William H. Lively, Jr

March 2020 Archives

Study: Bankruptcy unlikely to affect employment

When people in Texas are dealing with insurmountable debt, collection calls or lawsuit threats, they may not be sure which step to take. Bankruptcy may provide debt relief, but many people are worried about filing because they are concerned about potential other effects on their lives. Bankruptcy does have a serious impact on a person's credit report. However, many people are worried more about the potential for effects on other areas, especially their ability to find and get a job. They may know that some employers, insurance companies and others review credit reports when making decisions.

Dealing with an automatic stay for a bankruptcy

After a debtor files for bankruptcy in Texas, creditors' attempts to collect will be automatically halted under a stay. One reason why many people seek the protection of Chapter 7 bankruptcy is because it's becoming difficult or impossible to deal with creditor demands, which include lawsuits and threatened actions, repossessions or even constant collection calls. Under the automatic stay, creditors that want to proceed with an action like a lawsuit, auto repossession or lease termination need to first address the situation with the bankruptcy court. Those that do not may face significant penalties.

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William H. Lively, Jr

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William H. Lively, Jr
432 S Bonner
Tyler, TX 75702

Phone: 903-920-0008
Phone: 903-593-3001
Fax: 903-595-3715
Tyler Law Office Map