You've likely heard that you can't use bankruptcy to get rid of student loan debt. However, you can get your student loans discharged in some instances. You'll have to fulfill strict requirements and the process can be more complicated for student loan bankruptcy than...
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Bankruptcy
How does a trust file for bankruptcy?
Bankruptcy, in most cases, isn't an option for a legal trust. A personal trust is one that you open and is also named the beneficiary of. In Texas, a personal trust leaves its owner personally liable, which disables the trust from holding your debt. The trust can buy,...
Why reaffirm a debt in bankruptcy?
If you declare bankruptcy, it doesn't necessarily mean that you no longer have an obligation to repay a Texas creditor. In some cases, this is because the debt is considered to be a priority, which means it has to be paid regardless of your circumstances. In others,...
Is there a “best time” to file for bankruptcy?
Debt burdens could prove impossible to pay. A Texas resident might struggle for months and months to figure a way out but might not readily consider bankruptcy. Some may worry about the stigma associated with filing for bankruptcy while not thinking about the...
What are the top reasons people file for bankruptcy?
Residents of Texas whose debts exceed their assets may find themselves seeking protection from the bankruptcy courts. Individual circumstances might vary, but there are several common reasons that people choose to file for bankruptcy. The top three reasons people file...
Filing for bankruptcy in Texas
Filing for bankruptcy can be confusing but may be beneficial to help you create a better financial future. Bankruptcy is a legal process that allows you to discharge many of the unsecured debts you have without having to repay them. If you live in Texas and have been...
How an automatic stay works in bankruptcy
One of the biggest fears for people owing money in Texas is to have their life controlled by creditors, who may have the power to garnish debtors' wages and hold their assets for years. An automatic stay is one solution to protecting your finances as you work through...
Is it possible to get a mortgage after filing for bankruptcy?
You're not alone if you're a resident of Texas who has always wanted to own a home. However, if you have filed for bankruptcy, you may wonder if that dream is unattainable. It's important to know how you can still secure a mortgage after bankruptcy. Stay up to date on...
Property exemptions in Texas bankruptcy
Bankruptcy in Austin, Texas, gives a debtor a legal way out of debt. They can choose several bankruptcy types, but the most common kinds are Chapter 7 and Chapter 13. Debtors might have to give up assets depending on the type of bankruptcy but exemptions could save...
What assets are nonexempt?
Some people in Texas who are unable to repay their debts hesitate to file for bankruptcy because of a fear that they will lose all their assets. However, Texas provides a generous list of exemptions and allows people to exempt many types of assets from the bankruptcy...
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