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Our latest articles.

Overview of Chapter 7 Bankruptcy

Chapter 7 Bankruptcy is the most well-known and widely used from of Bankruptcy.  Chapter 7 accounts for about 70% of cases that are filed.  Most cases are relatively quick and painless with the Debtor receiving a discharge within about 3 months of filing allowing them to get a fresh start.  Most Chapter 7 cases are … Read more

Bankruptcy versus Debt Relief

Update:   In November of 2017 the Consumer Federal Protection Bureau sued the largest Debt Settlement company:  Freedom Debt Relief.  Read about that here. Lots of my clients come to me after having tried some type of credit counseling program.  The reaction is always the same — “I should have come to you first.”  The purpose … Read more

Chapter 7 Means Test

What is the Means Test? In 2005 Congress passed Bankruptcy Reform Act aka BAPCA.  A major provision in this act was the means test.  The basic premise of the means test is to only allow people to file Chapter 7 who do not have the “means” to pay back their unsecured creditors.  It’s a very … Read more

Bankruptcy Exemptions: Basics and Pitfalls

Bankruptcy Exemptions: The Basics You are required to list all of your property (assets) when you file a Bankruptcy case.  Your property can then fall into exemptions which allow you to keep that property.  The purpose of the exemptions is to give you a fresh start and not a leg up.  Different states have determined … Read more

How Chapter 13 Stops Foreclosure

Filing for a Chapter 13 Bankruptcy is one of the best ways to permanently stop a foreclosure.  The reason for this is simple:  because the creditors have no choice but to stop the foreclosure once you file and your Bankruptcy allows you to put together a “plan” to stay in the house. The Automatic Stay … Read more

Understanding Texas Bankruptcy Exemptions

“Will I lose it all?” is one of the first questions individuals ask when considering filing for bankruptcy. However, bankruptcy laws allow for protection of certain types and amounts of the debtor’s property. Choosing Federal Or Texas Bankruptcy Exemptions Each state handles bankruptcy exemptions differently. Some states allow debtors to choose between using the federal … Read more

7 Debts That Cannot Be Discharged In A Texas Bankruptcy

For the most part, bankruptcy results in the discharge of debts owed by the person filing the bankruptcy. In a perfect world, the debtor could walk away with a completely clean slate and no debts. However, some simply cannot go away, no matter what type of bankruptcy is being filed. 1. Child Support Or Spousal … Read more