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Posts tagged "Chapter 7 bankruptcy"

Drowning in medical debt? There is another option.

If you had surgery, needed medical care after an accident or just recovered from a serious illness, you are likely facing serious medical bills. Even with insurance, the cost of medical care is exorbitantly high, and the accumulation of your bills could quickly outpace your ability to pay.

Drowning in medical debt? There is another option.

If you had surgery, needed medical care after an accident or just recovered from a serious illness, you are likely facing serious medical bills. Even with insurance, the cost of medical care is exorbitantly high, and the accumulation of your bills could quickly outpace your ability to pay.

What personal debt relief options are available to me?

Are you one of the many Texas residents struggling to meet their debt obligations? It is okay. It happens. If you are in a financial pickle, you may want to know what debt relief options are available to you. The truth is, there may be a few options, depending on the specifics of your situation.

What are the short-term pitfalls of Chapter 7 proceedings?


Chapter 7 bankruptcy proceedings, popularly known as liquidation proceedings, are often the hardest financial decision a Texas resident could make. Filing for bankruptcy under liquidation proceeding often leads to losing some of the most important financial assets for the debtor. It can also be a major blow to one's self confidence and self-esteem.

Does personal bankruptcy affect eligibility for an FHA mortgage?

A major concern that many people in the Tyler area may have when they are planning to file for personal bankruptcy is how the filing will affect the debtor's eligibility for loans and mortgages in the future. While it is true that a bankruptcy filing remains on a person's record for 10 years, it does not necessarily affect the person's eligibility for loans and mortgages as long as the person is able to rebuild and maintain healthy credit after obtaining the bankruptcy discharge.

Is Chapter 7 bankruptcy too expensive?


Many Smith County residents may be aware that in 2005, federal lawmakers made certain changes to the U.S. Bankruptcy Code. Those changes were included in the Bankruptcy Abuse Prevention and Consumer Protection Act. The purpose of the act was to discourage people from abusing the option of bankruptcy. One of the most significant changes was an increase in filing fees. Some critics have said the increase in fees has created a big problem.

Which documents are required to file Chapter 7 bankruptcy?


Due to the recent economic problems and the slow rate of economic recovery, people from all over the country, and even here in Texas, may find it difficult to reorganize their finances and get their lives back on track. Financial pressure may culminate in different kinds of debt like rent, unpaid credit card bills and loan repayments. In order to give people a second chance at recovery, avoid creditor harassment and protect their assets, Chapter 7 bankruptcy can be a viable solution.

Fresh financial start requires a Texas bankruptcy attorney's help


Residents of Tyler, Texas, would agree that no person intends to miss payments on the house, car or other items by choice. However, circumstances, such as sudden medical expenses, sudden job loss or a significant cut in salary, may lead to a difficult financial situation and can result in missing payments.

What is the process for filing for Chapter 7 bankruptcy?


Under Texas law, Federal Rules of Bankruptcy Procedure often quoted as the bankruptcy rules govern the statutory requirements in filing for bankruptcy procedures. Dedicated courts are made in the state in order to cater to such bankruptcy proceedings.

How can Chapter 7 help Texas debtors?


There are many reasons why Texas residents may encounter hard times financially. Medical bills, the costs associated with the loss of a loved one, credit card debt, and many other causes can bring financial ruin to individuals and families. Those who may have found themselves buried in debt may want to consider filing for bankruptcy. Chapter 7 of the bankruptcy code has certain unique advantages, and when a debtor has qualified for Chapter 7 through a means test, several doors may open up, which can help an individual with the heavy burden of debt.

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