Since 1992, the number of subprime car loans has skyrocketed, showing no sign of slowing down even since the housing collapse.  But for post-bankruptcy debtors, the subprime lending industry could cost them their financial fresh start. Below are a few things post-bankruptcy debtors should watch out for: Hidden Charges Post-bankruptcy debtors looking to purchase a [...]

The question, "When to file bankruptcy?" has one obvious answer, when you can no longer afford to pay your bills. But there is much more involved in actually picking the right time to file your bankruptcy claim. There are qualifications that have to met met for each chapter of bankruptcy. If you want to file [...]

The Bankruptcy Hardship Discharge A Chapter 7 bankruptcy discharges most of your unsecured debt and nonexempt assets may be seized to pay off your debts. But to qualify for a Chapter 7 bankruptcy you need to pass a means test. People who do not pass the means test are typically, although not always, eligible to [...]

Your credit card has been lying to you to prevent you from declaring bankruptcy.  That's right - that piece of plastic in your wallet or purse wants you to think that it's a simple financial tool that requires little thought to use.  After all, what's so complicated about a credit card: all you have to [...]

How Co-Debtors are Protected in Bankruptcy Filing bankruptcy will not only provide protection to the debtor filing bankruptcy; but may provide protection to their co-debtors under certain circumstances. Below we explore when and how co-debtors are protected in bankruptcy: What Is A Co-Debtor? A co-debtor is someone who is equally obligated for a debt owed [...]

Should You File Bankruptcy or Consider Debt Consolidation? For people who are struggling under debt it may be difficult to uncover the best way to get out of the mess. There are two popular options for people with debt, consolidating their debt and bankruptcy. Debt consolidation lets people who are loaded with a lot of [...]

Texas Homestead Exemption According to Texas state law, a homeowner's profits from the sale of their homestead is exempt from creditor claims for six months. However, if a debtor is considering selling their home and filing bankruptcy, there are a few things they should consider first: No Compulsion To Sell A creditor cannot foreclose on [...]

One of the biggest mistakes of pro se bankruptcy debtors is that they often ignore bankruptcy exemptions to their detriment.  It's not that they believe the exemptions are unnecessary, it's just that they don't understand the exemptions or they aren't aware that they have access to them. Below are a few things you need to [...]

Financial education has always been highlighted as one of the keys to success - and when you've just declared bankruptcy, it's more important than ever to stay on top of important (and often confusing) financial terms. After all, many brilliant consumers often crumble in the face of confusing or unclear financial terms - and the [...]

In a recent Chapter 13 bankruptcy case, the bankruptcy court significantly reduced both damages and attorney's fees awarded to a debtor who was the victim of an automatic stay violation.  The bankruptcy court argued that the debtor engaged in behavior that contributed to his own large amount of legal fees and that his pre-bankruptcy behavior [...]