When a homeowner falls behind on their mortgage payments, the lender may choose to initiate a foreclosure process to recover the outstanding debt. One type of foreclosure that is prevalent in many states is nonjudicial foreclosure. Understanding nonjudicial disclosure...
Bankruptcy
What are some ways to improve your credit score after bankruptcy?
Bankruptcy can be a challenging financial setback, but it is not the end of your financial journey. In fact, it can serve as a starting point for rebuilding your credit. Understanding effective strategies to improve your credit score after bankruptcy is important for...
What are some common misconceptions about credit scores?
A credit score is a number that represents a person's credit history and tells lenders how risky it is for them to lend someone money. Many people are aware of their credit score, but may not know much about things like how to increase their score and how to repair a...
Which debts does a Chapter 13 bankruptcy impact?
When a person has to consider bankruptcy, Chapter 7 may seem preferable to Chapter 13. The reason is that Chapter 13 involves a repayment plan, while Chapter 7 might eliminate more debts. However, Chapter 7 is not available to everyone considering bankruptcy. Also,...
How can I get my creditors to stop calling?
Sometimes even your best efforts to make ends meet fall short and accounts fall behind. When you have accounts past due, you may face frequent creditor calls trying to collect that balance. Those calls can be stressful but they do not have to be. There are a few steps...
How does bankruptcy affect my credit score in the medium and long term?
Bankruptcy is a legal process that allows individuals to eliminate or restructure their debt. It is a serious financial decision that can have long-term consequences on an individual’s credit score. Bankruptcy can remain on an individual’s credit report for up to 10...
3 bankruptcy misconceptions
When times get hard, you may face the decision of whether or not to file for bankruptcy. While wrestling with that decision, remember that 399,269 people filed for bankruptcy in 2021, according to the United States Courts. Additionally, ensure that misconceptions do...
What do you stand to lose if you file for bankruptcy?
Declaring bankruptcy is often the best decision when bills spin out of control. It puts an end to calls from creditors and points the way toward financial stability. Some are hesitant to declare bankruptcy because they fear losing everything. In truth, filing should...
Proven record of success – has helped more than 5,000 Texans get out of debt
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...
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...