Texas and federal bankruptcy codes provide options that may allow you to keep your car. Because most individuals need a vehicle to drive to and from work, you may claim an exemption for your car when filing a Chapter 7 bankruptcy petition. Under The Lone Star State's...
Month: August 2020
What can bankruptcy’s automatic stay protect you against?
When your finances start spiraling out of control due to job loss, medical bills or something similar, you may be looking for a way to dig yourself out of debt and make things more manageable. If you are considering filing for personal bankruptcy, doing so may give...
Four things to know about a Chapter 13 repayment plan
As opposed to the liquidation involved in Chapter 7 bankruptcy, Chapter 13 filers have enough income to at least partially repay some of their creditors over time. The repayment plan is a prominent feature of Chapter 13 bankruptcy. A person who files for Chapter 13...
What is your debt-to-income ratio?
If you want to buy a house, car or any other major item, you probably need a good credit score. Unfortunately, though, if you have too much credit card debt, your credit rating may be in the basement. While credit bureaus use a complicated and somewhat secretive...
Texans can still buy a home even after bankruptcy
Bankruptcy can create some setbacks. However, those setbacks don't mean people can't pursue specific financial goals. For many, one of those goals is becoming a homeowner. Some lenders may be skeptical of those with a bankruptcy on their credit score. However,...
What is a secured credit card?
Bankruptcy can be a useful tool for individuals to get out from under overwhelming amounts of debt. The issue that most people have with bankruptcy is that it does affect their credit score. A person can rebuild, credit, however. most people do rebuild it following a...
Can you rebuild your credit after Chapter 7 bankruptcy?
Chapter 7 bankruptcy is a debt relief tool that many Americans turn to, particularly when medical and credit card debt becomes too overwhelming. Once you have been through bankruptcy, your credit score does take a hit. Credit scores do change, however. You can rebuild...