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Separating Bankruptcy Fact From Fiction

When it comes to bankruptcy there is a lot of misinformation floating around. Many debtors considering bankruptcy often listen to the half-truths and outright myths about bankruptcy instead of getting the truth from qualified sources.  Let's take a look two of the most common myths out there about bankruptcy and get to the bottom of [...]

By |2018-11-16T19:51:04+00:00March 4th, 2010|Bankruptcy, Bankruptcy Q&A, Economy|Comments Off on Separating Bankruptcy Fact From Fiction

6 Things You Need To Know About Bankruptcy

Bankruptcy is a legal and often wise decision for debtors who are overwhelmed by their debts and need relief.  While some critics of bankruptcy contend that bankruptcy is a "cop out" the bankruptcy system continues to help individuals and businesses discharge debt and get a fresh new start financially. Before filing bankruptcy, debtors must avoid transferring [...]

By |2018-11-19T21:50:41+00:00March 4th, 2010|Bankruptcy, Bankruptcy Q&A, Managing Your Finances|Comments Off on 6 Things You Need To Know About Bankruptcy

How To Thrive Financially After Bankruptcy

Bankruptcy offers an opportunity at a fresh financial start of even the most indebted individuals.  But how does a debtor ensure that their financial affairs remain in the "black" after a bankruptcy? Here are a few tips: Create A Budget - Whether you filed a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, creating and [...]

By |2018-11-16T19:42:56+00:00March 3rd, 2010|After Bankruptcy, Bankruptcy Q&A, Economy, Managing Your Finances|Comments Off on How To Thrive Financially After Bankruptcy

Bankruptcy and Personal Responsibility

Bankruptcy and the debtors who seek bankruptcy protection have often been the unfortunate victims of unfair labels and generalizations.  One of the unfair and inaccurate labels given to debtors who file bankruptcy is "irresponsible."  Many people see bankruptcy as a cop out or an easy road away from trouble and view those who use bankruptcy [...]

By |2018-11-09T16:27:40+00:00March 1st, 2010|Bankruptcy, Bankruptcy Q&A, Credit Counseling|Comments Off on Bankruptcy and Personal Responsibility

Above Median Income Earners and Bankruptcy

In 2005 the bankruptcy code was changed to make it difficult for above median income earners to file Chapter 7 bankruptcy and discharge their debts.  In Texas, the median income for a 2 person family is $30,502.  If a debtor with a 2 person family earns more than $30,502 they may be forced to file [...]

By |2018-11-13T21:37:59+00:00March 1st, 2010|Bankruptcy, Bankruptcy Q&A, Economy|Comments Off on Above Median Income Earners and Bankruptcy

When Can You Expect Your Bankruptcy Discharge to Occur?

  Depending on the type of bankruptcy you file, you can expect your bankruptcy discharge to happen at a certain time after you file for bankruptcy. For anyone filing bankruptcy, a bankruptcy discharge is a great event that happens during the bankruptcy process.  A bankruptcy discharge releases the person filing for bankruptcy from any debt [...]

By |2017-12-13T04:19:15+00:00March 1st, 2010|Bankruptcy, Bankruptcy Q&A|Comments Off on When Can You Expect Your Bankruptcy Discharge to Occur?

Seven Signs That You Have An Incompetent Bankruptcy Attorney

In the most recent case of bankruptcy attorneys gone bad, attorney William Kaplan's license was suspended for misconduct which once again brings to light the importance to retaining a competent bankruptcy attorney. This bankruptcy attorney's license was suspended; but many have already been negatively impacted by his incompetence. The Board of Commissioners on Grievances and [...]

By |2018-11-19T22:51:20+00:00February 26th, 2010|Bankruptcy, Bankruptcy Q&A|Comments Off on Seven Signs That You Have An Incompetent Bankruptcy Attorney

How Chapter 11 Bankruptcy Can Save Good Companies During Hard Times

Chapter 11 bankruptcy has become almost a like a "miracle cure" for companies around the country.  At the onset of the recession and foreclosure crisis, many companies desperately sought the protection of Chapter 11 bankruptcy, went through the bankruptcy process and emerged more stable and more profitable.  But how is it that bankruptcy can help [...]

By |2018-11-13T17:13:34+00:00February 24th, 2010|Bankruptcy, Bankruptcy Q&A, Chapter 11 Bankruptcy, Economy|Comments Off on How Chapter 11 Bankruptcy Can Save Good Companies During Hard Times

Four Bad Reasons For Delaying Bankruptcy

Debtors delay bankruptcy for many reasons and while there may be some legitimate reasons to delay bankruptcy most of them are not legitimate. Below are four bad reasons for delaying bankruptcy: You're hoping that you will "come into" some money soon, (new job, salary increase, lotto winning etc.) and that it will be enough to [...]

By |2018-11-14T19:53:19+00:00February 23rd, 2010|Bankruptcy Q&A, Credit and Bankruptcy|Comments Off on Four Bad Reasons For Delaying Bankruptcy

It’s Been Years Since I Stopped Paying My Credit Card, Will They Sue Me?

In the state of Texas there is a four year statute of limitations on the ability of debt collectors to sue a debtor because of an unpaid credit card debt.  What that means is that if after your credit card debt is charged off, a debt collector only has 4 years to sue you and [...]

By |2018-11-16T21:29:11+00:00February 19th, 2010|Bankruptcy Q&A, Chapter 7 Bankruptcy, Credit Counseling|Comments Off on It’s Been Years Since I Stopped Paying My Credit Card, Will They Sue Me?