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Law Office of Gordon Mosley
A Bankruptcy & Consumer law Firm
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Chapter 7 Archives

Understanding Chapter 7 bankruptcy exemptions

Understanding Chapter 7 bankruptcy exemptions can help provide peace of mind for individuals struggling with mounting debt and seeking debt relief. Because Chapter 7 bankruptcy is a liquidation bankruptcy process, an individual considering Chapter 7 bankruptcy should also be familiar with Chapter 7 bankruptcy exemptions and the protections they provide.

Understanding auto loans and how to stop repossession

Owning a car is a necessity for most Tyler residents these days. It's not unusual for families to need more than one car, when parents need to drive to work, take the kids to schools and activities, and run errands at nights and on the weekends. With those cars frequently come auto loans, and when borrowers run into trouble with their loan payments, repossession can result. Let's take a look at some basic auto loan and repossession facts according to the Consumer Financial Protection Bureau.

Credit scores and Chapter 7 bankruptcy

A major factor in any Tyler resident's decision whether or not to file for bankruptcy is the impact it will have on one's credit score. To be sure, bankruptcy does negatively impact a credit score, but it's not the only thing that does -- and it may be worth it in the long run. Let's take a look at how long it takes to improve a credit score, not as specific legal advice, but so that our readers will have a stronger background on credit scores as they weigh their options.

Can creditors stop the discharge of debt in a Chapter 7 filing?

When Tyler residents are struggling with overwhelming debt, the law provides an option from them to obtain a truly fresh financial start. Chapter 7 bankruptcy allows debtors to eliminate many debts that are unsecured (i.e., not associated with property like a mortgage or a car loan). We say that the debt is discharged -- that is, it no longer has to be repaid.

Help with medical debt through bankruptcy options

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.

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.

Interested in eliminating debt from medical expenses?

We've spent some time over the past few weeks on our Tyler bankruptcy law blog discussing medical expenses, including the unexpected kind from out-of-network providers that many people fear even more than a serious illness itself. Even Tyler residents who understand that filing for Chapter 7 bankruptcy can eliminate debt like this may resist out of a fear of the unknown, or a fear of how bankruptcy will change their lives.

Shocked by medical expenses from out-of-network providers?

Texas residents have struggled with a serious, even deadly, flu season in 2017-2018. Sometimes, when an illness like the flu strikes unexpectedly, patients don't have the luxury of scheduling an appointment with their primary care provider. They need to be seen and treated at the nearest possible facility, perhaps even an emergency room.

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Law Office of Gordon Mosley

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Tyler, TX 75703

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