Posted on March 26, 2025 in Chapter 7 Bankruptcy

Education is often a key to success in today’s world, not to mention a worthy goal on its own. Education – and particularly higher education – can be expensive, however. With the cost of the average college tuition at private universities at just over $40,000, education will, for most people, require taking on significant debt.

When unexpected events in life make that debt unmanageable, some may consider filing for bankruptcy. They may wonder whether it is possible to discharge student loans in bankruptcy. An experienced Texas Chapter 7 bankruptcy attorney can provide advice on whether bankruptcy is the right option to discharge student loan debt. 

What Happens to Student Loan Debt in Chapter 7 Bankruptcy?

In a Chapter 7 bankruptcy, also called "liquidation" bankruptcy, most of your credit card or medical debt can be discharged. Student loans are treated differently in Chapter 7, however, Although it is possible to discharge student debts, you will usually have to show that paying back that debt would cause you significant hardship. 

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 Posted on March 15, 2025 in Bankruptcy

Most people are intensely private about their financial situations. Deciding to file for bankruptcy is often accompanied by negative feelings, including shame. Although filing may be your best option for debt relief, you may not want your family and friends to know.

Bankruptcies are filed in federal courts, and most become public records. However, do not let that fact keep you from exploring the potential advantages that filing for bankruptcy could provide. Accessing bankruptcy records requires specific steps that most people do not have reason to take. When an experienced Houston, TX bankruptcy attorney helps with your case, you can trust that our interactions remain confidential.

How Can Bankruptcy Records Be Accessed?

With few exceptions, papers filed in a bankruptcy case are open to the public. For someone to access your bankruptcy records, he or she may have different reasons. You may want to check on your case’s current status, or a potential landlord or employer may need to run a background check. The U.S. government allows online access to electronic public records, which include bankruptcies. The PACER system requires you to create an account, and you will be charged a nominal fee when you access data through the site.

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 Posted on March 08, 2025 in Creditor Harassment

When a creditor garnishes your wages they take a portion of your paycheck even before it is deposited into your bank account to be used towards repayment of your debt. Wage garnishment can be personally and financially devastating, making it more difficult to pay bills on time and potentially adding to your debt. The very good news is that in Texas wages cannot be garnished except to pay very limited types of debts, and these do not include credit card debt. Read on to find out how an experienced Brazoria, TX wage garnishment relief attorney can help you with wage garnishment.

What Types of Debts Can a Creditor Garnish in Texas?

Texas law does not allow wage garnishment except for child support payments and alimony debt. The other types of debt that can be garnished in Texas are federal income tax debt and federal student loans.

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 Posted on February 28, 2025 in Chapter 11 Bankruptcy

Chapter 11 bankruptcy is known as the "reorganization" bankruptcy that allows filers to reorganize their debt. It is usually utilized by businesses wishing to file bankruptcy while continuing to operate their companies.

Yet Chapter 11 bankruptcy is not just for businesses. Individuals may also qualify to file for Chapter 11 bankruptcy, and in some cases may have to file for Chapter 11 if they do not qualify for Chapter 13. An experienced Houston, TX Chapter 11 bankruptcy attorney can answer your questions about whether filing for Chapter 11 bankruptcy as an individual is the right choice for you. 

How Does Chapter 11 Bankruptcy For Individuals Work?

Eligibility

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 Posted on February 20, 2025 in Bankruptcy

Filing for bankruptcy is a complex and personal decision. One of the factors influencing the decision to file for bankruptcy may be concern about the bankruptcy process itself. After all, bankruptcy is a complex legal process. If you are wondering whether bankruptcy is right for you, you may have questions about the role of the bankruptcy attorney. Speak to an experienced Liberty County, TX bankruptcy attorney who can explain the role of the bankruptcy attorney.

Help You Decide Which Type of Bankruptcy to File

One of the key roles of a bankruptcy attorney is to provide legal advice based on your specific situation as it applies to bankruptcy law. Your bankruptcy attorney will explain the bankruptcy process to you and answer any questions you may have. Your attorney will, for example:  

• Advise you on the benefits of filing Chapter 7 versus Chapter 13 bankruptcy, and which type is right for you.

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 Posted on February 14, 2025 in Bankruptcy

Businesses facing financial distress and considering bankruptcy may file Chapter 7 bankruptcy. Another option for many businesses is Chapter 11 bankruptcy, which is commonly known as the "business bankruptcy" because it is primarily meant for businesses. It is also referred to as the "reorganization" bankruptcy because it allows businesses to reorganize their debts while staying in business.

As of 2019 Congress and the Small Business Reorganization Act (SBRA) created a third option for businesses called Chapter 11 Subchapter V, which offers a more affordable and simplified method that can be especially attractive for small businesses. An experienced Texas bankruptcy attorney advises businesses on the pros and cons of the relevant bankruptcy chapters available to businesses in financial trouble.

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 Posted on February 07, 2025 in Chapter 7 Bankruptcy

Two of the most used terms in bankruptcy are secured debt and unsecured debt. These types of debts are treated differently in Chapter 7 bankruptcy. Understanding what these terms mean and what happens to secured versus unsecured debt in Chapter 7 can give you an idea of what may happen to your debts when you file for Chapter 7 as far as whether they will be discharged or whether your obligations to pay will continue. An experienced Houston, TX bankruptcy attorney can advise you on how your debts are likely to be treated in Chapter 7 bankruptcy.

How Does Chapter 7 Bankruptcy Work?

In Chapter 7 bankruptcy, the bankruptcy trustee will take all your assets that are not exempt (exempt assets usually include your home and car in Texas), sell them, and distribute the proceeds to your creditors. This will discharge or wipe out most of your debts (with some exceptions such as child support and tax debts).

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 Posted on January 30, 2025 in Bankruptcy

For people unfamiliar with the bankruptcy process, it may seem complex and unapproachable. Yet it is possible to understand how bankruptcy will affect you and how you can protect yourself. One thing to keep in mind is that in bankruptcy creditors will seek to recover the debt you owe them within the bankruptcy framework. The process by which creditors do so begins by filing what is called a "proof of claim." 

Much like it sounds, a proof of claim lays out the proof for the claim that the creditor wants to recover from the bankruptcy estate. It is possible to object to a creditor claim depending on the facts of your case, and an experienced Galveston, TX bankruptcy attorney can object to creditor claims on your behalf. 

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 Posted on January 22, 2025 in Bankruptcy

For all that bankruptcy can be an effective way to move past financial difficulties, people hold many myths and misconceptions about bankruptcy. Still, it is understandable to be concerned when considering bankruptcy. After all, for most people bankruptcy is a new process and can seem intimidating and complex.

The best way to move past these misconceptions is to research information about bankruptcy and to speak to an experienced Houston, TX bankruptcy attorney about what bankruptcy could actually mean for you — and how it can help you get out from under serious debt.

Myth 1: Bankruptcy Will Permanently Ruin Your Credit

This is one of the biggest and most common myths about bankruptcy. Although a bankruptcy filing can negatively affect credit, and although it stays on a credit report for up to 10 years, that is not the end of the story. Often, people will see their credit actually improve following their bankruptcy filing, especially if they started out with low credit. Additionally, because bankruptcy gives people a financial fresh start, it can make it easier to keep up with payments, which can help increase credit scores.

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 Posted on January 15, 2025 in Chapter 13 Bankruptcy

In Chapter 13 bankruptcy, debts are discharged after you pay off your bankruptcy plan. In most cases, debtors in Chapter 13 have three to five years to pay off the plan, after which time the Chapter 13 discharge occurs.

What happens if a debtor wants to pay off the Chapter 13 early? Can they do that? Although paying off Chapter 13 early is possible, it is not easy. Contact an experienced Houston, TX Chapter 13 bankruptcy attorney to discuss the possibility of obtaining an early discharge in Chapter 13.  

How Does Chapter 13 Bankruptcy Work?

When you file Chapter 13 bankruptcy, you keep all your property and make a repayment plan to pay off part or all of your debt with monthly payments during the payment plan period, which lasts from three to five years.

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