On behalf of Christopher Todd Morrison, P.C. | Oct 13, 2020 | Chapter 7 Bankruptcy
Many people in Texas might think that Chapter 7 bankruptcy is only an option for individuals looking to have certain debts discharged. That assumption comes from the notion that a business experiencing financial struggles would rather seek a Chapter 11 case that would...
On behalf of Christopher Todd Morrison, P.C. | Oct 13, 2020 | Chapter 13 Bankruptcy, Chapter 7 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...
On behalf of Christopher Todd Morrison, P.C. | Sep 28, 2020 | Chapter 7 Bankruptcy
According to the Judicial Branch of the U.S. Government, filing for chapter 7 bankruptcy discharges a majority of debts for those who are eligible. It also stops creditors from persistently contacting you an in attempt to recoup money owed once the process is in...
On behalf of Christopher Todd Morrison, P.C. | Aug 3, 2020 | Chapter 7 Bankruptcy
Chapter 7 bankruptcy is a debt relief tool that many Americans turn to, particularly when medical and credit card debt becomes too overwhelming. Once you have been through bankruptcy, your credit score does take a hit. Credit scores do change, however. You can rebuild...
On behalf of Christopher Todd Morrison, P.C. | Jul 7, 2020 | Chapter 7 Bankruptcy
When filing a Chapter 7 bankruptcy, you run the risk of losing assets, especially those you do not currently outright own. It is common for someone filing bankruptcy to have a car loan, for example. If you have a car loan but you wish to keep the vehicle, then you may...
On behalf of Christopher Todd Morrison, P.C. | May 7, 2020 | Chapter 7 Bankruptcy
Much of Texas culture is family culture. Your home is an important place to your life, livelihood and well-being. State law recognizes this. As a result, Texas has some of the best protections in the nation for homes during the bankruptcy process. A question of size...
On behalf of Christopher Todd Morrison, P.C. | Mar 26, 2020 | Chapter 7 Bankruptcy
Filing Chapter 7 bankruptcy may provide you with the relief from your debt that you have been seeking. If you qualify for Chapter 7, a trustee will gather and sell your nonexempt assets to pay off your creditors through a process called liquidation. Like other...
On behalf of Christopher Todd Morrison, P.C. | Mar 19, 2020 | Chapter 7 Bankruptcy
There are many myths associated with declaring bankruptcy, and the myth of losing literally everything is one of the most pervasive associated with filing Chapter 7. It is important to realize that, no, you will not lose everything you own if you choose this...
On behalf of Christopher Todd Morrison, P.C. | Feb 20, 2020 | Bankruptcy, Chapter 7 Bankruptcy
Often, it is not living expenses such as housing and transportation that lead to overwhelming debt. People may be able to afford these, but an accident or illness may lead to medical expenses that are impossible to repay. According to a report from...
On behalf of Christopher Todd Morrison, P.C. | Oct 15, 2019 | Chapter 7 Bankruptcy
Texas residents who are having financial difficulties sometimes choose to pursue debt settlement instead of filing for bankruptcy. Debt settlement companies offer to negotiate with creditors to lower the amount owed or monthly payments in return for a fee, but taking...
