Bankruptcy is a legal option very few individuals and businesses consider, in large part due on the numerous myths and legends surrounding the bankruptcy process. While there are alternatives to bankruptcy, there are also certain warning signs and indications that may make it clear that bankruptcy could be a viable option for you and your […]
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…
