If you are facing financial difficulties and considering filing for bankruptcy, you may be wondering how to navigate the Dallas bankruptcy court system. In this blog post, I will share some tips and resources that can help you understand the process and make informed decisions. First, you need to determine which type of bankruptcy is …
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Many people wonder if the IRS will forgive their tax debt after 10 years. The answer is not so simple, but there is some truth to this idea. In this blog post, we will explain what the IRS 10-year rule is, how it works, and what you can do to avoid or reduce your tax …
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Filing for bankruptcy can be a difficult and stressful decision, but it does not have to mean the end of your financial future. There are steps you can take before and after filing for bankruptcy to budget and manage your finances effectively and rebuild your credit. Here are some tips to help you on your …
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The hardest part for any person considering bankruptcy is gathering the required documents. In order to file bankruptcy, the Court requires that you file about 100 pages describing your financial situation. The Clients that have the most success are the ones that are able to get their documents together the fastest. The documents you will …
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The means test is one of the most important forms you can file in bankruptcy. It takes your last 6 months of income and your expenses and determines what type of bankruptcy you will qualify for and what your monthly bankruptcy payments might be (in a chapter 13). 1. Chapter 7 Means Test In order …
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The idea of filing bankruptcy can be stressful. It’s usually the last resort but bankruptcy can help transform a person’s financial life. The entire purpose of bankruptcy is to get a fresh start. Often times people are in what I call financial prison. They are like that hamster on a wheel running and running but …
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Are you overwhelmed by debt and considering filing bankruptcy in Dallas, Texas? It can be a difficult decision that can provide relief and the ability to start fresh financially. That being said, knowing what strategies work best when filing for bankruptcy is essential to maximize your options while still getting the financial freedom you seek. …
The short answer is — it depends. In a lot of cases, a person can get rid of their IRS debt through the bankruptcy process. Some IRS Debt is eligible for a bankruptcy discharge. The general rule is if the IRS debt is over 3 years old, then it can be eligible to be discharged, …
Can you purchase a home after your bankruptcy is over? The short answer is ABSOLUTELY! I have had hundreds of clients successfully purchase homes after they received their bankruptcy discharge. The bankruptcy discharge is what you receive once you have completed your bankruptcy. If you filed a chapter 7 bankruptcy and received a discharge, you …
Chapter 7 and 13 Under a Chapter 7 filing your credit report will show the bankruptcy you filed for up to 10 years. Under a Chapter 13 your credit report will show the bankruptcy for up to 7 years. The limits listed above are the maximum amount of years allowed for a bankruptcy to show …
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Herrin Law, PLLC,
4925 Greenville Ave.,
Suite 455
Dallas, Texas 75206
469-607-8552
