While bankruptcy in Austin, Texas helps consumers with debts there are still some negative myths surrounding the process. In most cases, these myths are based on some truths that are distorted with false ideas. Consumers won't be able to get credit again Credit scores...
Bankruptcy
The differences between Chapter 7 and Chapter 13 bankruptcy
Bankruptcy in Austin, Texas is a legal way for consumers to remove unsecured debts. Consumers may choose several types of bankruptcy, but they often file Chapter 7 and Chapter 13. However, Chapter 7 and Chapter 13 have their own differences and benefits. Chapter 7...
What to know about the automatic stay in bankruptcy
Bankruptcy is a legal process that can help consumers in Austin, Texas, get certain debts discharged though liquidation or repayment. Falling behind on debt usually means getting calls from creditors; if the consumer gets calls from creditors, the automatic stay in...
Managing debt after the holidays
The holidays are often a time when people spend hundreds of dollars on gifts for family members and friends. It is also a time when you may spend a significant amount of money on holiday parties at your Texas home or apartment. Although you may consider holiday...
How long does bankruptcy take?
If you are struggling with debt you cannot afford and are thinking about filing for Chapter 7 or Chapter 13 bankruptcy, you probably have a lot of questions about how bankruptcy would affect your day-to-day life. For example, you may be wondering how long it takes to...
Common myths about bankruptcy
Texans who are experiencing financial difficulties might feel as if the weight of the world is on their shoulders. They could be fearful of the prospect of bankruptcy due to misconceptions about it. Before dismissing the idea of filing for personal bankruptcy, it can...
UCC guidelines and commercial debt collection
When commercial entities do not pay on debts they owe, creditors may take steps to collect payment in other ways. One reasonable course of action for some creditors is to file UCC-Uniform Commercial Code-1. This is a legal statement that outlines a creditor’s intent...
You’re financially underwater: Could Chapter 7 bankruptcy be your lifeline?
Many individuals and families in Texas and across the country firmly believe that filing for bankruptcy to secure debt relief is a process to be avoided. One Texas legal source on bankruptcy and its effectiveness in resolving deep debt woes prominently notes their...
Can bankruptcy help you protect your home?
When you struggle with debt, you may wonder if you will lose everything to set your finances right. This is especially true for people who have invested in their family home. While you may be concerned about losing your home, the bankruptcy process may actually allow...
Don’t let fear of bankruptcy keep you from a fresh start
This year has been challenging for many people's finances. The Federal Reserve Bank estimates that 17 million American households – roughly 14% - are deeply in debt, but fewer than 1% file for bankruptcy each year. Economists say thousands more could benefit from...