Jan 11, 2023 · Bankruptcy is a legal proceeding in which a person who cannot pay his or her bills can get a fresh start. Filing bankruptcy immediately stops (called “automatic stay”) all of your creditors from seeking to collect debts from you until your debts are sorted out.

Jan 28, 2025 · Learn about qualifying and filing for bankruptcy in Texas, protecting property with bankruptcy exemptions, the documents you'll need, and hiring a lawyer.

Dec 18, 2024 · Everything you need to know about filing Texas bankruptcy, from requirements and procedures to info about the forms, can be found in this bankruptcy guide. Ready to say goodbye to debt for good? Learn More

Jan 11, 2023 · The Bankruptcy Code tells you what to do, and the Bankruptcy Rules tell how to do it. A good summary of bankruptcy law and procedure is available from the U.S. Bankruptcy Court here.

Bankruptcy is a kind of court case where a person asks a federal court to discharge (wipe out) debts and set up payment plans. Bankruptcy is a tool that can do things like helping you keep a roof over your head and stopping debt collectors. This section discusses the bankruptcy process. It is not a substitute for representation by a lawyer.

Read our guide to learn everything you need to know about bankruptcy in Texas. Learn how to file for bankruptcy, the types of bankruptcies, and more!

Chapter 7 bankruptcy is commonly called “liquidation bankruptcy.” It discharges unsecured debt, offering bankruptcy relief to individuals who cannot meet their financial obligations. In Texas, as in other states, this process involves liquidating non-exempt assets to pay off creditors.

Bankruptcy may make it possible for you to: Eliminate the legal obligation to pay most or all of your debts. This is called a “discharge” of debts. It is designed to give you a fresh financial start. (see bankruptcy – Texas exemptions) Stop foreclosure on your house or mobile home and allow you an opportunity to catch up on missed payments.

Nov 13, 2024 · In this comprehensive guide, we’ll walk you through everything you need to know about filing for bankruptcy in Texas—from understanding different types of bankruptcy to navigating each step of the process. By the end, you’ll have a clearer picture of whether bankruptcy is the right path for you and how to make it as smooth as possible.

Dec 4, 2021 · Chapter 7 and 13 are the most common types of bankruptcy filings in Texas. Each type of bankruptcy has its own eligibility criteria, advantages, and unique characteristics. An experienced bankruptcy lawyer can review your options and advise you which chapter is best suited to accomplish your objectives.