Some people believe that filing for bankruptcy can permanently destroy your creditworthiness. However, this is not true. Your credit scores are not permanent. While a record of the bankruptcy will remain on your credit report (for seven to ten years after the file date), you can start to improve your scores after filing. Pull your…
Texas
How Can I Resolve Unaffordable Medical Bills?
Medical bills are a common reason why people suffer financial hardship. Even if you have a decent health insurance policy, it is still possible to accrue tens of thousands of dollars in medical debt. You may have heard stories of some people with insurance policies receiving bills in the tens of thousands of dollars. These…
Why is it Difficult to Discharge Student Loans in Bankruptcy?
Student loan debt in the US has grown to an astonishing $1.4 trillion dollars. While some people have an easy time making monthly payments on their student loans, others struggle or have defaulted. It is commonly believed it is impossible to file for bankruptcy on student loans. However, it is not impossible, just very difficult…
What Are the Most Common Bankruptcy Fears?
Bankruptcy has a bad reputation in the US as something that will permanently destroy your finances and cost you important assets. However, bankruptcy’s reputation is undeserved. For people who cannot pay back their debts and who are at risk of having their assets seized, bankruptcy can be an extremely useful tool. Attorneys are used to…
Can I Convert My Chapter 13 Bankruptcy to a Chapter 7?
Chapter 13 bankruptcy requires debtors to enter a three to five-year payment plan to pay back their debts. After completing the payment plan, you can keep your most important possessions and remaining unsecured debts are discharged. Depending on the circumstances, there may be benefits for converting your Chapter 13 bankruptcy to a Chapter 7 bankruptcy.…