People in Texas who have filed for bankruptcy should know which steps to take to rebuild their credit score. According to NerdWallet, a bankruptcy will stay on someone’s credit score for up to 10 years. This, of course, adversely affects the consumer’s score. However, rebuilding that score is not impossible…

In the recent case of In re Ragos, the U.S. Fifth Circuit Court of Appeals upheld the bankruptcy court’s ruling that Social Security benefits can be excluded when calculating disposable income and projected disposable income available to creditors in a Chapter 13 plan. Bankruptcy protection under Chapter 13 is available to individuals with regular income whose…

Qualifying For Bankruptcy In Texas Contrary to popular belief, debt relief is not simply meant for the poor. In the United States, bankruptcy protection has been utilized by wealthy individuals, movie stars, legendary musicians, large corporations, smaller businesses and even city governments. It is available for people from all backgrounds and organizations…

What is a Chapter 7 bankruptcy? A Chapter 7 bankruptcy is the most common type of bankruptcy. It is for individuals and small businesses who are overwhelmed by debt and unable to pay their bills. In a Chapter 7 bankruptcy you may be able to permanently eliminate, or discharge, certain…

A Chapter 13 bankruptcy is also called a wage earner’s plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this Chapter, debtors propose a repayment plan to make installments to creditors over three to five years. If the debtor’s…

Congratulations! You have taken the first step towards a debt free life by deciding to file bankruptcy. You need to consult with an experienced Waco bankruptcy attorney to help you moving forward, but here are some basic do’s and don’ts to get you ready to file bankruptcy. These do’s and…

In the majority of cases, it’s impossible to eliminate student loans by entering into bankruptcy. Bankruptcy does not discharge things such as governmental loans, taxes or other court-ordered payments. What it can discharge is unsecured debts like credit debt or personal loans in some cases. Since bankruptcy is unlikely to…

Turning to bankruptcy to address debts that you can’t pay is a huge step in your life. When you file, you likely realize that this is the best option. Eventually, it will make your financial life easier, but in the interim, you will need to make some adjustments to how…

Many working people are only a serious illness or car accident away from serious financial issues. The American economy depends in no small part on consumer debt. People often make major purchases on store credit or credit cards. So long as you can maintain those monthly payments, credit is a…

Mountains of medical debt can bury even successful young professionals who are on fast-track career paths to success. Such was the case for a former Texas resident and her cancer-stricken spouse. Back in 2007, she was working as an art director for a Houston television production company. Her fiancé was…