Chapter 7

Your vehicle is an important tool for daily life. It helps you get to work and allows you to provide support for your family members as well. It is also a valuable asset, and you may worry about the possibility of losing it if you file for personal bankruptcy. A...

Running a small business can be a great way to support yourself and your family, but it also comes with risks. Depending on the kind of business structure you utilized and how well you have separated your personal financial accounts from your business resources, there...

As Tax Day gets closer, you dread finding out how much more money you’re going to owe the IRS in addition to the tax debt you still haven’t paid. A common question that people ask is whether filing for bankruptcy can help them get out from under their tax debt. Some...

Debt can soon spiral out of control. Luckily, there is help available. Or so the TV adverts would have you believe. Debt relief can work. Yet, often all it does is leave you with even more debt and even less chance of paying. If you have debt you cannot afford to pay,...

If you're having difficulty envisioning paying off bills that you have, then you may have decided that bankruptcy is your best option. Many debtors who wish to want to eliminate their debt obligations pursue Chapter 7 bankruptcy because they want to stop collection...

Those who use Chapter 7 bankruptcy are given the chance to liquidate non-exempt assets, pay off creditors with the money and then have the rest of the debt erased. The exact amount that is paid off and erased is different in every case, depending on the level of debt,...

Many people associate losing a job with bankruptcy. It’s easy to see, after all, how fast debt can get out of control if you no longer have a job.  The solution, most people may assume, is to search for another job and regain their stable income, thus avoiding the...

For someone who is struggling with heavy debt, consolidating may be a good idea. Having multiple credit cards, for example, means that the person is making several payments a month and having to pay interest on each card individually. This could mean hundreds more in...

Declaring bankruptcy can be a powerful method in overcoming demanding financial challenges. Medical debts, credit card debts, and unpaid utility bills are just a few of the types of debt that bankruptcy can help applicants take control over. Despite the benefits of...

There are both federal and state exemptions for Chapter 7 bankruptcy. Texas is one of the states that allows someone seeking bankruptcy to choose which category of exemptions they want to use. The federal homestead exemption last adjusted in 2019 allows you to protect...