Latest on the Bankruptcy Blog

For Texas business owners considering a Chapter 7 bankruptcy, you may be wondering if you should go ahead and sell off your business assets in order to close out your business prior to filing. This can be a complicated question to answer and one that should be directed towards a Texas bankruptcy attorney before taking  … Read more

The internet is rife with unsolicited legal advice on how to file bankruptcy yourself. Often referred to as a DIY bankruptcy, there are over 34,000 YouTube results alone instructing individuals on “how to file bankruptcy without a bankruptcy lawyer”. The truth of the matter is that if you have anything to lose, you should hire  … Read more

There are numerous times when individuals who own few assets or even none at all fall into deep debt. In fact, nearly all Chapter 7 bankruptcy cases filed in the US fall into this category. Referred to as “no-asset bankruptcy”, these Chapter 7 cases refer to a debt who owns no property that isn’t covered  … Read more

You’re probably aware that your credit score is an assessment of the risk in making a loan to you. This score is based on your ability to repay debt. But what happens when you marry someone with bad credit or whose credit begins to fall after marriage? How your spouse’s bad credit can affect you  … Read more

Serious debt can come on at a moment’s notice or you may have waited too long to files until your debt situation was more serious. On either occasion, it may become necessary to streamline a bankruptcy and file as an emergency. File a Bankruptcy Petition While filing a bankruptcy petition is simple, it’s not easy,  … Read more

Anyone who has successfully made it through a Texas bankruptcy or credit counseling knows that a budget is absolutely essential to eliminating and avoiding debilitating debt. Keeping a budget can be extremely difficult for many people, but luckily, there are many new and not-so-new software applications that can assist you in keeping track of your  … Read more

Student loan debt is extremely difficult to wipe out in bankruptcy, even for an experienced Dallas bankruptcy attorney. Even though student loan debt is technically unsecured, non-priority debt (the kind that gets eliminated in bankruptcy), borrowers must demonstrate an “undue hardship” which is an exceedingly high bar to reach. Borrowers, bankruptcy judges, and bankruptcy lawyers  … Read more

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