It is not uncommon for an individual who has considered filing for bankruptcy to wonder how long it will take to rebuild his or her credit score. While a bankruptcy filing will remain on your credit report for approximately 10 years, most people will begin to get credit card offers within a few months of […]
Falling deep into debt can be a difficult situation to overcome. Some people seem as if they have a natural-born ability to manage their finances, while to others is may feel like a concerted effort is required to accomplish even the most basic of financial tasks. I know there are situations that can occur in […]
Bankruptcy can put an immediate end to creditor harassment. It can stop a foreclosure dead is its tracks and save your family home. It can prevent wage garnishments and eliminate specific types of liens. Bankruptcy can prevent your vehicle or other valuable assets from being repossessed. Debts can be completely discharged or restructured through bankruptcy […]
As an individual contemplating filing for bankruptcy, you may be wondering what a discharge is and what types of debts can be discharged through bankruptcy. The bankruptcy discharge releases the debtor from personal liability for certain types of debts. This means that once a debt is “discharged” through bankruptcy, the debtor is no longer legally […]
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…
