Chapter 13 is known as a plan of reorganization which in which you must submit a plan to the Court and to creditors that must be confirmed by the Judge. Chapter 13 is useful for people who are behind on certain secured items, behind on the IRS, or who make too much money to file … Read more
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
Here in the DFW metroplex cases can be filed under two different filing jurisdiction. One is the Northern District of Texas and the other is the Eastern District of Texas. At Collins & Arnove we file all of our cases in the Eastern District of Texas. The Eastern District of Texas allows people who live … Read more
“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