Stay up to date with the latest news in bankruptcy law, financial regulations, and more.

How Does Bankruptcy Affect Your Credit Score

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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...

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Can Your Student Loans be Discharged in Bankruptcy?

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The whole purpose behind filing for Chapter 7 bankruptcy is to get some relief and discharge from your creditors. While this is a helpful process in many areas, people always ask whether they can get the same relief from being discharged from their student loans. This is where it gets tricky. Bankruptcy can be simple at times, but even the best student loan lawyer may not be able to help you get completely discharged from your student loans. There are several things you must prove, which isn’t as easy to convince the courts as you may think. What You Must Prove to...

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Honesty is the Best Policy in Bankruptcy

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You’ve likely heard the statement “honesty is the best policy” in many aspects of life, and it’s also true when filing for Chapter 7 bankruptcy. The courts, and your Texas bankruptcy lawyers, trust you’re giving them accurate information, so their role is to verify the accuracy. As long as there are no glaring issues with your claims, then you could be in for a fresh start as a result of filing for bankruptcy. Get A Fresh Start With Bankruptcy Getting a fresh start after filing for Chapter 7 bankruptcy simply means you’ll get immediate relief from your creditors, and a discharge from...

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When’s the Right Time to File for Bankruptcy

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There are many reasons why you may think filing for Chapter 7 bankruptcy is the best option. The bills may be piling up or you may have accrued a significant amount of credit card debt that seems impossible to get out of. Bankruptcy shouldn’t be your first option to get out of this debt, but sometimes it is the best option. The tricky part is knowing when to file. Speaking with a Fort Worth bankruptcy attorney can help make sure the time is right, but you can also take the following points into consideration. When You Can’t Keep Up With Bills You...

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Does Bankruptcy Affect Inheritance?

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One of the trickiest parts of filing for bankruptcy is when you receive a monetary inheritance, or inherit some sort of asset. You definitely can’t hide the inheritance from the court, but you also may want to keep the asset. The best thing to do first is look for the best bankruptcy attorneys in Ft. Worth or Houston for advice. Whether you wish to keep your inheritance or don’t want anything to do with it, your attorney will tell you exactly how it affects your bankruptcy case. The 180-Day Rule If you become entitled to an inheritance within 180 days after filing...

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