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 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...]
How Chapter 13 Actually Works When Behind on a Vehicle Loan
February 23, 2016 by Leave a Comment
Falling behind on a vehicle loan is scary, especially if you are really relying on that vehicle to get to work—or to find work, and to take care of life’s other responsibilities. It is all too easy to get a vehicle repossessed — vehicle lenders’ contracts generally allow them to do as soon as you are at all late on your payment. Limited Help … [Read more...]
Choosing Between Chapter 7 and 13 after Closing Your Business
February 2, 2016 by Leave a Comment
If you’ve already closed down your unsuccessful business, or are thinking of closing one you are now operating, you must be wondering what’s the best way to deal with the debts that are now saddling you from that business. The answer depends on many factors, including the type of debts that you owe. Here are some of the main kinds of legally … [Read more...]
How Chapter 13 Actually Works When Behind on a Mortgage
January 26, 2016 by Leave a Comment
One of the main reasons that people file a Chapter 13 “adjustment of debts” bankruptcy is because of the many tools it provides to enable them to hold onto their homes. One of the most important of those tools is being able to have three to five years to catch up on back mortgage payments. Advantages over Chapter 7 “Straight Bankruptcy” First, … [Read more...]
How Chapter 13 Actually Works When You Owe Income Taxes
January 12, 2016 by Leave a Comment
A Chapter 13 “adjustment of debts” bankruptcy will allow you to pay off past-due income taxes over a three-to-five year period, frequently without incurring any additional interest or penalties, and often enabling you to pay less of the tax itself. Chapter 13 Gives You Lots of Power Consumers file a Chapter 13 case instead of a “straight … [Read more...]
How Long Must You Live in Texas to File Bankruptcy Here?
December 7, 2015 by Leave a Comment
Bankruptcy is Available Immediately, with Only Some Limited Conditions Bankruptcy is federal law, so there is no waiting period to file bankruptcy after moving from one state to another. However, even though bankruptcy is federal law it incorporate state laws in many ways. Probably the biggest practical way state laws matter in bankruptcy … [Read more...]
The Simplest Chapter 13 Case
November 19, 2015 by Leave a Comment
What Does a Simple Chapter 13 Case Look Like? Under Chapter 13, you and your attorney propose a payment plan based on your ability to pay. Through this plan you usually pay back only part of your debts, and sometimes only a small part of what you owe to at least some of your creditors, and possibly even nothing. Your plan states how much you … [Read more...]
