Your Bankruptcy Options When Continuing a Business

What's Best for You—Chapter 11 or Chapter 7? If you own a business that's struggling, but you know it's just a matter of time before things turn around, you can still use the bankruptcy process to your benefit. When you file a bankruptcy petition, you will immediately get the benefit of the automatic stay, which prohibits your creditors from … [Read more...]

Your Bankruptcy Options When Closing Down a Business

Should You Seek Protection under Chapter 11 or Chapter 7 If you own or operate your own business, but you're struggling to make a go of it, you need to honestly assess your chances of long term success. The bankruptcy laws can help you wind down a business, allowing you to put most of the losses behind you. What's the best way to use bankruptcy … [Read more...]

Are Your Retirement Assets Safe When You File for Bankruptcy Protection?

You've worked hard to prepare for a secure retirement, faithfully making contributions to your IRA or to a 401(k). Then you experience health problems, or lose your job, and the bills become unmanageable. A personal bankruptcy filing may be the only way to get back on your feet again. If you file for bankruptcy, though, will you jeopardize your … [Read more...]

How Does a Bankruptcy Filing affect an Inheritance?

Can You Potentially Lose an Inheritance if You Seek Protection in Bankruptcy? You've had difficulty meeting your financial responsibilities, and have successfully discharged debts through a Chapter 7 proceeding. After the termination of the bankruptcy proceeding, you learn that you are the beneficiary of the estate of a loved one. What are the … [Read more...]

Are Any “Family Law” Obligations Dischargeable in Bankruptcy?

The "Super Discharge" under Chapter 13 One of the fundamental principles related to the discharge of debts in a Chapter 7 proceeding is the prohibition of discharge of child support and alimony arrearages. But what about other divorce or family law-related debts to your ex-spouse, ones that have no connection to support obligations? Under Chapter … [Read more...]

Can You Discharge a Car Accident Verdict in Bankruptcy?

It's not common that a private individual will have personal financial responsibility for damages suffered by another person in a motor vehicle accident. That's generally covered by automobile insurance. There are, however, isolated instances where you may be sued directly by another person, or by an insurance company, for losses incurred. Can you … [Read more...]

Can You Manage Tax Debts with a Chapter 13 Bankruptcy Filing?

In an earlier blog, we discussed the limitations on discharging a tax liability through a Chapter 7 bankruptcy filing. You can, however, use a Chapter 13 debtor reorganization to reduce the amount you must pay every month. In addition, you may actually be able to discharge some of your tax debt at the end of the Chapter 13 process. The tax debt … [Read more...]

When Can You Discharge Tax Debts in Chapter 7?

Can You Lose Individual Retirement Account Assets in a Bankruptcy? In a Chapter 7 bankruptcy filing, you can typically discharge certain debts in exchange of allowing some of your assets to be placed in the bankruptcy estate, where they may be sold to satisfy creditors. Among the debts typically identified as non-dischargeable are family law … [Read more...]

Chapter 7 or Chapter 11—What’s Right for Your Business?

Determining Your Options It's a documented fact—one third of new businesses don't make it a full year, half shut their doors within five years and only a third make it 10 years. If your company is struggling to meet its financial obligations, a bankruptcy filing may allow you to get a fresh start. But should you seek to discharge debts in Chapter … [Read more...]

Support Obligations and Bankruptcy—Your Options

Managing Child Support and Spousal Support Debt in Bankruptcy If you're struggling to keep your head above water financially, and a big part of your monthly outlay is for child or spousal support, you may have questions about whether you can use the bankruptcy laws to get some relief. Here's an overview of your options. Chapter 7 May Not Be Used … [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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