Filing for Protection under Chapter 12 of the Bankruptcy Laws The Special Provisions for Family Farmers

Most individuals who seek bankruptcy protection must file under Chapter 7 or Chapter 13. Chapter 7 allows you to permanently discharge debts in exchange for the sale of certain property. With a Chapter 13 filing, you can set up new payment arrangements with your creditors, satisfying your debts over a three-to-five year period. However, if you're a … [Read more...]

Should You File a Personal or a Business Bankruptcy Petition?

Choosing the Right Filing When your business is experiencing financial difficulties, it's almost certain to have a detrimental impact on your personal finances as well. If you don't have the business resources to properly compensate yourself, you can easily fall behind on your mortgage, car payments or other obligations. The bankruptcy laws were … [Read more...]

Bankruptcy and Retirement Assets

Can Your Retirement Assets Be Available to Creditors in a Bankruptcy Proceeding? It's no secret that medical expenses are one of the primary causes of personal bankruptcy filings in the United States. Unfortunately, as you age, your risk of health problems and substantial medical bills increases significantly. You may be edging in on retirement, … [Read more...]

Bankruptcy and Inheritance

The bankruptcy laws are in place to give individuals an opportunity to start over again, allowing you to either discharge debts permanently or restructure your obligations with creditors. You may wonder, though, what happens after the bankruptcy is over. Suppose you file for protection, eliminate certain debts and then receive notice some months … [Read more...]

Can You File for Bankruptcy Again?

Your Right to File Multiple Bankruptcy Petitions It can happen to just about anyone—you have an unexpected medical emergency that's not fully covered by insurance or you lose your job and it takes a while to find a new one. That's one of the reasons we have the bankruptcy laws in place—so that you can get a fresh start. But is bankruptcy a … [Read more...]

What a Discharge in Bankruptcy Really Means

When you seek protection under Chapter 7 of the bankruptcy laws, you can permanently "discharge" certain debts in exchange for the sale of some of your personal property. In fact, you may even be able to discharge some debt in a Chapter 13 reorganization. What is a discharge? What does it mean and what doesn't it mean? In essence, a discharge … [Read more...]

Reaffirming a Debt in a Bankruptcy Proceeding

When you file for protection under Chapter 7 of the bankruptcy law, the court can seize non-exempt assets to sell and pay off your creditors. However, if you have personal property not covered by the exemptions, and you want to protect that property, you can choose to "reaffirm" the debt on that property. What Is Reaffirmation of a Debt? In its … [Read more...]

The Means Test in a Chapter 7 Bankruptcy Filing

There's a common and persistent misunderstanding about the U.S. bankruptcy laws—one that insists that anyone can file at any time and escape liability for their debts. In fact, under the considerable revisions to the bankruptcy laws in 2005, anyone seeking to permanently discharge debts in a Chapter 7 proceeding must first qualify by submitting to … [Read more...]

Situations Where Chapter 7 Bankruptcy May Not Be Available

Under the federal bankruptcy laws, you can discharge most unsecured debts through a Chapter 7 proceeding, though you need to qualify by submitting to a means test first. Child support arrearages, student loan payments and tax obligations are generally not dischargeable, with extremely limited exceptions. There are other instances where bankruptcy … [Read more...]

Things that You Can Do to Minimize the Risk of Bankruptcy

The federal bankruptcy laws are in place for good reason—so that you can get a fresh start when the circumstances of life cause you to incur unmanageable debt. But the bankruptcy process is rarely a simple or stress-free one. If you can avoid filing for bankruptcy, you'll often be better off in the long run. Here are some simple strategies for … [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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