Medical Bills in Bankruptcy

Even though debts such as credit cards, student loans and taxes are the most common sources of financial difficulty for our clients, many of our clients also have a considerable amount of medical debt.  Here’s the good news – whether your file for Dallas Chapter 7 bankruptcy or Texas Chapter 13 bankruptcy, bankruptcy can get rid of these…

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Listing Creditors in Bankruptcy

It is almost universal when our clients give us the paperwork to prepare their bankruptcy case, they make notations next to 1 or 2 of their creditors, usually credit cards, saying “do not include” or “I want to keep this one.”  Unfortunately, you’re not allowed to simply not list creditors in bankruptcy.  Whether you file Chapter…

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Tax Returns and Refunds in Chapter 13 Bankruptcy

Tax returns and potential tax refunds can be problematic whichever chapter of bankruptcy you file. In Chapter 7 bankruptcy, for example, a refund for a return that has been filed but the refund not yet received is an asset that must be listed in your bankruptcy schedules. In Dallas Chapter 13 bankruptcy, refunds may need to be…

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Are Filing Bankruptcy and Insolvency the Same?

Bankruptcy and insolvency are very similar concepts. In many cases, being insolvent can often lead to someone filing for some form of bankruptcy. However, even though they are related, they aren’t necessarily the same, which can be confusing as both situations deal with your credit, finances and debt load. Is Filing Bankruptcy Insolvency: Not necessarily. Insolvency…

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Multiple Bankruptcy Filings – Chapter 7 Discharge or Not?

We recently had a client come in who previously filed for chapter 13 bankruptcy way back in 2006.  Eventually, his bankruptcy case was converted to chapter 7 bankruptcy and he received a discharge in 2011.  Unfortunately, his finances have deteriorated again and he’s looking into filing bankruptcy as an option.  Can he get another discharge or not? Discharge Limitations if He Files Chapter…

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Transferring Property Before Bankruptcy

STOP!  Don’t do it!  A lot of our clients ask us whether or not they can simply transfer assets, such as cars, houses, etc. out of their names prior to filing bankruptcy as a way to keep those assets away from your creditors.  No matter the value of the property or size of the transfer,…

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