Blog Category: bankruptcy

Loss of income is one of the major causes of bankruptcy in America, not to mention, bankruptcies in Texas. If you become unemployed and can’t afford your current living expenses or debt obligations, bankruptcy can offer solutions to keep your property and discharge unsecured debts. Deciding which type of bankruptcy you qualify for, however, will  … Read more

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

Struggling with debt is a stressful experience which can be expounded by having your vehicle repossessed. When you default on a car loan by missing a payment, the lender of your automobile loan has the right to repossess your automobile. If you’re in danger of having your automobile taken, there are steps that you can  … Read more

Perhaps the largest source of anxiety with declaring bankruptcy is the court appearance called the 341 meeting of creditors. Appearing in court can be considered an unpleasant experience by some, however, the 341 meeting isn’t your normal court appearance and shouldn’t be feared. The 341 meeting can be viewed as a one-on-one conversation between yourself  … Read more

Paying off debt doesn’t necessarily mean you have to earn more, in fact, a more effective strategy is to save more. Part of paying off debt is about being financially responsible, however, it never hurts if you live in a city or state that allows you to leave cheaply. In a recent report on the  … Read more

Many people ask if they can discharge government fines in bankruptcy. Things like federal, state, and municipal fines can be eliminated in some instances. In nearly every case that a government entity imposes a fine as a punishment for thing such as the following are not dischargeable in bankruptcy and must be paid: DUI related  … Read more

When you file Chapter 7 or Chapter 13 bankruptcy you must, as part of the bankruptcy petition filing, disclose all potential legal clams. Or in other words, anyone that you may receive money from in the future whether or not a lawsuit has been file already, should be included in your bankruptcy as an asset.  … Read more

When you are filing bankruptcy there are many forms to fill out and many documents that you will need to provide both your bankruptcy attorney, as well as, the bankruptcy trustee. When you file your bankruptcy paperwork, you will obviously need documentation giving an accurate an honest picture of your finances. The documents needed for  … Read more

Insolvency is a term that can be used to describe having more debts than assets or not being able to pay debts when they are due. Insolvency takes on a slightly different meaning when discussing taxes. When a person has had a debt canceled and still has more debts versus assets, they are considered insolvent  … Read more

You want to file a bankruptcy but cannot decide when.  At times, you may be better off delaying because you may get to keep your property. Or, maybe you could deal with debt in some other way, and not announce bankruptcy.  We’ll highlight some common scenarios, and give you a relevant advice on each. Bankruptcy  … Read more