What to Know About Building Your Credit Score After Filing for Bankruptcy

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It goes without saying that filing for bankruptcy in Texas has a significantly negative impact on your credit score. But the good news is by taking proactive steps immediately after filing for bankruptcy, your credit score can slowly start improving. During this time it may be difficult to apply and get approved for credit cards and loans, so working with a Houston bankruptcy lawyer is important to make sure all of your bases are covered. Here’s what you should know about rebuilding your credit score after filing for bankruptcy in Texas. How Long Does Bankruptcy Remain On Your Credit Report? When you...

13 August

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Is There a Way Tax Debt Can be Discharged in Bankruptcy?

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in Bankruptcy, IRS Tax

When you work with bankruptcy lawyers in Houston, one of the first things you may ask has to do with what happens to your tax debt. There is no standard answer, since every situation is unique. However, when you work with the best Texas bankruptcy lawyers, you’ll have a better chance of getting your tax debt discharged, or having your payments reduced at the very least. Some of the main factors that contribute to how much tax relief is available to you include: How old your tax debt is Whether you are filing Chapter 7 or Chapter 13 bankruptcy The...

30 July

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Divorce and the Impact it has on Bankruptcy

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in Bankruptcy

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...

23 July

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How Much of Your Property Will You Lose if You File for Bankruptcy?

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in Bankruptcy

The scariest feeling many people who are filing for bankruptcy in Texas have is losing all of their property. The truth is this is very rarely the case for a few reasons. There are exemptions in place that allow most people to keep their possessions enabling them to live a fairly normal life. In other words, you won’t be homeless if you file for Chapter 7 bankruptcy. A Houston bankruptcy lawyer can explain more to you about your specific situation, but here is some information about what property you can expect to lose and keep if you file for bankruptcy. Most...

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...