Erase Tax Debts by Filing for Bankruptcy

Tax attorney

When filing for bankruptcy in Texas, the most difficult type of debt to erase is tax debt. However, even though the common misconception is it’s impossible to wipe away your back taxes, you actually may be able to reduce a significant amount of debt. Dealing with the IRS is tricky and requires a tax attorney to be on your side. There are many different factors that go into erasing tax debt, and you must follow certain requirements to even be in consideration. Here are the main things you need to know about erasing tax debt through filing for bankruptcy. Basic Requirements to...

Continue reading

The Difference Between Chapter 7 and 13 Bankruptcy

bankruptcy in Texas

Determining when bankruptcy is your best option for your financial situation can be tough. But when you meet the realization, you need to decide whether filing for Chapter 7 or Chapter 13 bankruptcy will benefit you the most. These are the two most popular types of bankruptcy filed in the United States and the state of Texas, and there are some important differences to consider with each. Chapter 7 Bankruptcy Filing for Chapter 7 bankruptcy could provide you complete relief of all your debts. A quick way to determine whether you qualify is to speak with the best bankruptcy attorneys in Houston...

Continue reading

How Does Bankruptcy Affect Your Credit Score

The primary issue that discourages quite a few individuals from filing for bankruptcy is the negative effect it can have on a credit score. It is true bankruptcy in Texas can remain on your credit report for up to 10 years, which can seriously impact your credit rating. However, if you don’t file for bankruptcy and allow your debts to go into collections, this will also impact your credit negatively. Chapter 7 or Chapter 13? The type of bankruptcy that you file, Chapter 7 or Chapter 13, is going to determine how much it affects your credit rating. You can discuss the...

Continue reading

Five Steps to Find the Right Bankruptcy Lawyer

If you have made the decision to hire bankruptcy lawyers in Ft. Worth or Houston, it is important for you to select the right attorney for the job. However, since no two attorneys are created equal, it is a good idea to consider a few factors first. Finding the right person to help you with the process will ensure your efforts are successful and as stress-free as possible. Seek Recommendations from Friends and Family Members There are quite a few bankruptcy lawyers and many obtain new clients through referrals from other debtors they have represented in the past. If you have any...

Continue reading

Are You Eligible to File Under Chapter 7 Bankruptcy?

Today, there are a large number of people who have found themselves in financial hardship. If you are one of these people, then you may discover filing for Chapter 7 bankruptcy is the best option for your particular situation. Chapter 7 bankruptcy is one option that is authorized by federal law and often referred to as a liquidation bankruptcy. It's called this because unlike in a Chapter 13 bankruptcy filing, there is no type of repayment plan established. Instead, the assets that are not protected by law will be collected by a trustee and then they will be sold to pay part...

Continue reading