Bankruptcy exemptions help debtors keep some of their property from being seized by the court. In Texas, you may file for exemptions in your homestead, personal property, personal accounts, or vehicles. If you are married, additional exemptions apply. In bankruptcy filings, all non exempt assets are placed in a bankruptcy estate and managed by the [...]
“Bankruptcy” is a legal proceeding in which a person who cannot pay his/her bills can get a “fresh start”. In Texas, the bankruptcy code is a federal law, meaning it applies uniformly nationwide. Filing for bankruptcy immediately stops creditors from collecting debts from you until the debts are sorted out through an “automatic stay.” Each [...]
Figuring out your financial situation is imperative in a bankruptcy petition. For starters, you need certain details to be able to correctly accomplish your bankruptcy forms. In case you’re hiring a bankruptcy lawyer, the information is also important for him or her to provide you with proper legal help with the right debt relief solution. [...]
If you are looking into filing bankruptcy in Dallas, you must already be having stressful financial problems. You may probably think that it will save you attorney’s fees if you do it on your own. However, you may be unaware that it is a costly mistake in the long run. Working with an experienced Dallas [...]
Most people who file Chapter 7 bankruptcy have little assets and qualify to have most of their unsecured debt discharged. Unsecured debt that may qualify to be wiped off or discharged includes medical bills and credit cards . Having little assets and qualifying debt can help make the process a lot easier. Keep in mind, [...]
Should My Business File Chapter 7 Bankruptcy? While individual debtors have the right to file Chapter 7, Chapter 11 or Chapter 13 bankruptcy, corporations and LLC's only have the right to file Chapter 11 bankruptcy or Chapter 7 bankruptcy. While we often hear of companies filing Chapter 11 bankruptcy, we don't often get to see [...]
Dischargeable Debts in a Chapter 7 Bankruptcy When it comes to Chapter 7 bankruptcy , the primary goal is to get most (if not all!) of your personal debts discharged. From the sky-high credit card bills to medical debts - and everything in between - discharging your biggest debts can give you the fresh start [...]
Fail the Means Test and Still File Chapter 7 Bankruptcy? Some people who fail the Means Test aren't satisfied with the option of filing for a Chapter 13. There is still a chance that you can file for a Chapter 7 bankruptcy but you'll have to prove that you have a special circumstance that requires [...]
When is it too late to stop foreclosure? In other words, when is the absolute latest you can file bankruptcy and stop a foreclosure sale? The truth is, it's not over until it's over. You can file right up to the day of sale. Understanding the Foreclosure Timeline In a typical foreclosure situation, your lender will [...]
If you have fallen behind on your mortgage payments, you're likely worried about protecting your home. But how can bankruptcy help? Is it possible for you to save your house? Below, we discuss how to stop foreclosure actions through bankruptcy and buy yourself a little time. How the Foreclosure Process Works Once your mortgage goes into default, [...]
