Bankruptcy laws exist to provide people facing overwhelming debt with a fresh start. However, navigating the rules and regulations can be challenging. The law offices of Christopher Morrison have helped more than 5,000 Texans get out of debt. How the law offices of...
Bankruptcy
Do both spouses need to file for bankruptcy?
In Texas, both spouses do not need to file for bankruptcy. However, some may benefit from doing so. Before you decide to file for bankruptcy, weigh the pros and cons of filing together or separately. Every case is different. Filing for bankruptcy jointly or separately...
Do you know the answers to these 3 bankruptcy questions?
If you are struggling to pay outstanding medical, credit card or other bills, you may feel powerless over your financial situation. Still, there are a few debt-relief options that may allow you to regain control. Chapter 7 bankruptcy is one of these. With Chapter 7...
How can credit card use spiral quickly into debt?
Most American adults have at least one credit card. If you count yourself among them, you may find your balance creeping up each month despite your good intentions. You are not alone in feeling like your credit card debt is spiraling out of control. Many people accrue...
5 myths about bankruptcy
Many people have understandable fears about filing for bankruptcy. However, those fears are often based on misinformation. These are five of the most common myths about bankruptcy. 1. You will not be able to get credit Your credit score may take a significant hit when...
Can we keep our family’s home if we file for bankruptcy?
You may be holding off on filing bankruptcy because you fear losing your home. The fact is, bankruptcy is actually one of the best ways to protect your home. Personal bankruptcy creates a legal barrier between your home and your creditors. According to Culture Map,...
3 immediate benefits of filing for bankruptcy
There should be more to life than the constant struggle to make ends meet. If you feel like you are living from paycheck to paycheck, you are far from alone. In fact, the average American has more than $90,000 in debt. Fortunately, with a bankruptcy filing, you may...
How soon after a bankruptcy discharge may I repair my credit?
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,...
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...
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...