Nobody wants to file bankruptcy, but many people find themselves in a situation where it is the best (and often the only) option for them to get back on the right financial path. The first step in determining any financial plan is creating a realistic monthly budget. A monthly budget helps you identify your monthly […]
How Do I Know If Bankruptcy Is The Right Choice For Me?
Nobody wants to file bankruptcy, but many people find themselves in a situation where it is the best (and often the only) option for them to get back on the right financial path. The first step in determining any financial plan is creating a realistic monthly budget. A monthly budget helps you identify your monthly […]
Can I Keep My House and Car?
In most cases, you do not lose any of your possessions when you file bankruptcy, including your house or car. In fact, a Chapter 13 bankruptcy is designed to help save assets such as your house or car if you are facing foreclosure or repossession. As you did prior to filing bankruptcy, you continue to […]
Medical Bankruptcies
What is Medical Bankruptcy and How Does It Work? The Bankruptcy Code does not cover medical bankruptcy. Therefore, the federal government does not provide it as a particular kind of bankruptcy relief. Instead, medical bankruptcy is the phrase used to characterize bankruptcy brought on by medical debt. Astronomically expensive medical expenses burden many Americans as […]
Can I File Bankruptcy Without An Attorney?
You are not required to hire a bankruptcy lawyer to file your bankruptcy petition for you. You may file your case yourself in what is called “pro se” representation. Pro se representation can be dangerous, and some unfortunate pro se cases end with devastating results because of mistakes made trying to understand the complex bankruptcy […]
The Differences Between Chapter 7 and Chapter 13
Chapter 7 vs. Chapter 13: The biggest difference between Chapters 7 & 13 bankruptcies is the repayment of your debt. Chapter 13 bankruptcy involves a court-ordered repayment plan where a portion of your debt back is repaid to your creditors. In a Chapter 7 bankruptcy, there is no repayment plan and certain debts can simply […]
Texas Bankruptcy Courts
Although bankruptcy is federal law, the bankruptcy courts in each jurisdiction have local rules that must be followed. A local bankruptcy attorney will be familiar with the specific rules in your area. TEXAS BANKRUPTCY DISTRICTS Northern District of Texas Bankrutpcy Court Locations Amarillo Abilene Dallas Fort Worth Lubbock San Angelo Wichita Falls Eastern District of […]
Texas Bankruptcy Credit Counseling/Debtor Education (Required)
Pre-filing Bankruptcy Credit Counseling Briefing To file bankruptcy in Texas, the law requires that you complete a U.S. Trustee-approved credit counseling briefing. A certificate verifying your completion of this course must be filed with your bankruptcy petition. The credit counseling courses are generally a question and answer sessions with a non-profit credit counseling agency. The […]
Texas Bankruptcy Statistics
2006 TEXAS BANKRUPTCY FILING STATISTICS Circuit and District Chapter 7 Chapter 11 Chapter 13 Total Non-Business Filings Texas, Northern District 4,395 8 7,845 12,248 Texas, Eastern District 2,154 3 2,241 4,398 Texas, Southern District 4,031 28 6,389 10,448 Texas, Western District 3,529 7 3,920 7,456 Total 14,109 46 20,395 34,550 Source: U.S. Government Court Statistics […]
Texas Bankruptcy Vote
Following years of intense lobbying by creditors, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). How did your Senators vote on these largely pro-creditor provisions? Cornyn (R-TX) – YEA Hutchison (R-TX) – YEA