Chapter 7 Bankruptcy

Chapter 7 bankruptcy provides individuals and businesses a way to eliminate most debts and start fresh. It's important to know what this process entails and how it might affect your financial situation.  What is Chapter 7 bankruptcy? Chapter 7 bankruptcy, often called...

Chapter 7 bankruptcy allows you to eliminate unsecured debt and gain a financial fresh start. In Texas, state-specific exemption laws play a significant role in protecting assets during this process.  Knowing how to maximize these exemptions can help you preserve...

Your vehicle is likely necessary for daily life, whether it’s getting to work or handling family responsibilities. However, filing for Chapter 7 bankruptcy can leave you unsure about what will happen to your car loan.  While bankruptcy offers a fresh financial start,...

Filing for Chapter 7 bankruptcy can be a challenging decision, especially when joint debts with a co-signer are involved. Understanding the implications for both you and your co-signer is crucial. In Texas, there are specific considerations to keep in mind. What...

When you struggle with the burden of debt, you may wonder whether the bankruptcy process could benefit you. Exploring the benefits of Chapter 7 bankruptcy can help you determine whether this process is the right way to achieve debt relief in your situation. Chapter 7...

Student loans and the burden they place on millions of Americans have been in the news lately as politicians and courts debate whether President Biden has the power to forgive them. Meanwhile, if you are considering Chapter 7 or Chapter 13 bankruptcy, you could be...

If a debtor's income is sufficient, they probably will not be able to file for Chapter 7 bankruptcy. This is a method for people who are drowning in debt. These people might consider out-of-court options before they file for bankruptcy. However, when out-of-court...

Bankruptcy offers an escape route when debts become overwhelming. If you consider filing for Chapter 7 bankruptcy, you need to pass the "means test." This examination determines whether you qualify to have your debts wiped out or discharged. The means test is crucial...

The chapter 7 bankruptcy process is also known as liquidation bankruptcy. This means that you might sell — or liquidate — some of your property to settle your debts. Naturally, you might want to keep some of this property. One example is a car that helps you get...