It is not unusual for many people who have gone through a bankruptcy to give up their home. It may be that they had to relinquish their apartment because of arrears. Or, in some cases even home owners who have no equity in their home will give it up because the mortgage payments are too  … Read more

The whole purpose of bankruptcy is to bring financial relief to individuals who have no other options available to them. It is not designed to increase their hardship. For those with disabilities they can easily end up in a dire financial situation. Most often they are on a limited income. Then they frequently get hit  … Read more

The means test is part of the bankruptcy process, and it is used whether you are filing under chapter 7 or chapter 13. There is plenty of confusion, and a lack of knowledge, about the means test that has caused both lawyers and consumers to hesitate. Reading some of the theoretical articles written in the  … Read more

Claiming bankruptcy is a big step and one that comes with mixed emotions. At first there is a lot of apprehension as to whether it is the right decision. Then there are concerns as to what is involved and what you may lose. It may have been that you gave up your home. Now you  … Read more

The most common types of bankruptcy are Chapter 7 and Chapter 13, but there is also a Chapter 11.  The Chapter 11 is strictly for business and is far more complicated. It is more geared towards reorganizing the debt. The debtor does get the chance to produce a plan, however after a period of time  … Read more

Many people reach a point where their financial situation is leading them to think that it will just be a simple matter for them to claim bankruptcy to rectify the problem. What they don’t realize is that bankruptcy is not a simple matter. Before even making the decision that bankruptcy is your best option you  … Read more

Bankruptcy is often a frightening process. As a leading Dallas bankruptcy lawyer I feel it is important to take the time to counsel clients on all options to see if bankruptcy is avoidable for their situation. If at all doable, it’s always best to avoid bankruptcy in the first place. Despite being in deep debt,  … Read more

Bankruptcy protects consumers and businesses who cannot pay their debts by easing the burden on both the indebted and creditors. There are two types of bankruptcy: liquidations and reorganizations. Liquidity is a term that refers to assets. Liquid assets include things that can be sold, and illiquid assets are those items that cannot be accessed  … Read more

When you learn that a friend or loved one has filed for bankruptcy, your natural instinct is to help out. However, most people find they need guidance on what actually helps a bankrupt person and what makes the situation worse. Here are a few things not to say to a bankrupt person, as well as  … Read more

One thing that often holds people back from the debt relief they desperately need is the fear of the stigma associated with filing for bankruptcy. The truth is there isn’t much to fear about bankruptcy and it is actually a pretty cool tool for getting you back on your financial feet.  Further, once your debts  … Read more