Call us today for a FREE debt consultation: 214-760-7777
Are you struggling with overwhelming debt and asking yourself, “What can bankruptcy do for me?” – then our latest video will answer all your questions. We’ve helped hundreds of Dallas area residents by erasing their credit card debt, stopping foreclosures, stopping repossessions, and more. Watch our video for more details about what bankruptcy can do and how it can help you get the fresh start you deserve.
Most Americans don’t know the difference between Chapter 7 and Chapter 13 bankruptcy. There are advantages to each one, and specific reasons you’d want to choose one over the other. Watch our video to learn more about the difference between the two types of consumer bankruptcy.
If you have any questions or would like to know more, please call us at 214-760-7777 for a free bankruptcy consultation.
It’s Halloween, so we thought it would be appropriate to share 5 scary things that bankruptcy can save you from. If you’re overwhelmed with debt, the situation can get scary quickly, and rising stress levels make the situation even worse.
Bankruptcy was designed to give people just like you a second chance. Wouldn’t you like a fresh start, with no stress and no fear? Here are the 5 scariest things that bankruptcy can save you from:
Many times, if you’re overwhelmed with debt, you’ll resort to any means possible to stay afloat. Additional loans or credit cards will only make your situation worse, and the more debt you accumulate, the harder it will be to catch up. When you file for bankruptcy, the cycle is broken. Many times, your debt can be completely erased.
(more…)
There are several reasons that a bankruptcy case can be dismissed. The Bankruptcy Code allows most dismissed cases to be re-filed at any time, and most importantly – the debts that were included in the original case are not barred from discharge.
It’s important to note – once a bankruptcy case is dismissed, the automatic stay ends immediately, which means creditors are allowed to renew their collection attempts. Any liens or transactions avoided by the bankruptcy case are also reinstated.
It’s important to have an experienced bankruptcy attorney in your corner to help navigate the complicated waters of bankruptcy law. We always help our clients understand every aspect of their bankruptcy case, including what happens if their case is dismissed.
If you’re struggling with overwhelming debt, you’re not alone. Thousands of Dallas area residents have filed for bankruptcy so far this year.
According to court records, 3,866 bankruptcy cases have been filed in the Northern District of Texas, Dallas Division between January 1, 2014 and the beginning of August. The Fort Worth Division has seen 3,267 bankruptcy cases filed, and the Sherman Division has seen 1,705. We include the Sherman Division in the numbers because our office in Frisco allows us to assist clients who live further north.
We help hundreds of Dallas area residents file bankruptcy every year, and while each client’s story is unique, we tend to see common financial mistakes. No one plans to end up buried in debt, but with certain decisions, you’re more likely to end up in financial trouble.
Once your financial picture starts to look dim, it’s easy to accept the fast cash offers that companies offer. You’re late on bills, your mortgage, your car payment – so quick easy money seems like a great solution. Unfortunately, these quick loans end up sending you further down the road of no return.
So, we wanted to share the four types of quick cash loans that you should avoid:
Almost every credit card offers a cash advance – where you can just walk up to an ATM and pull out cash. Yes, it’s immediate money, but you’re actually just adding to your accumulating debt. Even worse, the cash advance usually includes extra cost. You’ll be charged the standard interest rate on your credit card, and you’ll also have an added cash advance fee of 3% to 5% of the amount you withdraw.
Obviously, this is the most common question we hear from potential clients. Bankruptcy can be intimidating if you don’t know what’s involved – and that’s why we provide free consultation calls to everyone. Everyone who calls gets to talk to Mark, and he’ll take the time to listen to your financial situation and explain your options.
Many of our clients are curious about what happens to their credit scores after they file for bankruptcy. In many cases, their scores have already decreased pretty drastically, since their financial hardship made it difficult or impossible to make monthly payments.
Most people think that filing for bankruptcy will destroy their credit indefinitely, but it’s actually not that difficult to repair your credit after filing. As long as you keep your goal in mind and stick to your plan, you’ll be able to rebuild your credit.
A bankruptcy can remain on your credit report for up to 10 years, so it’s important to follow these steps to start building your credit after bankruptcy:
You won’t know where you’re going if you don’t know where you are. Get a copy of your credit report so you fully understand your current score. You can get a free copy of your credit report every year from the big players (Equifax, Experian, and TransUnion) at the annualcreditreport.com website. Make sure you check for any errors. (more…)
It’s tax day, and that means many Americans are finding out that they owe even more money, thanks to the IRS. We always get questions at this time of year about how filing for bankruptcy will affect a family finances. In our last blog post, we discussed what can happen with any potential tax refunds during bankruptcy, and this time, we’re going to discuss how filing will affect a tax debt.
Even though the government tightened bankruptcy laws back in 2005, you still have the ability to relieve a tax burden. It’s important to meet with a qualified bankruptcy attorney first, so you can walk through the details of your situation and fully understand the possible tax implications or relieve you might receive.