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...
Chapter 7 Bankruptcy
What are the eligibility requirements for 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...
Will I lose everything in Chapter 7?
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...
Reaffirming a debt during 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...
The drawbacks of debt settlement
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...
Three reasons why bankruptcy may be a good option
Texas residents who are considering bankruptcy do not take their decision lightly. They usually go back and forth determining if it is right for them. Here are some tips to help individuals determine if this is a good step to take for their circumstances. When a...
Understanding whether Chapter 7 is the right choice
When people in Houston struggle with excessive amounts of personal debt, they may turn to bankruptcy to find a new path to financial freedom. There are several factors that can help people determine whether filing for a Chapter 7 bankruptcy is the best option for...
About Chapter 7
Bankruptcy may be an option for Texas residents who have significant debt that they are unable to pay. One type of bankruptcy, Chapter 7, is the most frequently filed bankruptcy. Chapter 7 bankruptcy is known as a liquidation bankruptcy because it uses the proceeds...
Discharging student loans in bankruptcy
Debt from student loans can be a huge financial burden, and many graduates wonder if they can discharge this type of debt through bankruptcy. Unfortunately, the answer for most is no, but there are some notable exceptions. This has a lot to do with the Bankruptcy...
The internet is not your friend in Chapter 7 bankruptcy
People who have successfully filed for Chapter 7 bankruptcy feel good about rebuilding their lives and gaining control over their spending habits. You decide you may want to blog about that because it could give others hope. Be forewarned: When you blog about...