Latest on the Bankruptcy Blog

Many people wonder about how a potential bankruptcy will affect their student loan debt. The unfortunate news is that student loan debt is notoriously difficult to discharge in bankruptcy without demonstrating “undue hardship,” a vague term that is very difficult to prove to the right people. However, there are a few options for managing student  … Read more

When you are looking over your Fort Worth bankruptcy options, you are probably looking at the differences between the two main types of filing for individuals, Chapter 7 and Chapter 13. Other chapters of the bankruptcy code, such as Chapter 11, may not seem to pertain to individuals, as they are geared more toward businesses.  … Read more

Prior to filing for either Chapter 7 or Chapter 13 bankruptcy, individuals are required to go through mandatory credit counseling. This credit counseling session is designed to ensure that people who wish to file are truly in need of the protections that bankruptcy offers, and discusses possible alternatives. In addition, credit counseling offers individuals advice  … Read more

Although in many cases getting into a bit of debt is an unavoidable fact of the modern age, the massive amounts of debt that many Americans face ought to be able to be avoided, or at least lowered. Although there are many common-sense ways to stay out of unnecessary debt, enough people still make the  … Read more

A Texas bankruptcy court has ruled that an individual acted improperly in attempting to file for personal Chapter 11 protection recently. According to the ruling, the individual attempted to use Chapter 11 protection to avoid posting bond in another legal matter that was scheduled for the courts. The Texas bankruptcy court has found that the  … Read more

According to a foreclosure lawyer , foreclosure starts – the measure by which many industry professionals measure the status of the market – are down by nearly 40% from last year’s numbers. That is a very good sign both for the long-suffering housing market, and for the individual homeowner; the latter being less and less  … Read more

Coming out of your Chapter 7 bankruptcy, you should feel like you have a clean slate. Most or all of your outstanding debts have been wiped clean and you are ready to get a fresh start, building toward a better financial future. But what happens when a former creditor does not get the memo? Discharge  … Read more

If you are considering loan modification options, you may be wondering whether a loan modification program will affect your credit score. The answer can vary widely based on a number of factors; in general, loan modification does affect credit score, but how and how much is almost entirely based on the individual’s case. How Loan  … Read more

Many people who have considered filing for Dallas bankruptcy know about the main differences between the two most common types of personal Dallas bankruptcy, Chapter 7 and Chapter 13. There is another fairly common type of Dallas bankruptcy; although it does not have an official chapter number, usually it is referred to by bankruptcy lawyers  … Read more

Credit counseling became a mandatory part of the pre-bankruptcy process in 2005, when Congress passed a law reforming parts of the bankruptcy code. Specifically, the mandatory counseling rule was put in place because it was suspected that people who were actually able to pay their debts were turning to bankruptcy instead. The mandatory credit counseling  … Read more