When you find yourself in a difficult financial situation, it is important to understand your options. Before you gain a sense of clarity, it is not uncommon to let your worries spiral out of control. In this way, you can actually make the situation worse than it is....
Smith County Bankruptcy Blog
Should I seek a quick exit from Chapter 13 bankruptcy?
If a court approves your Chapter 13 bankruptcy filing, you will have three to five years to complete a repayment plan that will pay off a significant amount of your debts. But you may wonder if you should try to complete your bankruptcy ahead of schedule. Since...
Exempt assets under bankruptcy law
If you are planning on filing for Chapter 7 bankruptcy, you may be wondering if you get to keep any of your assets or if you have to give up everything. Fortunately, there are some assets that the court considers to be exempt, which means you can hold on to them....
What assets can I keep after filing Chapter 7 bankruptcy?
If the fear of losing assets is preventing you from filing for Chapter 7 bankruptcy while keeping you drowning in debt, it may be time to reconsider the facts. Many people avoid filing for bankruptcy due to the common misconception that it will automatically lead to...
You have some options for handling repossessions and foreclosures
With houses, cars and other items seemingly costing more than ever, it may be impossible for you to pay cash for major purchases. Fortunately, if you have a good credit score and meet other requirements, you may qualify for a mortgage, car loan or personal line of...
How bankruptcy’s automatic stay offers relief from creditors
Having creditors track you down at your Texas home or place of business may prove frustrating and even embarrassing. However, in some cases, filing for bankruptcy might help you get relief from these communications while also helping you get your finances back on...
Recovery is possible after bankruptcy
If you are considering bankruptcy, or if you have a recent bankruptcy, you may be wondering how it is going to affect your credit and financial future. It is true that bankruptcy puts a dent in your credit score, but it does not last forever. The advantage that filing...
Chapter 7 bankruptcy basics
Filing for bankruptcy can be an intimidating process, partly because of the stigma attached to it and partly because of the complex legal requirements you have to meet. Fortunately, there is less stigma surrounding bankruptcy as people start to understand that it is...
Bankruptcy may allow you to get your car back after repossession
Whether you prefer flashy sports cars, sensible family sedans or rugged off-road vehicles, you may love your car, truck or SUV. If you have fallen behind on your monthly payments, though, a financial institution may have repossessed it. Repossession occurs when a...
3 differences between Chapter 7 and Chapter 13 bankruptcies
Bankruptcy gives you the capability of wiping out your debts, allowing you to start again fresh. It allows you to gain financial freedom. Chapter 7 and Chapter 13 are the two most commonly used bankruptcies. Here are three differences between them that may help you...
