Bankruptcy is a process designed to help individuals and businesses eliminate their debts or repay them under the protection of the bankruptcy court. The goal of bankruptcy is to help individuals get a fresh financial start. Bankruptcy is a federal process, but is filed based on the state and … [Read more...]
When will I receive my bankruptcy discharge?
The timeline to receive your bankruptcy discharge depends upon several factors, including which chapter you are filing under and what kinds of debts and assets you have. Most people in Texas filing a Chapter 7 bankruptcy obtain their discharge papers in four to six months, while those filing for … [Read more...]
Why file for chapter 7 bankruptcy?
One of the most common reasons a person will file for chapter 7 bankruptcy is to discharge insurmountable debts. This typically helps pave the way for a fresh financial start. Although there are several options available for declaring bankruptcy in Texas, many consumers opt for chapter 7 because of … [Read more...]
How do I find an approved bankruptcy credit counseling course?
If you’re filing for bankruptcy, you will need to follow the appropriate state and federal bankruptcy guidelines in order for your case to be accepted. Federal bankruptcy law states that anyone filing must complete an approved bankruptcy credit counseling course before putting in their paperwork. … [Read more...]
Do I have to declare family support payments as income?
When filing for bankruptcy, family support payments like child support and alimony will be considered income. It’s important that you list these sources of income on your bankruptcy documentation. Failing to do so may damage your bankruptcy case. A Plano bankruptcy and family law firm can help … [Read more...]
Do I have to file for a tax return before filing for bankruptcy?
Yes, you have to file a tax return before filing for bankruptcy. Not filing a tax return filing can be detrimental to a bankruptcy filing. There are many reasons why a bankruptcy can be denied, so discussing your candidacy for bankruptcy with a Plano bankruptcy lawyer can help ensure that all is in … [Read more...]
Can I remove a bankruptcy from my credit report?
No, you generally cannot remove a bankruptcy from your credit report until the appropriate amount of time has passed, at which point it may be automatically removed. Depending on the type of bankruptcy, it will be removed up to 10 years from the date that you filed. For a Chapter 13 bankruptcy, … [Read more...]
How long will Chapter 13 Bankruptcy stay on my credit history?
An understanding of Chapter 13 bankruptcy rules can help you decide if this is the right decision for you, especially if you are concerned about how the bankruptcy affects your credit. Talking with a Plano Chapter 13 bankruptcy lawyer may help, but know that it will generally stay on your credit … [Read more...]
How long will a Chapter 7 bankruptcy stay on my credit history?
Having a bankruptcy on your credit history won’t mar your record for life, but it will appear on your record for ten years from the date of filing. This is one of many things you should consider if evaluating whether filing Chapter 7 bankruptcy is the right choice for you. Your Richardson lawyer can … [Read more...]
Should I get a credit card after bankruptcy?
Getting a credit card after bankruptcy is possible. Consider talking to a Plano bankruptcy attorney about how filing for bankruptcy may affect your financial choices and limitations. The Costs and Fees After declaring bankruptcy, that declaration stays on your credit record for 10 years. This can … [Read more...]
