Portfolio Recovery is a debt buyer that files thousands of collection lawsuits in Texas each year. They sue on old credit card debt that they bought for as low as 4 cents on the dollar! How can you win if you owe the money? Like many large debt buyers, Portfolio Recovery Associates probably does not […]
The bankruptcy court requires cases to be filed online, so it is a quick process. Getting ready to file is where most of the work is done. We First Determine What’s Right For You That’s right – “we” not “me.” Together, we’ll go over your income, expenses and your debts. We’ll look at all your […]
How bankruptcy affects your credit is one of the most common concerns of people considering bankruptcy. Let’s set the stage for looking at this issue: Any reported event that occurs pertaining to how you have paid your debts will show up on your credit report. An event remains on your credit report for 7 years, […]
Filing bankruptcy does not mark the end of your ability borrow money in the future. Instead, it is the end of sleepless nights, stress and fights caused by your debt problems. Many people that I see for a bankruptcy consultation that ask this question usually are NOT in a situation to buy a house or […]
Midland Funding is a debt buyer that buys old credit card debt for a few pennies on the dollar, then files thousands of collection lawsuits in Texas each year. If Midland Funding wins their case against you, they get a judgment, which they can use to garnish your bank account. If you have been sued […]
You cannot be fired from your current employer for filing bankruptcy, however a prospective employer may consider the fact that you filed bankruptcy. I’ve found that there is greater risk of being denied a new job as a result of having lots of unpaid bills rather than having no bills and a bankruptcy. Why? There’s […]
San Antonio is a military-town, so I have lots of people coming in to file bankruptcy in order to save their security clearance. Sure, bankruptcy can easily solve debt problems, but I wasn’t sure how or why it protected a security clearance. So I asked some questions of several of the ones that wanted to […]
The bankruptcy court looks at all of your household income and household expenses to determine if you qualify for bankruptcy. You can certainly file a bankruptcy without your spouse, but the court still looks at household income and household expenses. This is where it gets dicey in the consultation – the client wants to file […]
Here’s the “Easy” button: For the typical person that I see in a debt consultation, the determining factors for qualification for a Chapter 7 bankruptcy are the person’s income and expenses. Keep in mind, it’s like looking at an elephant…
One factor in determining if you qualify for Chapter 7 is to compare your previous six months of income to median income for people in Texas, based on the household size. Although you can be above median income and still…
Most people that file bankruptcy file under Chapter 7, which is the form of bankruptcy where there is no monthly payment to a trustee. Chapter 7 has numerous advantages over Chapter 13. Here are the key advantages: Chapter 7 Bankruptcy…
