The number one reason why most people never consider bankruptcy is because they think it will destroy their credit and their ability to get credit in the future. But this isn’t true. Bankruptcy is a legal way for you to responsibly address your financial situation. Most people see a significant increase in their credit score …
How Does Chapter 7 and 13 Bankruptcy Affect My Credit? Read More »
Overview: Many of us have been through the daily exercise of screening our phone calls because we don’t recognize the phone number, and are 99% sure it’s either a solicitation or a creditor calling. Why would you answer a call from someone you don’t know, that you do know is going to want something from …
What To Do When Creditors Call Before, During, and After Bankruptcy Read More »
Many clients ask whether filing bankruptcy is a good fit for their small business. They’re worried about creditors coming after them individually or concerned about the risks of filing for their business in general. Below we are going to cover the some of the basics you’ll need to know before filing for bankruptcy with your …
Filing Bankruptcy requires you to file a Petition with the US Bankruptcy Court in your city/county. This can be done electronically. The moment the petition is filed, you will receive a bankruptcy case number and will be afforded the protections of bankruptcy. However, BEFORE YOU CAN FILE YOU MUST COMPLETE A CREDIT COUNSELING COURSE. There …
The whole point of filing bankruptcy is to get you a fresh start, which includes increasing your credit score. Almost all of my clients see a credit score increase post bankruptcy filing. The reason for this is simple: they drastically reduced their amount of debt. I tell most of my clients that filing bankruptcy and …
The reason debt collectors file lawsuits is because they work. Nothing scares a person more than getting served with a lawsuit. There is this fear that if they don’t do anything they could get into serious trouble. Some people falsely believe that they could go to jail or face criminal charges because of the lawsuit. …
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 »
The most important choice for you to make is picking the right lawyer. The difference between a good lawyer and a bad lawyer could be the difference between you completing a bankruptcy and getting a fresh start or your bankruptcy failing and you ending up in a worse situation. The good news is that it’s …
What To Consider When Hiring a Bankruptcy Lawyer in Dallas Read More »
There are two required financial courses in Bankruptcy. The first course is taken before you file bankruptcy and the second course is taken after you have filed the bankruptcy. The First Class – Pre-Filing Bankruptcy Credit Counseling This class is intended to help you prepare for bankruptcy. It goes over several budget/finance related questions to …
A common question I always receive from debtors is “do I have to do anything different when I file my tax returns?” The short answer is no. This article will address the actions a debtor must take in order to properly file a tax return with the Internal Revenue Service and have no negative impacts …
I FILED BANKRUPTCY THIS YEAR … DO I NEED TO FILE A TAX RETURN Read More »
