When your debt becomes unmanageable, you may have legal options like Chapter 7 bankruptcy to get a fresh financial start. But before you file, you must qualify. Our Texas bankruptcy lawyers explain the Texas bankruptcy means test, which decides if you can file for Chapter 7. If you are thinking … [Read more...]
Finding the Right Legal Advisor for Texas Bankruptcy Filings
Bankruptcy filings in Texas can be a complex and overwhelming process. Whether you are considering Chapter 7 or Chapter 13 bankruptcy, the process requires a comprehensive understanding of both state and federal law. As such, finding the right bankruptcy attorney is crucial to achieving a successful … [Read more...]
Effects of Bankruptcy on Retirement Accounts
In most cases, retirement funds are excluded from bankruptcy cases. In other words, usually when debtors file bankruptcy, their retirement accounts are safeguarded and creditors will not have access to them. This comes as great relief particularly to people in the latter part of their careers who … [Read more...]
How to File a Bankruptcy Petition in an Emergency
Facing large amounts of debt can be a scary experience, especially when it feels as though you have nowhere to turn to or nothing that will alleviate your financial problems. When burdened by financial crisis, though, one viable option is filing bankruptcy. Filing bankruptcy can give you an … [Read more...]
Filing for Bankruptcy after a Job Loss
One of the most common life crises that leads to bankruptcy is a job loss. Filing for bankruptcy after a job loss can be an intelligent decision for some people, as they may struggle to make monthly debt payments. There are many things to consider before filing the petition, however, and not every … [Read more...]
Secured vs. Unsecured Credit Cards: Building Credit After Bankruptcy
Most Americans are no strangers to holding at least a small amount of credit card debt. In fact, TransUnion, one of the largest credit bureaus in the United States, reported that the average debt per borrower in the beginning of 2013 hovered at $4,878, a significant sum for many. For those who have … [Read more...]
How Many Times Can You File for Bankruptcy
How Often Can You File Bankruptcy? There is actually no limit on the number of times you can file for bankruptcy in Texas. However, there is a limit on the number of times the courts will discharge your debts. Most of the time, the only reason people file for bankruptcy is to have their debts … [Read more...]
Choosing a Secured Credit Card after Filing for Bankruptcy
Secured credit cards are a viable option for those who have recently filed for bankruptcy. Getting a credit card after bankruptcy can help a person rebuild and reestablish credit after wiping out past debts. It is important to understand the function of a secured credit card, as well as the … [Read more...]
How Does Filing Bankruptcy Affect Your Taxes? What Texas Law Says
Filing bankruptcy affects your taxes in three main ways: in Chapter 7, you usually must give the trustee your most recent filed federal return or transcript at least 7 days before the first § 341 meeting, and in Chapter 13, you must file required prepetition returns for the prior 4 tax years not … [Read more...]
Recent Luxury Debts and Cash Advances May Be Non-Dischargeable in Bankruptcy
Luxury debt or cash advances accumulated just before a bankruptcy filing may be counted among the non-dischargeable debt in your bankruptcy. If you frivolously charge debts to your credit card just before you file, you could still be held responsible for the luxury debts or cash advance. Luxury … [Read more...]
