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 the specific advantages involved. Debts Included… Read More
Chapter 7 Bankruptcy - Frequently Asked Questions
What is the means test for Chapter 7 bankruptcy?
When filing for bankruptcy, come prepared with an understanding of its basics, such as the means test for Chapter 7 bankruptcy. Guidance from Dallas bankruptcy lawyers also can be important when filing. There are several steps involved in the bankruptcy process. Some of these steps are used to screen prospective filers to determine their eligibility… 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 evaluate… Read More
Am I going to have to give up my personal possessions or property in bankruptcy?
If you are filing for bankruptcy in the United States, you may be wondering if you will have to give up your personal possessions or property. This will depend on the type of property. Law firms in Dallas, Texas who handles bankruptcy cases can help. Some of the laws surrounding bankruptcy will depend on your… Read More
Is Chapter 7 bankruptcy harder to qualify for now?
Our law firm in Dallas has spent years making sure we fully understand how the 2005 changes to U.S. bankruptcy rules will impact our clients. The bankruptcy cases we’ve handled since have shown that these new laws can make it more difficult for you to file Chapter 7 bankruptcy in Dallas, as well as the… Read More
What will not be stopped by an automatic stay in bankruptcy?
An automatic stay can help protect you from lawsuits and other actions when you’ve been declared bankrupt. To learn what your rights are, you should consult with a law firm in Dallas, TX that handles bankruptcy cases. A voluntary petition for bankruptcy means that you’re seeking a legal way to deal with the debts you’ve… Read More
Will I be able to keep my home in Chapter 7 bankruptcy?
In a Dallas chapter 7 bankruptcy filing, you will be able to keep your home on the condition that all of the equity in your home is exempt equity. Before you put yourself on the bankruptcy filing list, gather more information on how the existing bankruptcy code applies to your current financial situation, and speak… Read More