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Galveston Legal Issues Blog

Important points to know about Chapter 13 bankruptcy

Some people who file for bankruptcy have assets that prevent them from being able to file for Chapter 7 bankruptcy. In some cases, individuals opt for a Chapter 13 bankruptcy so that they can hang on to some assets, which are exempt from the case.

There are many different things that people need to know when they are going to file Chapter 13 bankruptcy. All of these are important because they can impact the suitability of the filing.

Scams that target people listed in foreclosure filings abound

The thought of losing your dream home because of foreclosure can be difficult to stomach. Many people who are in this position will grasp at straws to try to keep their home. The issue with this is that they might end up falling for a foreclosure scam that ends with them facing financial hardships and still losing the home.

Before you decide what to do about your foreclosure, you should learn about ways to spot these scams so that you can avoid them. Essentially, one of the best things you can do is to take the time to investigate any company or program you are considering.

How does Chapter 7 differ from Chapter 13 in bankruptcy?

The decision to file bankruptcy is a big one, but it isn't going to be the last decision you have to make about the situation. Once you know that you need to do something about your finances and determine that bankruptcy is the answer, you will have to decide what type of bankruptcy to seek.

The type of bankruptcy you file has several impacts on what will happen from there. Typically, the two options that you will have as a consumer are Chapter 7 or Chapter 13. Here are some of the notable differences between the two:

5 ways filing bankruptcy can help you

When debt is overwhelming, the situation might make you feel like you don't have anywhere to turn. Most people who are drowning in debt do have the option to file for bankruptcy.

While bankruptcy is something that some people see as the easy way out, this isn't the case. Bankruptcy isn't defeat. It is simply realizing that you simply can't overcome your current financial situation and taking action to start anew. If you are thinking about filing for bankruptcy, make sure you remember these benefits.

5 ways to reduce medical debts fast after surgery

You've just been through surgery, but it's not the pain bothering you. Instead, you're starting to wonder how you're going to pay for it. Surgeries are expensive, and your surgery was complicated. Even though you're young and have time to heal and recover, the bills could loom over you for a long time. Don't fret, though. There are ways to reduce medical debt before you even begin to repay them.

Small business owners: It's time to get serious about your taxes

You'd be surprised how many small business owners didn't pay a penny of their taxes last year. That doesn't mean they don't owe taxes. It just means they put off payment, or didn't have enough money because their businesses were so unprofitable.

Maybe you have a mobile dog trimming business and you cut the hair of a lot of poodles in 2016, but you were a few hundred poodles short of making it out of the red. Regardless your reason for getting behind, the IRS will not be lenient if it discovers you skipped paying your due. IRS garnishment and other serious consequences can happen to anyone who is in tax debt.

Don't do these 5 things before filing for bankruptcy

Filing for bankruptcy isn't just something that you decide to do one day and then -- POOF -- your debts are gone. In order to achieve the best outcome in a bankruptcy case, you should start preparing weeks, months or even years ahead of time.

Part of being prepared means knowing what NOT to do. Here are five of the most common mistakes people make before filing for Chapter 7 or Chapter 13 bankruptcy:

What you should know about meeting with a bankruptcy lawyer

Many of our clients say that they think about contacting us for weeks, months or even years before finally picking up the phone or filling out our contact form online. That's because meeting with a bankruptcy lawyer can feel very intimidating. However, it doesn't have to be.

Here are a few things that you should know about meeting with a bankruptcy lawyer for the first time, which will probably put your mind at ease.

1. You don't have to be ready to decide if bankruptcy is right for you.

When you call a bankruptcy lawyer, you don't have to have your mind made up that you are going to file. In fact, you should wait until you talk to a lawyer about your options before you make a decision.

The lawyer you speak with can give you more information about what the legal process is like, and then he or she can give you advice about if it makes sense for your situation.

Is Bankruptcy Worth It?

One of the major concerns for people facing the possibility of bankruptcy is the cost of actually filing for bankruptcy and paying an attorney for this process. As they are overwhelmed by piling debt and creditors calling, the thought of paying an attorney only contributes to the stress.

When you fully understand the relief that bankruptcy will provide, however, it is easier to understand why it is worth the investment and how it may be more financially doable than you had thought.

Here are a few things to keep in mind while considering bankruptcy:

Will I Lose My Car If I File Bankruptcy

One of the most common questions many people ask when facing the possibility of bankruptcy is: can I keep my car? A car is necessary for most people to keep their job and remain independent. Some people also have an emotional attachment to their vehicle and would rather avoid bankruptcy than lose their car or truck.

As the bills pile up, however, and they are faced with repossession and bankruptcy, they must make a difficult decision. Here are a few things to keep in mind:

Contact an Experienced Attorney Today

Call our office at 281-823-7016 or 888-512-6044 to schedule a free 30-minute consultation with our experienced lawyer. Our office is conveniently located just two blocks east of Interstate 45.

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Webster, TX 77598

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