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...]
Getting a Secured Credit Card after Bankruptcy
A secured credit card is a relatively safe and effective tool for establishing credit after filing for bankruptcy. Like anything, there are risks and rewards associated with getting a secured credit card. On the one hand, using a secured credit card can demonstrate responsibility to the credit … [Read more...]
Good Idea to Apply for Credit Card after Bankruptcy?
Whether it’s possible to get a credit card after bankruptcy – or whether you should get one – is a concern of many who go through the process. As long as you want to obtain credit cards after bankruptcy for the right reasons, it can be a very good way to help rebuild credit. The primary use of a … [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...]
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