If you are filing a joint bankruptcy with your spouse and your spouse dies during the bankruptcy process, this could impact your case in several ways. One of the most important consequences of the death of a filing spouse during bankruptcy is that the life insurance benefit payout cannot become part of the bankruptcy estate.  For example, if you and your spouse filed bankruptcy in January 15, 2010 and your …

Comment author: My Spouse Died During Bankruptcy, Will I Lose The Life Insurance … Interest just to Me

Comment by My Spouse Died During Bankruptcy, Will I Lose The Life Insurance … Interest just to Me: … Spouse Died During Bankruptcy, Will I Lose The Life …

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Category: Bankruptcy , bankruptcy law

Tags: Bankruptcy Insurance policy Life insurance Texas

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Chapter 11 bankruptcy is a type of bankruptcy used by businesses or individuals with at least $1,010,650 in secured debt, such as properties and vehicles and $336,900 in unsecured debt, such as credit cards. We mostly hear about Chapter 11 bankruptcy when companies such as GM file bankruptcy or celebrities such as Michael Vick and Stephen Baldwin seek bankruptcy protection; but Chapter 11 bankruptcy is also …

Comment by Jacob Decker: … an experienced bankruptcy. Most bankruptcy attorneys …

Category: Bankruptcy , Chapter 11 Bankruptcy , Filing Bankruptcy

Tags: Bankruptcy Chapter 11 Bankruptcy Filing Bankruptcy

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If you’re facing foreclosure, filing an emergency bankruptcy can stop the foreclosure process in its tracks.  Chapter 7 and Chapter 13 bankruptcy protect the debtor’s assets with an automatic stay that forbids creditors from taking any actions against the debtor in order to collect on a debt. Automatic stay stops foreclosures, lawsuits, wage garnishments, bank account seizures and any other creditor actions to collect …

Category: Dallas Bankruptcy

Tags: Bankruptcy Debt foreclosure

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There are a few situations that help determine if you should delay your bankruptcy filing.

If you are considering filing for bankruptcy, there are a small number of special circumstances where your best option would be to delay filing for bankruptcy.  Of course it would be best to speak to a bankruptcy attorney as soon as possible, but there are a few general situations that an attorney might mention as reasons to delay your filing.

The first is if you owe …

Comment by Jacob Decker: … file chp 7 bankruptcy before getting divorced!! …

Category: Divorce and Bankruptcy , Filing Bankruptcy

Tags: bankruptcy law Chapter 7 Title 11 United States Code Lawyers and Law Firms United States

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Many business owners considering bankruptcy find it difficult to decide whether they should reorganize their debts Chapter 11 bankruptcy or liquidate their debts in a Chapter 7 bankruptcy.  Below are a few questions every business owner should ask before they file Chapter 11 bankruptcy.

Is my business viable?  Oftentimes businesses run into financial problems because they are running on faulty business plans or their …

Category: Bankruptcy , Bankruptcy Q&A , Chapter 11 Bankruptcy , Chapter 7 Bankruptcy , Economy , Filing Bankruptcy

Tags: Business Chapter 11 Bankruptcy Chapter 7 Bankruptcy

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Holding rental property when filing bankruptcy can impact your “means test” and your post-bankruptcy fresh start depending on the circumstances surrounding that property.  Let’s take a look at a few scenarios:

If you have a rental property with a paying tenant, the rent received will be counted towards your income.  This fact alone could cause you to “fail” the means test which would mean that you …

Category: Bankruptcy , Chapter 11 Bankruptcy , Chapter 13 Bankruptcy , Chapter 7 Bankruptcy

Tags: Chapter 13 Bankruptcy Chapter 7 Bankruptcy Filing Bankruptcy foreclosure Landlord Rental Property

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Pamela Anderson has disputed rumors that she is considering bankruptcy.  But should the former Baywatch star file bankruptcy given the multiple liens placed o her property? According to several reports, Pamela Anderson is facing liens from various construction companies for unpaid bills totaling nearly $1 million and a bill for $252,360 for unpaid California state taxes. But despite the reports, Anderson says that she is far from filing bankruptcy : …

Comment author: Should Pamela Anderson File Bankruptcy? | Reed's Bankruptcy Blog iSilverlight

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Category: Bankruptcy

Tags: Bankruptcy Celebrity Pamela Anderson Real estate Taxes

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… and current on others, wonder if they need to include the debt that’s in good standing in their bankruptcy filing.  The simple answer is YES, you must include all of your debts and assets in your bankruptcy filing. Failing to include all of you debts and assets in your bankruptcy filing can jeopardize your case.

For example, if you have a home that you own without a mortgage, you will need to include that home as an asset in your bankruptcy case.  Or, if you have a car payment that is …

Category: Car Loans / Title Loans , Filing Bankruptcy

Tags: Auto Bankruptcy Law

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Lie Number One – Bankruptcy will ruin your credit forever! Let’s face it, the majority of people considering bankruptcy already have bad credit.  They have defaulted on personal debt such as credit cards and are delinquent on essentials such as their mortgage.  For many, filing bankruptcy will actually improve their credit score by bringing their collection balance to zero through a bankruptcy discharge. …

Comment by Jacob Decker: … is too much then bankruptcy is a guaranteed solution to …

Category: Bankruptcy , Credit Counseling

Tags: Bankruptcy Lie

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If you listen to some of the “debt gurus” out there who discourage everyone from filing bankruptcy and encourage them to instead work harder to repay debts, then you’ve probably taken on extra work to repay debt only to find that you still can’t make it out of the debt hole.  If that’s you, there are some realities you need to consider:

Working extra hours or an extra job is not a sliver bullet for repaying out of control debt.  Every extra hour you work in an …

Category: Bankruptcy , Filing Bankruptcy , Unemployment - Job Loss

Tags: Bankruptcy bankruptcy law Income tax Lawyers and Law Firms

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Many debtors behind on both their mortgage and property taxes wonder if bankruptcy can be used to stop a property tax sale of their home.  Fortunately for debtors facing a property tax sale of their home, bankruptcy can be used to stop the sale if they move quickly. Here’s what you need to do:

Before filing for bankruptcy, find out if there is a property tax lien on your home. In the state of Texas, ad valorem taxes are given the highest priority of all liens …

Category: Bankruptcy , Bankruptcy Q&A , Economy , Filing Bankruptcy , bankruptcy law

Tags: Bankruptcy Lien Property Taxes

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… Unfortunately for single parents, child support payments received in the six month period prior to filing bankruptcy will be counted as income for the purposes of the means test.  If inclusion of that child support puts your income above the median income for the state of Texas, you may be forced to file Chapter 13 bankruptcy instead of Chapter 7 bankruptcy.  What this means is that instead of receiving a discharge of your debts in bankruptcy, you may need to repay them over a 3 to 5 …

Category: Bankruptcy , Bankruptcy Q&A , Filing Bankruptcy

Tags: Bankruptcy Child support Income

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