bankruptcy blog

When you and your Houston Bankruptcy Attorney file for Chapter 13 in Texas, you submit a Chapter 13 repayment plan. This financial reorganization plan takes into account how much excess income you earn every month that can be paid to creditors. The Chapter 13 repayment plan lasts anywhere from 3 to 5 years, which is  … Read more

Medical debt has long been one of the leading causes of bankruptcy in Texas and every other state in the union. Medical debt can strike anyone at any time; Even individuals in high tax brackets who have insurance. AS the nation has pushed for universal healthcare that works for everyone, here is the latest on  … Read more

Legally, you can file bankruptcy on your own. You can fill out the paperwork, file it with the clerk and represent yourself with the trustee, your creditors, and the bankruptcy judge. The question is, should you? You could spend hours combing over all the information you can find about how to fill out your forms  … Read more

Often the first thing people wonder when they are thinking about filing bankruptcy is how much of their stuff they will have to give up. Keeping Assets In most cases, you will be able to keep your most essential assets such as your home, vehicle, furniture and personal property. Very often debtors who file bankruptcy  … Read more

A vehicle payment is the most common type of consumer secured debt. Having easy access to a vehicle is essential for most of us to get to our jobs, schools, doctors appointments, grocery store, etc. We often pay for this convenience in the form of a car payment. When we get behind in the vehicle  … Read more

When you file for bankruptcy, the court will be interested in the kind of debt you have. If you have a lot of unsecured debt, you may want to file Chapter 7, or liquidation bankruptcy to have those debts discharged. If on the other hand, you have a home and vehicle you would like to  … Read more

Often when we are facing unexpected or unmanageable debt, we look for other areas in our finances to get money. We think that we can get out from under the debt that we are struggling to pay each month by using credit cards, or loans from banks or family. Sometimes we are tempted to liquidate  … Read more

It can be very stressful when you are struggling financially, and the government wants you to pay a large tax debt. Some of us believed that once you owe the IRS money, they will never forget and hound you forever adding fees and penalties until you can finally pay it off. Fortunately, this is not  … Read more

Exemptions or exempt property in a United States bankruptcy case is where a debtor is permitted to keep certain property from unsecured creditors such as personal belongings, your home, vehicle, tools needed to perform your job, or retirement plans. The amount of property a debtor may keep depends on the state in which they live.  … Read more

Bankruptcy is a tool used to help eliminate troublesome debt, however, what happens if you are on the creditor side it can be distressing. While many individuals do not ever believe this will happen to them, it happens quite often every day when individuals pay a large down payment to a general contractor for work  … Read more