay" protects you against just about anything a creditor can do … [Read more...]

Stop Wage Garnishment in Texas with Bankruptcy

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 garnishments CAN occur, including: child support and alimony federal taxes student loans if your employer is out of state a judgment against you was entered in another … [Read more...]

Stop a Vehicle Repossession with Chapter 7 or13

One of the most powerful tools of bankruptcy—the "automatic stay"—can stop your car or truck from being repossessed by its creditor. The automatic stay is the law that automatically goes into effect the moment your bankruptcy case is filed to stay—or stop —all collection activity against you or your property. Filing a Chapter 7 or Chapter 13 case … [Read more...]

Stop a Home Foreclosure with Chapter 7 or 13

The bankruptcy power called the "automatic stay"immediately stops a home foreclosurethe moment your bankruptcy is filed. What happens after that depends on whether you file a Chapter 7 or Chapter 13 case, and on what you want to accomplish. Buy Some Time with Chapter 7 A Chapter 7 "straight bankruptcy" cancels an immediately pending foreclosure … [Read more...]

A More Complicated Chapter 13 Case

In the absolutely simplest Chapter 13 case you pay a monthly amount each month based on what you can afford and it's divided prorata among your unsecured debts. So, say, you pay $300 for 36 months, and all of your debts are paid 20% of what you owe, and at the end of the case all the remaining debts are discharged—written off. But Chapter 13 … [Read more...]

The Big Differences between Chapters 7 and 13

The two main consumer/small business bankruptcy options are quite different. Each one has its advantages and disadvantages. So, for many people Chapter 7 is much better, for others Chapter 13 would be. And for others it's a closer call. Even if you have your mind set on one or the other, it's important to discuss both alternatives with your … [Read more...]

Non-Bankruptcy Alternatives

Bankruptcy is not the best option for everyone. If your financial problems look like they can be solved other ways, those alternatives should be explored. Consider both their advantages and disadvantages honestly. Here are three bankruptcy alternatives, highlighting their risks and concerns: 1. Debt Settlement: Once a debt goes into extended … [Read more...]

Who Does What in Bankruptcy?

It's a lot easier to make sense of bankruptcy if you know who's who in the process. Debtor: The person or business filing bankruptcy. A debtor and spouse can file a joint petition in bankruptcy. The debtor has various duties which your attorney will help you with. The debtor's most important duty is simply to be honest and cooperative throughout … [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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