Latest on the Bankruptcy Blog

Student Loan debt in America is the highest it’s ever been with debts owing $1.3 trillion in outstanding student loan debt, affecting 44 million borrowers. With student debt now ranking 2nd among overall consumer debt in the US, doesn’t it make sense that you’d be able to discharge student loan debt in bankruptcy? Unfortunately, numerous  … Read more

To the unknowing or uninitiated, declaring bankruptcy, either chapter 7 or Chapter 13, may seem like magically eliminating all your debt. This leads many to ask who pays for bankruptcy.   It’s true that bankruptcy will wipe out some or all debt, the debt solution comes with filing fees and administrative costs associated with it. Bankruptcy  … Read more

So you’ve filed Chapter 7 bankruptcy and received your discharge. After bankruptcy, individuals logically begin to consider how they can start to build back their credit which typically involves obtaining a new credit card. While some may want to steer clear of credit cards, especially those who filed bankruptcy in order to wipe out credit  … Read more

There are numerous facets to obtaining protection for your debts with Chapter 7 or Chapter 13 bankruptcy. However, we’ve distilled the top things to know about bankruptcy in order to discharge your debts and get your financial house back in order. There are Two Different Types of Bankruptcy Consumer bankruptcy is divided into two separate  … Read more

A Farmers Branch, Texas-based chiropractic center working on groundbreaking brain trauma treatments has declared bankruptcy and closed its doors. The company, Cerebrum Health Centers was once a darling of numerous Texas investors and Governor Rick Perry alike. The company, formally known as Carrick Brain Centers, was even given research funding to the tune of $2  … Read more

A law journal put out by the American Bankruptcy Institute by two Justice Department officials last week reminds everyone that there is no bankruptcy for cannabis businesses in the United States. In the article written by Clifford J. White III and John Sheahan. The denial of bankruptcy protection for this category of businesses is due  … Read more

Retailers all around the country are filing for chapter 11 bankruptcy at an unprecedented rate. This mass of bankruptcies has led to a large number of store closings via liquidations. Liquidation scales may seem like a huge savings opportunity, however, stores attempt to maximize sales with the liquidations sales and so, consumers must use caution  … Read more

When filing bankruptcy the US Bankruptcy Trustee assigned to your bankruptcy case will examine your income versus expenses. During the course of a Chapter 13 bankruptcy, the court allows for expenses that are considered “reasonably necessary to live”. A number of expenses are allowed to be included in this list and excludes payments to unsecured  … Read more

Chapter 13 bankruptcy is quickly becoming one of the most utilized forms of debt relief in Texas. When filing for Chapter 13 bankruptcy protection, your debts are categorized into priority and nonpriority debts, as well as, secured and unsecured. All priority debts such as family support payments and certain taxes must be paid back. Additionally,  … Read more

Whether you can keep the money you haven’t received yet, but are likely to depend on which state that you live in. Since the personal injury happened before filing bankruptcy, any settlement received becomes part of your bankruptcy estate. How much you are allowed to keep depends on the exemptions available to you in the  … Read more