bankruptcy blog

While not as common as it used to be, some creditors and debt collection agencies still result to bully tactics in an attempt to collect a debt that is owed to them. These are empty threats that include: publishing or advertising your debts, drain your bankruptcy account, or even having your arrested. While these menacing  … Read more

When creditors obtain a judgment against a debt you owe them, filing Chapter 7 bankruptcy can discharge the debt. However, if the debtor has obtained a property lien, bankruptcy won’t automatically wipe it out. In essence, debt owed to a creditor and the lien created to secure that payment are separate. Liens Explained When a  … Read more

If you have fallen behind on family support payments, either from child support or alimony, Chapter 13 bankruptcy can certainly help you out of your financial dilemma. While you can’t discharge these types of debts, you can reorganize your total debt load making it easier to avoid falling further behind on child support. Priority Debt  … Read more

If you’ve incurred a large amount of medical debt, it can be a stressful situation in which you may feel you have no place to turn. There are, however, options available that can help eliminate medical bills. Debt accrued from medical procedures, hospital stays, and unexpected injuries is the leading cause of bankruptcy, and you  … Read more

Small businesses run America. The US Small Business Administration reported that in 2017 there were 29.6 million small businesses in operation, consisting of 57.9 million employees. Out of all the business in the United States, that’s 99.9% of them. Unfortunately, only about 50% of business make it to their fifth year anniversary. Businesses fail for  … Read more

One of the most difficult issues involved with making the decision to file bankruptcy for individuals is the fact that it will show up on your credit report and subsequently cause a drop in your credit score. How much your credit score decreases after bankruptcy depends on what your credit score was in the first  … Read more

One of the major advantages of bankruptcy in Texas is called an automatic stay. The automatic stay in bankruptcy legally prevents (stays) all creditor calls after filing bankruptcy. In fact, it prevents any attempts to collect a debt until the conclusion of your bankruptcy case, to include collection calls, collection mail, seizure or repossession of  … Read more

Can I Refile? Filing for bankruptcy protection is a complex process with many forms and schedules that have to be filled out with 100% accuracy and honesty. Most bankruptcy petitions are filed as a last resort to stave off debt and collection actions and so time is usually of the essence as well. If your  … Read more

In a recent survey, 67% of Americans are hopeful about their personal finances and expect them to improve in the New Year. Only about 10% of the respondents felt that their finances will get worse. A third of respondents claimed that paying down debt is a top priority and will focus on eliminating the debt  … Read more

There are quite a few mistakes that individuals make just before filing bankruptcy. These mistakes are made either intentionally with the belief that they won’t be caught by the bankruptcy trustee or “presumptively”, without full knowledge that they are to be avoided. The actions you want to avoid before filing bankruptcy include paying down debt,  … Read more