Bankruptcy for many is a last-ditch effort to get out of debt. When there are more bills in a month than income, it is impossible to pay everything due. Bankruptcy is a way for a person who is in financial trouble to get a fresh start. It is a court process that...
Chapter 13 Bankruptcy
Can you keep your house and car if you file for bankruptcy?
Declaring bankruptcy does not necessarily mean that you will have to forfeit the property that you value most such as your home or your car. In fact, bankruptcy can help you keep your property. Your ability to preserve assets may depend on the type of bankruptcy that...
How can you avoid credit card debt?
Texas residents like you opt for Chapter 13 bankruptcy because a repayment plan works in your favor. But did you know that you still have to keep on top of secured debts that survive bankruptcy? You must make mortgage and loan payments throughout the bankruptcy...
How are Chapter 7 and Chapter 13 bankruptcies different?
When medical bills, credit card bills or other debts become too much for you to manage, you may find yourself looking for ways to dig yourself out of financial turmoil. You may decide that filing for bankruptcy may be your strongest chance at getting your finances...
What are your obligations as a debtor under Chapter 13?
As a resident of Texas, filing for bankruptcy can free you of your burden of debt. Chapter 13 bankruptcy provides you with good options if you have the ability to reorganize and pay off your debts. However, filing for Chapter 13 bankruptcy also comes with a set of...
Will bankruptcy stop a foreclosure?
There is no immunity from debt issues, so if and when you experience them, you should feel no different than any other resident of Texas. Yet the fact that you are not alone in your struggles with debt does not change the concern you feel over the impact that turning...
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 are some considerations to make before filing Chapter 13?
Chapter 13 bankruptcy is unique because it allows you a chance to repay your debts and avoid losing your assets to liquidation. However, this option is not for everyone because there are a few requirements you must meet. According to The Street, the most important...
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...
Frequently asked questions about credit counseling
When filing for Chapter 13 bankruptcy, credit counseling is an essential aspect of the process. The purpose of credit counseling is to ensure the person filing for bankruptcy has no other reasonable options in order to ease their debt burden. It also helps you develop...