When you file bankruptcy, you are required to disclose all of your assets. This includes any inheritance you may receive (even if you have not received it). The most important fact regarding an inheritance is when the person passed away. If you receive the inheritance before filing, then you should discuss with your attorney on …
The idea of bankruptcy is scary. There is a negative stigma associated with it and most people do everything in their power to avoid having to consider it. However, a lot of the fears associated with bankruptcy are unfounded and simply put, are not true. 1. My Credit Will Be Ruined Forever A lot of …
3 Biggest Fears of Filing Bankruptcy (and what to actually do about them) Read More »
Outside of Bankruptcy, Creditors have a lot of power. If they file a lawsuit and obtain a judgment, they can severely impact your life and your finances. The first thing a judgment creditor can do is garnish your bank account. In some situations, depending on where your employer is located, they also may be able …
For most people, considering filing bankruptcy is extremely stressful. You are dealing with creditors calling you, lawsuits being filed against you and your credit score tanking. In addition to that, there is the stigma associated with bankruptcy. Filing bankruptcy for many people feels like they are a complete failure, it’s like they are giving up. …
Chapter 7 First, let’s start with a Chapter 7 Bankruptcy, which is also known as the liquidation chapter. In a Chapter 7 bankruptcy, you want to get rid of your debt in the fastest way possible. A chapter 7 allows you to discharge your unsecured debt in as little as 100 days. In addition, if …
Chapter 7 or Chapter 13 bankruptcy? – Texas Bankruptcy Laws Read More »
The IRS is scary. They can do more than any other creditor in terms of collections. They can put liens on your property, including your homestead. They can garnish your bank account. They can sell your stuff. They can close your business and liquidate it. And if you try to call the IRS, you could …
If you are in a chapter 13 bankruptcy, then your tax refund is likely the only chance you have at trying to get ahead. However, the Chapter 13 Trustee will almost always attempt to take your tax refund while in a chapter 13. If you want to keep your tax refund, there are several things that …
How to Protect Your Tax Refund in a Chapter 13 Bankruptcy Read More »
Introduction Under Chapter 13 bankruptcy, individuals with regular income are granted the opportunity to develop a repayment plan in order to satisfy all or part of the debts for which Creditors hold claims. A Chapter 13 repayment plan will allow a Debtor to make installments to Creditors over a period of three to five years …
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Herrin Law, PLLC,
4925 Greenville Ave.,
Suite 455
Dallas, Texas 75206
469-607-8552
