Debt can be a confusing and overwhelming issue, especially when you're not sure if you owe money to a debt collector. If you're receiving mysterious phone calls, letters, or emails, or you're simply concerned about potential debts, it's important to take proactive steps to find out if you owe money … [Read more...]
The differences between Personal and Business bankruptcy
The Crossroads of Financial Distress: Navigating Personal and Business Bankruptcy in Texas Financial hardship can strike at any time, impacting both individuals and business entities. When faced with overwhelming debt, navigating the complexities of bankruptcy can seem like a daunting prospect. In … [Read more...]
12 Non-Dischargeable Debts in Bankruptcy You Need to Know
As a bankruptcy attorney here in Dallas, I often get emails like the one I got from Dennis with a subject line: "Can Filing for Bankruptcy Help?" Dennis's Story Dennis and his wife had lived comfortably for many years until a medical emergency wiped out their savings. Then a downturn in … [Read more...]
Explore Your Options: Can SBA Loans Be Discharged in Bankruptcy?
Yes, SBA loans can sometimes be discharged in bankruptcy, but it depends on whether the debt is secured, whether you signed a personal guarantee, what collateral is tied to the loan, and whether there was any fraud or misuse of funds. For many business owners, the key issue is not just the loan … [Read more...]
Can You File Bankruptcy on a Judgment?
If you’re located in North Texas and find yourself facing a judgment, we understand the stress and financial burden it can bring. That’s why we aim to provide you with all the information you need to know about how you can handle the situation. To better comprehend the process, we will explain how … [Read more...]
What Is the Difference Between Chapter 7 and Chapter 13 Bankruptcy in Texas?
The two most common types of personal bankruptcy are Chapter 7 and Chapter 13. As Texas bankruptcy attorneys, a common question we receive is, "What is the difference between Chapter 7 and Chapter 13 bankruptcy in Texas?" Though both Chapter 7 and Chapter 13 bankruptcy can help you get a fresh … [Read more...]
Online Romance Scams and How Bankruptcy Can Help
Many people turn to social media or dating sites to meet their potential partners due to the convenience these platforms offer. For some, the worst happens when scammers trick them into sending their hard-earned cash. There has been an upsurge of online romance scams over the past few years. A … [Read more...]
Should I Get a Home Loan Modification?
Since March 2020, millions of homeowners applied for and received forbearance on their mortgage. However, this relief has expired, along with lenders’ patience. Now, thousands of dollars that were not paid during the pandemic are now due to mortgage service providers. Home loan modification is the … [Read more...]
Bankruptcy: Does Declaring This Discharge Credit Card Debt in Texas?
For consumers who are looking for debt relief, filing for bankruptcy could be the best way to discharge credit card debt and start over with a clean slate. When considering filing for bankruptcy, consumers should decide which type to file based on their specific situation. This article looks at the … [Read more...]
The Brunner Test for Student Loans: What Texas Bankruptcy Law Requires
In Texas and most federal courts, the Brunner test is the three-part standard bankruptcy courts use to decide whether repaying covered student loans would cause "undue hardship" under 11 U.S.C. § 523(a)(8). Established in Brunner v. New York State Higher Education Services Corp., 831 F.2d 395 (2d … [Read more...]
Declaring Chapter 13 Bankruptcy: Pros & Cons
Chapter 13 bankruptcy lets Texas wage earners keep their home and car while repaying debts over three to five years through a court-approved plan. The main advantages: asset protection and the automatic stay. The main drawbacks: lengthy commitment, strict budget, and less than half of filers … [Read more...]
Top 8 Bankruptcy Myths That Should Bite The Dust – Once And For All
There is no doubt that declaring bankruptcy is an emotionally difficult step. As a North Texas bankruptcy law firm, we have witnessed time and again how good, hard-working people fall on hard times and get buried under debt they never asked for. A job loss. A medical emergency. A divorce. These … [Read more...]
