Chapter 7 Bankruptcy

When you find yourself faced with mounting debt, bankruptcy is often a good option. According to U.S. News & World Report, people file for bankruptcy for many reasons. There are also many steps involved to determine whether the process is right for the individual....

You may be considering Chapter 7 bankruptcy as your answer to get out from under debt. You might not own many assets, so Chapter 7 seems like the proper course of action. You also feel glad that Chapter 7 will only take a few months to complete. Still, it is possible...

Going through a chapter 7 bankruptcy can be stressful, but it is also ultimately freeing. Having the yoke of debt removed from you gives you the chance to start a new life. In fact, one of the first things that people wish to do once they finish the bankruptcy process...

Once you start to accumulate debt, it is often difficult to dig your way out of it. If you have a debt with a particular creditor and fail to pay it, that creditor may sue you. If the creditor wins in court, your employer may have to garnish some of your wages to pay...

By law, you must obtain credit counseling before you file for Chapter 7, Chapter 11, Chapter 12 or Chapter 13 bankruptcy. The U.S. Bankruptcy Code mandates this for all individuals who file bankruptcy, even if the majority of your debts relate to your business.  Per...

Many Texas residents have had a tough year financially. If you count yourself among them, you may be considering your options and trying to find some relief. Chapter 7 and Chapter 13 bankruptcies are both personal bankruptcy types. However, there are some important...

Filing for bankruptcy may have already created a bit of uncertainty about the future of your small business. Changes to your financial situation throughout the process may cause other problems that require you to modify your bankruptcy filing.  Understanding when a...

The decision to seek personal bankruptcy protection in Texas is never an easy one. Yet almost as important as deciding to file for personal bankruptcy is determining which Chapter you will file under.  The most popular form of bankruptcy is Chapter 7 (no doubt due to...

If you have decided to file for personal bankruptcy protection, one of the first stops on the journey to resolve your debts will be the 341 meeting.  You may not have heard of this meeting, but here you will learn more about the administration of your bankruptcy...

Filing for Chapter 13 bankruptcy allows you to deal with your debt in two ways, by coming up with a reorganization plan to pay off some of your debts while a bankruptcy judge discharges the rest, relieving you of the obligation to pay it. You might wonder, however,...