When you file bankruptcy, you get automatic protection under the law from creditors taking further actions against you. According to Cornell Law School, the automatic stay is a court order that prevents your creditors from continuing to take collection actions. It is...
Month: June 2020
What are the benefits of filing bankruptcy?
No one wants to file bankruptcy. Yet, if you find yourself in dire financial straits, you may have no other choice but to do so. This process can be stressful, because you could face the prospect of parting with valuable assets. But this is often not the case in...
What are your obligations under Chapter 13 bankruptcy?
Texas residents like you sometimes fall on tough financial times. It is difficult to see what you will do when you are in the middle of debt. But there are options available to you. Bankruptcy is one such option. Among the different types of bankruptcy, Chapter 13...
How soon can I begin to rebuild my credit score after bankruptcy?
Myths about filing a bankruptcy petition include losing your chances of having good credit again. While a bankruptcy stays on your record for up to 10 years, you may begin rebuilding credit after a discharge of your consumer debts. Financial institutions use...
Applying for a mortgage following bankruptcy
If you feel swallowed up in mounting debt, then the protection offered by personal bankruptcy may bring you welcome relief from the pressure put on you by creditors. However, as many of those working with our team here at Christopher Todd Morrison, P.C. can attest to,...
Can one spouse file bankruptcy and not the other?
Discharging debt through a Chapter 7 bankruptcy is one way to find relief. However, what if your spouse does not have the same liability? Do you both have to file? The law does not require spouses to file bankruptcy. When only one file, it may prove problematic for...
The risks of using a debt settlement company
Because bankruptcy carries a stigma in the minds of many people, some people try to resolve their mounting debt in other ways, such as hiring a debt settlement company to reduce or eliminate their debt. However, going with a debt settlement company carries some risk...