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Understanding Creditor’s Rights and Limitations

If you miss a payment or two on a loan or credit card, you can expect to start receiving phone calls, emails, and text messages to remind you that your account is past due. Though creditors and bill collectors have a right to pursue payment of overdue debts, they do face limits and restrictions.

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Which Chapter of Bankruptcy Should I File?

With economic disruptions caused by the pandemic, many people may have suffered job losses or run up their credit cards to deal with the economic challenges, and now they’re facing an unmanageable debt load. Or an unexpected illness such as Covid-19 might have run up medical expenses sky high.

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Bankruptcy & Student Loans

Student loan debt in the United States totals $1.749 trillion, with some 43.4 million borrowers having federally insured student loan obligations, averaging about $37,113 each. If you factor in private student loan debt, the average balance comes in at about $40,904, according to the website Education Data.

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Understanding Small Business Bankruptcy

Individuals, families, and businesses can all face rough financial times. Small businesses generally have access to the same chapters of the federal bankruptcy code as individuals and families, though one of them – Chapter 11 – is mostly used for businesses.

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When is Filing for Bankruptcy a Good Option?

Your debts are out of control, and creditors are nagging you for payment; in addition, you make a minimum payment monthly on some debts and others who try to hold off in hopes that something will change, you’re in a bind financially, but the thought of bankruptcy scares you. Words such as “failure” and “the loss of everything” sweep through your mind.

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What Does Life After Bankruptcy Look Like?

Is there life after bankruptcy? That’s a scary thought that many people face when their debts have gotten out of hand and their best recourse is to wipe them out through filing bankruptcy. Though the elimination of overwhelming debt is welcomed, the prospect of starting all over can be frightening.

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How to Prepare for Bankruptcy

So far, through September of 2021, some 14,662 Texans have filed for bankruptcy protection. Most of these people chose the Chapter 7 liquidation route, 9,507 or 64 percent of them, while the remainder mostly opted for a Chapter 13 reorganization/repayment plan, or 4,441 at 30 percent.

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Understanding Bankruptcy in Texas

Job loss. Divorce. An unexpected medical expense. A battered economy. Identity theft. Any of these events can trigger financial challenges that can lead to bankruptcy. Suddenly, you're staring at a stack of unpaid bills and wondering if there is a way to save your home and your future. I'm here to tell you that there is.

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