You cannot be fired from your current employer for filing bankruptcy, however a prospective employer may consider the fact that you filed bankruptcy. I’ve found that there is greater risk of being denied a new job as a result of having lots of unpaid bills rather than having no bills and a bankruptcy. Why? There’s […]
San Antonio is a military-town, so I have lots of people coming in to file bankruptcy in order to save their security clearance. Sure, bankruptcy can easily solve debt problems, but I wasn’t sure how or why it protected a security clearance. So I asked some questions of several of the ones that wanted to […]
The bankruptcy court looks at all of your household income and household expenses to determine if you qualify for bankruptcy. You can certainly file a bankruptcy without your spouse, but the court still looks at household income and household expenses. This is where it gets dicey in the consultation – the client wants to file […]
This is tax refund season, and you may need to use that money to repay a family member that covered some expenses for you this past year. If you think that there’s a chance that you may need to file bankruptcy in the next 365 days, then DO NOT repay a family member with your […]
The Supreme Court ruled in June that inherited individual retirement accounts (IRA) are not protected under federal bankruptcy laws. If someone has their own IRA, this cannot be lost to banks and other debtors, but any inherited IRA accounts left to children or other heirs are not protected in federal bankruptcy. Should a bankruptcy case […]
While Detroit is the most well-known city to be affected by bankruptcy, the California city of Stockton has been attempting to get out of bankruptcy as well. A California judge has made a ruling which mirrors a similar decision made by a judge in Detroit, determining that pensions can be cut in order for a […]
Comcast, the largest cable and broadband provider in the world, is appealing a decision made by a bankruptcy court that would allow the company to emerge from Chapter 11 bankruptcy without repaying a $100 million loan. The company seeks to keep control of a sports network that would be sold to two other cable and […]
Getting Credit Card Debt Discharged Through Bankruptcy Credit card debt is a type of unsecured debt, meaning that there is no collateral attached to it. Unlike auto loan providers and mortgage lenders, credit card companies cannot repossess any of the debtor’s property due to lack of payment. Unsecured debt is considered the lowest-priority debt when […]
Call a San Antonio bankruptcy attorney for assistance! Some debtors need to expedite the bankruptcy filing process so that they can get an automatic stay established sooner rather than later. An automatic stay, which begins as soon as the bankruptcy paperwork is filed, puts an immediate stop to creditors’ collection efforts and actions. There may […]
Assistance from a San Antonio Bankruptcy Lawyer Before you file for Chapter 7 bankruptcy, it is important for you to be aware of what the bankruptcy exemptions are for your state. These exemptions tell you which of your assets (and to what value) are protected, or “exempt,” from liquidation under bankruptcy law. Liquidation occurs when […]
Here’s the “Easy” button: For the typical person that I see in a debt consultation, the determining factors for qualification for a Chapter 7 bankruptcy are the person’s income and expenses. Keep in mind, it’s like looking at an elephant…
One factor in determining if you qualify for Chapter 7 is to compare your previous six months of income to median income for people in Texas, based on the household size. Although you can be above median income and still…
Most people that file bankruptcy file under Chapter 7, which is the form of bankruptcy where there is no monthly payment to a trustee. Chapter 7 has numerous advantages over Chapter 13. Here are the key advantages: Chapter 7 Bankruptcy…
