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...]

Student Loan Arrearages—Chapter 7 or Chapter 13?

Suppose that you're struggling to meet your obligations and the bulk of your debt is tied to student loan repayments. You're not alone. Statistics indicate that more than 44 million debtors owe over $1.5 trillion in student loan debt, and that that average total amount of debt for graduates of the class of 2018 was $29,800, with many former … [Read more...]

Can the Funds in an IRA Be Part of Your Bankruptcy Estate?

Can You Lose Individual Retirement Account Assets in a Bankruptcy? When you file for protection under Chapter 7 of the bankruptcy laws, a "bankruptcy estate" will be created, into which certain assets of yours will be transferred. If those assets are not exempt under state or federal law, the bankruptcy trustee may choose to sell them to pay down … [Read more...]

When a Creditor Tries to Collect on a Debt that Has Been Discharged

Your Rights When a Creditor Ignores a Bankruptcy Order When you successfully file a Chapter 7 bankruptcy petition, you'll be able to permanently absolve yourself from financial responsibility for any debts included in the filing. But what happens if you've completed a personal bankruptcy filing, the court has entered a discharge order and a … [Read more...]

Can You Use Bankruptcy to Avoid Foreclosure?

When you're struggling to meet your financial obligations, one of the first debts that can get away from you is your mortgage. Unfortunately, it won't take long before you find yourself involved in foreclosure proceedings. Perhaps there's light at the end of the tunnel—you can see that your financial situation will improve dramatically in the near … [Read more...]

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...]

Filing Multiple Bankruptcy Petitions

What is the Impact on the Automatic Stay One of the most attractive features of the American bankruptcy laws is the automatic stay. Under this provision, once you file for protection, your creditors cannot harass you in any way in an attempt to collect payments on the debt. That includes phone calls, letters or legal action, other than through the … [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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