Legal Actions Not Affected by a Bankruptcy Filing

The Impact of a Bankruptcy Filing on Other Legal Proceedings When you file a petition under Chapter 7, Chapter 13 or any other part of American bankruptcy law, an automatic stay immediately goes into effect, preventing creditors from filing or proceeding with any legal action to collect the debt except through the bankruptcy process. The automatic … [Read more...]

Discharging Tax Debts in Bankruptcy

The Limited Circumstances Where You Can Wipe Out Tax Arrearages in Bankruptcy In Chapter 7 bankruptcy proceedings, you can permanently eliminate certain debts in exchange for transferring property to the bankruptcy trustee, who sells those assets to satisfy creditors. Among debts generally considered not to be dischargeable in Chapter 7 are tax … [Read more...]

How Will a Bankruptcy Filing Affect Your Ability to Make a Living?

The Impact on Your Current Employment and Future Job Opportunities Even though the American bankruptcy laws were intended to offer a positive form of relief for persons experiencing financial challenges, there's often still a stigma attached to bankruptcy. Many people worry their employer will learn of the bankruptcy proceeding and let them go, or … [Read more...]

The Federal Bankruptcy Exemptions

Protecting Your Assets When You Seek to Permanently Discharge Debts As we indicated in an earlier blog, the allowable exemptions under Texas law in a Chapter 7 bankruptcy petition are extremely generous. As a general rule, you'll be better served by claiming the exemptions under state law. Here, however, are the types and limits on property that … [Read more...]

The Texas Bankruptcy Exemptions

Protecting Property from Attachment in a Chapter 7 Filing When you seek protection under the bankruptcy laws, you can choose to permanently discharge debts under Chapter 7 or to reorganize your debt under Chapter 13. With a Chapter 7 filing, you must turn over certain assets to the bankruptcy court to be sold to pay your creditors. But that … [Read more...]

How Soon Can You Re-File for Bankruptcy in Texas?

The Waiting Period for Chapter 7 and Chapter 13 You can go through a bankruptcy proceeding with the best of intentions, pay close attention to your finances and still have difficulty meeting your obligations. Often, it's a health problem that brings you to consider filing for bankruptcy. That's no surprise and no cause for shame—it's the single … [Read more...]

Losing Your IRA in a Bankruptcy Proceeding—Can It Happen?

Can You Lose Your IRA Investment in a Bankruptcy Proceeding? The Factors that Can Put Your Retirement Assets at Risk The 2005 revisions to the Bankruptcy Code specifically excluded individual retirement accounts (IRAs) from seizure by the bankruptcy court to satisfy creditors in a Chapter 7 liquidation proceeding. The exemption, however, is not … [Read more...]

Can Chapter 13 Help You Restructure Income Tax Debts?

Using the Bankruptcy Laws to Address Personal Tax Liabilities If you have fallen behind on your taxes, you may be under the impression that you cannot use the bankruptcy laws to help you get a handle on that debt. While it's generally true that most income tax arrearages cannot be discharged in a Chapter 7 liquidation proceeding, you may still be … [Read more...]

Filing Chapter 7 When You Don’t Want to Keep Your Home

Using a Liquidation Proceeding to Terminate Your Mortgage Obligation Often, when you decide that a personal bankruptcy filing is your best option for getting your finances under control and getting a new start, you still want to keep your home. But what if that's not really in your best interests? What if the costs of keeping your home will be too … [Read more...]

Filing for Chapter 7 Protection When You Want to Keep Your Home

Using a Personal Bankruptcy Proceeding to Keep Your House One of the most common factors leading to the decision to file for bankruptcy protection is the inability to stay current on mortgage obligations. If you're in over your head, a Chapter 7 bankruptcy proceeding can allow you to permanently discharge certain debts. That usually involves … [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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