If you want to get your financial slate wiped clean, filing for Chapter 7 bankruptcy is one way to do so. However, this option will not be available to all filers. Specifically, those with higher incomes generally do not qualify for filing for bankruptcy under Chapter...
Chapter 7
Chapter 7 bankruptcy: A chance for a fresh financial start
Chapter 7 bankruptcy, often called liquidation bankruptcy, provides a pathway for individuals in Texas to discharge most of their unsecured debts, such as credit card debt, medical bills and personal loans. This form of bankruptcy is designed for individuals who don’t...
How does an automatic stay work in Chapter 7 bankruptcy?
Chapter 7 bankruptcy is an important resource for individuals and businesses facing overwhelming debt. This form of debt relief offers a fresh start for those who can’t afford to repay their debts, even if they were to be offered the opportunity to restructure their...
3 times Chapter 7 filers could face fraud allegations
Chapter 7 bankruptcy can be a fast and relatively straightforward way of overcoming substantial unsecured debt. Individuals with massive credit card debts or medical bills that they cannot pay may choose to file for Chapter 7 bankruptcy as a way of taking control of...
3 challenges that could complicate someone’s Chapter 7 bankruptcy
Chapter 7 bankruptcy is a very useful tool for those with overwhelming debt. Provided that people can qualify to file based on their income, bankruptcy can help them discharge their eligible unsecured debts. The day that they file, they can also temporarily halt...
How long does it take to complete a Chapter 7 bankruptcy?
Individuals with significant personal debt and average or below-average income given their household size may qualify for Chapter 7 bankruptcy. A Chapter 7 filing is one of the fastest and most effective forms of debt relief available. The same day that someone...
3 common reasons why people file for Chapter 7 bankruptcy
In today's uncertain economic climate, many individuals and businesses face financial challenges that can lead to overwhelming debt. When all other options have been exhausted, one option that individuals may consider is filing for Chapter 7 bankruptcy. Chapter 7...
What happens to someone’s credit after a Chapter 7 bankruptcy?
Chapter 7 bankruptcy offers the fastest path to the discharge of someone's unsecured debts. A Chapter 7 filer will not be subject to a repayment plan requirement. A Chapter 7 bankruptcy filing can protect someone from a creditor lawsuit and other aggressive collection...
How much home equity can you protect in Chapter 7 bankruptcy?
Chapter 7 bankruptcy is a relatively fast and aggressive way to handle unsecured debt. In successful cases, people can go from their initial filing to their discharge in a matter of months. However, before the courts will grant the discharge of someone's eligible...
Four reasons to consider filing for Chapter 7 bankruptcy
Do you have debt that’s so heavy it’s affecting your peace of mind? You probably thought about filing for bankruptcy, specifically Chapter 7 bankruptcy. Chapter 7 bankruptcy deals with asset liquidation to tackle debts like medical bills and credit card balances....