The bankruptcy petition that you file may affect the timeframe determining when you may begin applying for new credit. Before applying, however, your existing debts require a discharge, which occurs as soon as a judge signs a court decree. As noted by Forbes magazine,...
Month: November 2020
Can I go to jail for my debt?
If you have significant debt in Texas, you may fear the consequences of failing to pay. Thankfully, you cannot go to jail for most debts. Understanding state law about this issue may help ease your mind or help you plan your next steps. Jail for debts As...
What should you know about exempt and non-exempt property?
Texas residents like you want to know everything about bankruptcy before you file for it. Each option has different pros and cons. For example, many people believe that Chapter 7's biggest con is having to liquidate your assets. But do you have to get rid of...
Understanding Texas bankruptcy exemptions
Filing for bankruptcy does not mean losing everything you own. In fact, Texas bankruptcy law allows you to keep most of your personal property. Review the available bankruptcy property exemptions in Texas if you have substantial debt you cannot pay and want to find a...
Considerations for bankruptcy after retiring
Financial challenges in retirement have become more common, even among those who begin with assets put back to sustain them. According to Forbes, the rate of bankruptcy filings among people 55 and older is on the rise. More older bankruptcy filers than in prior...