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,...
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...
You can improve your credit score in the year or two following Chapter 7 bankruptcy. However, it will take about ten years before you see significant improvements. That is a significant reason many people fear filing for Chapter 7 bankruptcy. While it does hurt your...
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...
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...
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...
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...
If you are struggling to pay outstanding medical, credit card or other bills, you may feel powerless over your financial situation. Still, there are a few debt-relief options that may allow you to regain control. Chapter 7 bankruptcy is one of these. With Chapter 7...