If a party files for bankruptcy after a divorce case has been started in Texas and before the Texas divorce is finalized, the divorce case will be put on hold until the bankruptcy court says it is ok to proceed. The bankruptcy court will have to lift the stay that is in place (say it […]
WHAT HAPPENS WHEN A DEBTOR DIES WHILE IN BANKRUPTCY?
Rule 1016 of the Federal Rules of Bankruptcy Procedure addresses what happens to a bankruptcy case when a debtor dies. In Chapter 7 bankruptcy, the case continues. The estate of a Chapter 7 debtor is administered and the case concluded as though the death had not occurred. When a bankruptcy case is filed, property is […]
What is Chapter 7 Bankruptcy?
Everybody has bills. Perhaps you must be late on a payment or miss one entirely. It isn’t ideal for your credit score, but in the present condition of America’s economy, lots of people need to “rob Peter to pay Paul.” If this really is you, you most likely don’t need to think Bankruptcy, not just […]
WHAT IS THE DIFFERENCE BETWEEN CHAPTER 7 AND CHAPTER 13 BANKRUPTCY?
Chapter 7 bankruptcy is commonly referred to as a “liquidation” bankruptcy, however very few cases involve liquidation of a debtor’s property. Chapter 7 bankruptcy cases are a good option for eligible debtors who have debts they wish to discharge and who are current on their payments to creditors holding a security interest in property the […]
What’s In a Credit Score?
Credit scores – a necessary evil. Credit scores are used for everything from approving someone for a loan, to making someone a job offer. People with higher credit scores get lower interest rates, lower insurance rates, and more job offers. The question I hear most often from people is, “How do credit scores work?”. Well, […]