Unexpected life challenges such as the loss of a job or medical expenses can result in debt that only adds stress to the lives of individuals who may already be struggling. Relief from debt and a fresh financial start can be available through bankruptcy options. There are two primary personal bankruptcy options to consider including Chapter 7 liquidation bankruptcy and Chapter 13 reorganization bankruptcy.
Bankruptcy's automatic stay: what it can and cannot do (Part 1)
When Tyler residents file for bankruptcy - whether Chapter 7, Chapter 13 or another form of protection - they gain the immediate benefit of the automatic stay. The automatic stay halts efforts to collect on your debt while the bankruptcy proceeds through the court. This is a powerful tool for consumers, but it's important to understand the limitations of the automatic stay as well as creditors' rights with regards to the automatic stay.
Chapter 7 can help eliminate debt that you did not sign up for
Public school teachers in Tyler, like their colleagues throughout the country, are accustomed to earning a modest salary. In many cases, salaries would rightly be called "low," especially for those working in schools in low-income areas.
