If you are considering filing for Chapter 7 bankruptcy in east Texas and you own a timeshare, you may be wondering where the timeshare will end up in the mix. Timeshares are notoriously tough to relinquish, so it can be helpful to understand how this type of...
Smith County Bankruptcy Blog
3 things to know before filing for Chapter 7 bankruptcy
If you have a low income and few assets and cannot pay your bills, you may consider filing Chapter 7 bankruptcy. Up to 63% of those who filed for bankruptcy in 2019 chose Chapter 7. Chapter 7 bankruptcy can result in the dismissal of any of your unsecured debts while...
4 steps to filing Chapter 7 bankruptcy
Chapter 7 bankruptcy may be a good option for you if you do not have enough money to pay off your debts. In theory, the idea behind Chapter 7 bankruptcy is the liquidation of your assets, i.e., selling them to pay off your debts. However, there are exemptions for...
What is indirect debt collector harassment?
Under the Fair Debt Collection Practices Act (FDCPA), debt collectors can no longer make harassing moves or take actions that constitute as harassment against people in debt. However, some debt collectors have taken this as a challenge. Rather than ceasing with their...
What is forbearance and how can it help you keep your home?
Life has a way of throwing hardships at homeowners. Anyone can experience an unexpected job loss, illness or flood. These situations lead to economic hardship. Keeping up with mortgage payments can become impossible. Suddenly, there is the looming threat of...
What documentation should I gather before filing bankruptcy?
When you complete your bankruptcy paperwork, it is critical that you ensure you include all the information about your finances. It is essential that everything in the documents is completely correct and 100% complete. The US Courts explains that if you leave anything...
What to do when facing repossession or home foreclosure
One unfortunate turn of events can disrupt your financial equilibrium and make it difficult to catch up on important payments. If you find yourself struggling to pay your mortgage, you are at risk of home foreclosure. It is important to know your rights and options in...
How soon after filing for bankruptcy could I buy a home?
You most likely first considered a bankruptcy filing because you needed a fresh start; your plans for starting over may also include owning a home. Unless you have enough cash to pay for a home’s selling price, homeownership typically involves obtaining mortgage...
What is exempt from bankruptcy?
Getting caught in an endless cycle of debt collector calls and mailings may overwhelm you. When you do not make enough to pay bills, bankruptcy may help. In Texas, bankruptcy does not require you to give up all your possessions. You have the right to keep property...
Taking control of your finances after bankruptcy
Filing for bankruptcy can provide you with the relief you need when your debt gets out of control. Essentially, bankruptcy allows you to start over. Use this fresh start wisely and avoid making the same mistakes. These tips can help you take charge of your finances....
