Have you ever found yourself in the midst of a financial storm, hoping and praying for a life raft? Yes, we’re talking about the perfect storm–bankruptcy. Going through a bankruptcy might feel like you’re stranded in open seas amidst a never-ending storm that threatens to put you—and all your … [Read more...]
How Much Debt Do You Need to File Chapter 7 Bankruptcy?
Bankruptcy is a major financial decision that can provide relief from overwhelming debt. But it's not a choice to make lightly. Knowing the right time to file for bankruptcy is important. This helps ensure it works as intended and doesn't cause more problems. At Warren & Migliaccio, we … [Read more...]
Can a Second Mortgage Be Discharged in Chapter 7?
As an attorney with extensive experience in bankruptcy law here in Texas, I encounter clients facing all sorts of complex financial challenges. I remember the first call I received from a new client named Hank, a Texan grappling with how to manage the second mortgage on his home that he just … [Read more...]
Chapter 7 Means Test Calculator Online: A Guide to Financial Relief
As an attorney focused on consumer bankruptcy law, I recently had an encounter with a single mother struggling to make ends meet. Let's call her Sarah for story purposes even though that’s not her real name. Juggling multiple jobs to support her two young children, Sarah found herself drowning in … [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...]
Chapter 7 Pros and Cons: Weigh Your Options Carefully
In my role as a bankruptcy attorney here in Texas, I've helped many individuals dig out from under soul crushing debt. Each client brought a unique story and set of circumstances to the table but many of them also shared similar struggles and fears. Please allow me to tell you about Mr. Whirley. … [Read more...]
Consequences of Hiding an Inheritance in Bankruptcy
Hiding inheritance in bankruptcy – or hiding any asset for that matter – is one of the bad decisions people may make when they are going through the bankruptcy process. Always follow Texas bankruptcy laws, and come to Plano bankruptcy attorneys with any questions that may arise to ensure … [Read more...]
Spendthrift Trusts: Protecting Inheritance During Bankruptcy
Spendthrift trusts may be helpful for individuals who file for bankruptcy in Texas but who later receive an inheritance shortly after filing for bankruptcy. In many cases, it is likely that assets from an inheritance received within 180 days of filing for bankruptcy will be used to pay off … [Read more...]
How Plano Graduates Can Get Out of Student Debt
Learning how to get out of student loan debts may prove helpful to some who are heavily financially burdened. Although it may sometimes be totally eliminated, it is generally difficult to erase. Options for Dealing with Burdensome Student Loan Debt If you’re struggling to make payments, one … [Read more...]
Avoiding Car Repossession in Chapter 7 Bankruptcy
When looking into the option of filing a Chapter 7 bankruptcy, one of the primary concerns for many is how to avoid car repossession. Most people realize the need to retain their vehicle and continue making payments on it. While you could surrender your vehicle if you choose, doing so may wind up … [Read more...]
