Liberal Texas Exemptions Let You Keep Most Property | Your Bankruptcy Will Be a Matter of Public Record With a Chapter 7 bankruptcy filing, as with almost everything in life, there are upsides and downsides. Ultimately, your decision comes down to weighing the benefits and the costs. Let's look at how a Chapter 7 can help you, as well as some of … [Read more...]
Debts that Are Difficult (or Impossible) to Discharge in Bankruptcy
April 5, 2023 by
Are Your Debts Primarily Child Support, Taxes or Student Loans? Chapter 7 May Not Be for You When you're looking at your personal options for getting a fresh financial start, the ability to permanently discharge debts under Chapter 7 can be extremely attractive. After all, wouldn't you rather rid yourself of the burden of those debts forever? … [Read more...]
Debunking the Myths Surrounding Bankruptcy
March 9, 2023 by
Correcting the Common Falsehoods about a Bankruptcy Filing You may be struggling to make ends meet, with no relief in sight, but steadfastly resisted the urge to file bankruptcy because of what "everybody says" about the process: You'll lose all your property You'll never be able to buy anything on credit again You won't qualify … [Read more...]
What Is the Automatic Stay in Bankruptcy?
March 2, 2023 by
How Does It Protect You? Can You Lose Its Protections? One of the most physically and emotionally exhausting aspects of struggling to make financial ends meet is dealing with the non-stop phone calls, letters, emails, text messages and other communications from creditors. Your heart can jump every time the phone rings and you can get a pit in your … [Read more...]
Chapter 7 Bankruptcy—The Basics
February 2, 2023 by
What Is a Chapter 7 Filing? What Are the Benefits? What Are the Limitations? Something unexpected has happened in your life. You've been in an accident or you have a serious illness, making it impossible for you to work. Your employer has been so affected by COVID that you've lost your job. Your spouse has filed for divorce. Now what? If you're … [Read more...]
Reasons You Might File Chapter 13 Instead of Chapter 7
January 11, 2023 by
Pursuing Reorganization Rather than Discharge of Debt When you’re considering seeking protection under the American bankruptcy laws, a Chapter 7 petition may seem like the best way to go. After all, you’ll get to totally wipe the slate clean on your debts, right? Isn’t that what you really want? Not necessarily. While fully discharging your … [Read more...]
Get a Fresh Start in 2023
January 5, 2023 by
A Personal Bankruptcy Filing Can Help You Get Your Finances in Order If you're like most Americans, you want to make some changes in your life. For many, the turning of the calendar can be the perfect time and the right motivation to do just that. If one of your New Year's resolutions is to get your financial house in order, you may want to … [Read more...]
Should You File for Bankruptcy before the Holidays?
December 7, 2022 by
The Benefits of Filing before the Holiday Season It's the holiday season—the "most wonderful time of the year," according to the old song. But if you're struggling financially, it can simply be the source of even more stress. The thought of filing for bankruptcy right before Christmas—now that's a real downer. But there are a number of good … [Read more...]
Common Mistakes Debtors Make on the Chapter 7 Means Test
November 15, 2022 by
Errors to Avoid So That You Qualify to Discharge Your Debts If you're looking for a fresh start in bankruptcy and you want to be permanently rid of some of your debts, you'll want to file a petition under Chapter 7 of the bankruptcy laws. To qualify, though, you'll need to submit to a "means test," whereby you demonstrate to the bankruptcy court … [Read more...]
What Debts Should You Pay While in Bankruptcy?
November 10, 2022 by
Payments You Want to Continue to Make after Filing for Bankruptcy When you file for personal bankruptcy protection, whether under Chapter 7 or Chapter 13, an automatic stay immediately goes into effect, preventing your creditors from calling, writing or taking legal action to collect certain debts. There's a common misperception that, once the … [Read more...]
