Repossession Archives - Rubin & Associates

What is the automatic stay?

When you are struggling with overwhelming debt, the pressure can feel relentless — calls from creditors, letters demanding payment, even the threat of foreclosure or repossession. But filing for bankruptcy can offer powerful relief, and one of the most immediate and impactful tools it provides is the automatic stay.

The automatic stay is a legal provision that instantly goes into effect the moment you file for bankruptcy. It’s a court-ordered injunction that stops most collection efforts in their tracks, giving you the breathing room you need to get your finances under control. (more…)

By Mark Rubin|2025-03-28T09:08:15-05:00March 28th, 2025|Bankruptcy, Debt, Financial, Foreclosure in Texas, Repossession, Taxes, Texas Bankruptcy|

Can you file for bankruptcy during a divorce?

One of the most common questions about bankruptcy is, “Can you file for bankruptcy during a divorce?” The short answer is yes, but there are several considerations to take into account before moving forward with both legal processes simultaneously. Understanding the potential advantages and complications can help you determine the best course of action for your financial future.

Bankruptcy and divorce: two separate legal processes

Bankruptcy and divorce are both complex legal matters, and while they may overlap in certain areas, they remain distinct processes. Bankruptcy is a federal legal procedure designed to help individuals eliminate or restructure debt, while divorce is a state-level legal process that involves the division of assets, liabilities, and determining responsibilities such as spousal or child support. (more…)

By Mark Rubin|2025-03-03T16:14:39-06:00March 3rd, 2025|Bankruptcy, Bankruptcy Myths, Debt, Financial, Foreclosure in Texas, Personal Finance, Repossession, Taxes, Texas Bankruptcy, Videos|

Can you keep your property in a Chapter 7 bankruptcy?

Filing for bankruptcy can be a stressful and emotional experience, especially when it comes to wondering whether you will be able to keep your property and belongings. “Can I keep my stuff in a Chapter 7 bankruptcy?” is one of the most common questions when considering a bankruptcy proceeding. To understand the answer, it is important to understand the difference between exempt and non-exempt property under Texas bankruptcy law.

Understanding exempt and non-exempt property in Texas

When you file for Chapter 7 bankruptcy, a trustee is appointed to your case to liquidate your non-exempt assets to pay off your creditors. However, you do not have to lose everything – and often, you will not lose anything. Texas, like every other state, allows debtors to protect certain types of property using bankruptcy exemptions. The key is understanding what property is classified as “exempt” and what is “non-exempt.” (more…)

By Mark Rubin|2024-09-13T09:35:59-05:00September 13th, 2024|Bankruptcy, Bankruptcy Myths, Debt, Foreclosure in Texas, Repossession, Texas Bankruptcy, Videos|

5 Reasons To File Chapter 13 Bankruptcy
5 Reasons To File Chapter 13 Bankruptcy

Bankruptcy, Debt, Personal Finance, Repossession

5 Reasons To File Chapter 13 Bankruptcy

Last week we discussed the benefits of filing Chapter 7 bankruptcy. While it has some pros, it’s not always the right fit for everybody. That’s when you look at Chapter 13 bankruptcy.

Today we’re going to explore five main reasons why people choose to file Chapter 13 bankruptcy.

1. Stop Foreclosures, Repossessions and Garnishments

The second you file Chapter 13 bankruptcy, banks and other creditors have to cease their collection efforts. That means that they can no longer foreclose on your house or repossess your vehicle.

This halt in collections can be stopped for the entire duration of the case, which can last as long as five years, whereas with a Chapter 7 bankruptcy, the creditors must only stop for a few months.

(more…)

By Mark Rubin|2013-05-16T08:19:24-05:00May 16th, 2013|Bankruptcy, Debt, Personal Finance, Repossession|

Busting Two Myths About Repossession
Busting Two Myths About Repossession

Bankruptcy, Debt, Personal Finance, Repossession

Busting Two Myths About Repossession

Repossession is not a fun thing. Losing your car, truck, motorcycle or boat can be embarrassing and inconvenient.

But just like anything in life that people hope to avoid, there are a few misconceptions that the general pubic has about the process of repossession.

If you find one of your vehicles in danger of being repossessed, the best weapon is knowledge. With that, you will be able to make informed decisions.

Repossession Myth #1: My vehicle can’t be repossessed until I’m at least 2 months behind on payments.

This is absolutely untrue. While bill collectors generally wait until at two or three months worth of missed payments, they can take your vehicle away if one payment is one day late.

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By Mark Rubin|2012-04-25T08:00:38-05:00April 25th, 2012|Bankruptcy, Debt, Personal Finance, Repossession|