Creating a debt repayment plan during bankruptcy involves several factors. In Texas, repayment plans under Chapter 13 bankruptcy depend on income, expenses, debts, and state-specific regulations. Evaluating disposable income The court uses disposable income to...
Chapter 13 bankruptcy offers individuals and families the opportunity to restructure their debts to gain better control of their finances. Despite its wide recognition, there are many misconceptions about this path that can discourage people from considering it as a...
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,...
When preparing to file bankruptcy, you may not realize that you have more than one option. Many people are familiar with a Chapter 7 bankruptcy, but a Chapter 13 may be a better choice, depending on your circumstances. Restructure your debts Filing a Chapter 13...
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...
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...
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...
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...
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...
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...