How Responsible People Land in Debt

How Responsible People Land in Debt

You’re a responsible adult who pays their taxes, mortgage, and credit card payment on time. You live by a strict budget and avoid making unnecessary purchases or taking out large lines of credit. However, you could still be at risk of having to file bankruptcy. How? Here are a number of traps that intelligent, responsible  … Read more

  Filed under: Money Management


Can Creditors Take Your Social Security in Bankruptcy?

Can Creditors Take Your Social Security in Bankruptcy?

Countless individuals wonder if creditors can take your social security in bankruptcy. Social security, after all, is a necessary lifeline for numerous Americans, especially the elderly. What happens to your social security money depends on a few factors, but is generally protected by Federal Law from being intercepted and paid to your creditors during the  … Read more

  Filed under: Filing bankruptcy


Can I Eliminate a Tax Lien in Bankruptcy?

Can I Eliminate a Tax Lien in Bankruptcy?

Tax debt is one of the primary types of debt that sends consumers running to their nearest Texas bankruptcy attorney in an effort to find out if bankruptcy will stop the IRS from collecting those tax debts. While the bankruptcy’s automatic stay will stop collection activities from the Internal Revenue Service, there are only certain  … Read more

  Filed under: Taxes


What is Debtor-in-Possession Financing?

What is Debtor-in-Possession Financing?

Businesses that wish to continue operations while also struggling with company debt have the option of filing for Chapter 11 bankruptcy in Texas and every other state in the Union. A Chapter 11 business bankruptcy works quite different from a personal bankruptcy (Chapter 7 or Chapter 13), with the biggest difference being who is in  … Read more

  Filed under: Chapter 11


Bankruptcy for Veterans

Bankruptcy for Veterans

Veterans in our country can’t be appreciated enough. There are numerous, special rules that help veterans obtain housing and student loans, and the US Bankruptcy code is no different. As a disabled veteran or active duty service member, you are entitled to special exceptions when declaring bankruptcy. Chapter 7 Means Test When filing for Chapter  … Read more

  Filed under: bankruptcy


Reasons Not to Fear Bankruptcy

Reasons Not to Fear Bankruptcy

Debt problems can cause many a sleepless night. So why then is there so much fear surrounding bankruptcy? Unwarranted fear of bankruptcy causing worse problems is, in many situations, misplaced and unhelpful. At worst, the fear of bankruptcy can prevent hardworking, dedicated people from getting the debt help that they desperately need. Today we’ll debunk  … Read more

  Filed under: Uncategorized


Property Included in Bankruptcy Estate

Property Included in Bankruptcy Estate

What property will become part of your bankruptcy estate is governed by 11 U.S. Code ยง 541, commonly referred to as Section 541 of the Bankruptcy Code. When you file for Chapter 7 or Chapter 13 bankruptcy, you’ll disclose all property you own, both real and personal, in the Schedule A/B. This is one of  … Read more

  Filed under: Filing bankruptcy