Bankruptcy is a legal term that essentially means you can no longer pay your debts and are in need of serious financial assistance. By filing for bankruptcy, your debts are halted until you can sort your finances out and figure out a solution, whether it be a payment plan or asset liquidation. If you live in Texas and your finances are in jeopardy, you may be wondering how to file for bankruptcy in Texas. Texas’s laws are a little different when it comes to filing for bankruptcy, so a thorough understanding of these laws is vital. How to File for Bankruptcy Gather Your Financial Information ..read more

Many people hear the word “bankruptcy,” and they immediately fear the worst. Fortunately, bankruptcy does not have to mean the complete annihilation of your finances; it can be a fresh start. A bankruptcy done right can be an opportunity to free yourself from copious amounts of debt and figure out your next steps. A significant part of that fresh start is a bankruptcy discharge. You may be wondering, “What is a bankruptcy discharge and how does it work?” Bankruptcy Discharge When you apply for Chapter 7 or Chapter 13 bankruptcy, you can receive a bankruptcy discharge, which is effectively a co ..read more

Total American household debt has reached nearly $17 trillion. Credit cards, home loans, student debt, and car loans are the top reasons people owe money in this country. Often, insurmountable debt can be cleared by filing for bankruptcy, but that may not shield an individual from claims seeking repayment of debts. However, there is a time limit by which claims must be made, which is known as the statute of limitations. If you have concerns about how to handle debt and the pros and cons of filing for bankruptcy, a qualified attorney can guide you through the process. They can provide legal rep ..read more

If someone sues you for debt and that person wins the civil claim, you will face a judgment. Often, this court order describes the conditions and timeline for repaying the debt. Facing a judgment can leave debtors feeling hopeless, but there are often remedies for those punitive rulings. One means of protecting your assets is through filing for bankruptcy. You may be wondering what effect bankruptcy has on judgments. Understanding Judgments Anyone who has significant debt that has not been repaid in a timely manner may be subject to a civil claim. Typically, this process begins when the debtor ..read more

Making the decision to file for bankruptcy can be a difficult one. Once you have decided which chapter of bankruptcy you want to file, you may start to worry about things like your car being repossessed. While it is true that creditors must stop harassing you, you can still lose your car or other assets. Hiring a Texas bankruptcy lawyer can help you avoid repossession. How Does Repossession Happen? In Chapter 7 bankruptcy, your car can be repossessed to help pay off your debt to your creditors. There are several factors that could result in your car being repossessed, such as if you were able ..read more

Deciding to file bankruptcy is a complicated decision, especially if one partner is ready to move forward and the other isn’t. To learn more about the process that happens if one spouse files for bankruptcy without their spouse, talk with a Texas bankruptcy attorney to learn your next steps. While it’s possible for one spouse to file bankruptcy without the other, it can still affect both parties. If this is something you are considering, contact my firm. I have been working in bankruptcy law since 2009 and have handled many bankruptcy cases over the course of my career. I can help you find the ..read more

If you are considering filing for bankruptcy, you must be in a difficult financial place. Having debts that have built up over time might have put a significant strain on you, especially if you lost a source of income, perhaps your only source. Being unable to pay back a debt such as rent might have led to you being evicted from your home or being threatened with eviction. You might be wondering, “Does bankruptcy clear evictions in Texas?” An eviction may be seen on your record by all potential landlords and can make it harder for you to find a new place to rent. You may consider bankruptcy to ..read more

When you are struggling financially, it can be detrimental for a debt collector to garnish your wages to pay for debts you can’t afford at the moment. One of the most effective ways to fight wage garnishment is to file for Chapter 7 bankruptcy and start over financially. There are significant benefits to bankruptcy but also certain disadvantages, so it is important to understand wage garnishment and Texas bankruptcy law as it applies to you. Wage Garnishment Laws in Texas Wage garnishment is a consequence of not paying back the debts you owe. Creditors can obtain a court order to have your emp ..read more

Filing for bankruptcy can leave you with many worries about your assets. For many in bankruptcy, the financial woes they face can be for a number of reasons, and the process can feel unfair and leave you in seemingly permanent financial ruin. However, filing for bankruptcy can still leave you with options to protect your assets and yourself from unfair creditors. Even after you file for bankruptcy, creditors can prevent you from moving forward. To prevent creditors from continuing to collect, you can petition for additional protections in tandem with bankruptcy. Known in Texas as automatic sta ..read more

Bankruptcy provokes a variety of emotions and assumptions for those confronted with it. Whether you are filing for Chapter 7 or Chapter 13 bankruptcy, you may feel helpless and as if everything you worked for will be taken from you. While filing for bankruptcy may place your assets in a trust from which creditors can be reimbursed, there are exemptions that could protect a variety of your assets. Understanding what can and cannot qualify for exemptions can not only reduce some of your apprehension surrounding bankruptcy but can also help you protect what is most important to you. Bankruptcy E ..read more