Divorce and the Impact it has on Bankruptcy

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When you truly look at divorce proceedings and the financial impact they have on all parties involved, it’s easy to see why divorce is one of the leading causes of bankruptcy in Texas. When a divorce happens, the two salaries that were previously supporting a single household are now supporting two households and lifestyles. This can be difficult on anyone, and Texas bankruptcy lawyers can help shed light on the specific financial impacts a divorce will have on any individual. Here are some of the general impacts relating to divorce and bankruptcy. Why Divorce is a Common Cause of Bankruptcy Going through...

07 May

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How to Tell When Bankruptcy is Your Best Choice

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in Bankruptcy, Lawsuits

It’s only natural to experience financial challenges of varying degrees at some point in your life. However, some circumstances may lead to you having to look at other options if you can’t seem to get out from under your debt. No one wants to file for bankruptcy in Texas, but sometimes an unexpected medical emergency or other major events can cause serious financial complications. While bankruptcy shouldn’t necessarily be your first choice, it can often be your best choice. Here are some ways to tell when filing for bankruptcy in Texas may be your best option. Using Credit Cards For Necessities People...

09 April

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The Impact Bankruptcy has on Children

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in Bankruptcy

Families who are considering filing for bankruptcy in Texas often think how the decision will impact their children. Of course, there will be some psychological effects on them because of the nature of the situation. But just as importantly, families want to ensure they will still have enough money left to support their children. There are some definite pros and cons when it comes to filing for bankruptcy with children, and Texas bankruptcy lawyers can bring some clarity to every situation. What Happens To Your Child’s Property For the purposes of a bankruptcy proceeding, everything you’ve purchased for your child is considered...

02 April

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The Effect Bankruptcy has on Your Retirement Plan

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in Bankruptcy

Whether you’re already at retirement age or if you’re younger and seriously thinking about retirement, filing for Chapter 7 bankruptcy in Houston may not be your worst option. Individuals have many different things to consider about their retirement accounts, such as whether they are currently using them or not, if distributions are being taken out and more. Most of the time, a creditor isn’t able to take any money out of retirement accounts, but every situation is unique and requires the expertise of a Houston bankruptcy lawyer. Here are a few points to consider when it comes to the effect...

19 March

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Can You File for Bankruptcy More Than Once?

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in Bankruptcy, Lawsuits

One of the benefits of filing for bankruptcy is to begin a new financial path free from the stresses of being under mounds of debt. Every Chapter 7 bankruptcy attorney sees new cases every single day, and each of them are unique. Sometimes the reasons why people have to file for bankruptcy are because of poor financial decisions, but other reasons may include unexpected medical bills, job loss or other factors outside of a person’s control. And just because these events happen once doesn’t mean they won’t happen again. Here’s what you need to know about the possibility of filing...