If you are like many Americans, even considering bankruptcy may feel like admitting failure. Worse, you may worry that filing for bankruptcy will mean losing valuable personal property, retirement savings or even your home. However, in Texas, you may be able to keep...
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Personal Bankruptcy
Some differences between a Chapter 7 and Chapter 13 bankruptcy
Texas residents may file for personal bankruptcy as either a Chapter 7 or a Chapter 11 petition. When considering a bankruptcy filing, it may help to understand some of the differences between the two petitions. Individuals experiencing a sudden job loss or a...
What is the automatic stay in bankruptcy?
When you file for Chapter 7 bankruptcy, the court issues an order called an automatic stay. This order, according to Findlaw, stops all collection actions against you, including lawsuits. The automatic stay is one of the first benefits you receive from filing your...