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Bankruptcy Blog

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  • What Happens to My Car Collection If I Declare Bankruptcy in Texas?

    In most states, if you declare Chapter 7 bankruptcy, or the “liquidation bankruptcy,” then all of your equity (the total market worth of your belongings) may be used to pay off your creditors. For car owners, that typically means any cars that they own will be evaluated for their equity and sold to pay off their debts. The key thing to remember here is that the number of cars you own isn’t the ...
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  • The Pros & Cons of Filing for Chapter 13 Bankruptcy

    Often called the “wage earner’s plan,” Chapter 13 provides filers with the opportunity to consolidate all of their debt into a single monthly payment, paid to a court-appointed trustee who disburses the payment to your creditors. Unlike Chapter 7 bankruptcy, you’re not required to sell your belongings in order to pay creditors; instead, you’ll work with your attorney to propose a repayment plan to ...
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  • Will I Have to Sell my Family Heirlooms to Pay Creditors?

    There are certain things in our lives that are beyond monetary value. They’re not “assets” or “belongings”—they’re part of our heritage, our memories, our family history. We don’t think about how much they’re worth, but how much they mean to us. But what happens to those things when you declare bankruptcy? Does the bank make exemptions based on sentimental value? Does the court make room for ...
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  • Will My Wages Be Garnished?

    Wage garnishment is a legal procedure by which a creditor (or anyone to whom you owe money) can have the court require your employer to hold onto a portion of your paycheck to pay off your debt. Wage garnishment draws your employer into your personal financial life, and it's both humiliating and financial hardship. If you're facing creditors for multiple debts, you could be facing wage ...
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  • What Property Do I Get to Keep If I Declare Bankruptcy in Fort Worth?

    It’s a common misconception that bankruptcy means all your assets get wiped out—sold and paid to creditors. However, that’s not the case; bankruptcy wouldn’t be much help to consumers if that were true! In Texas, there are certain assets you’re allowed to exempt from bankruptcy; you’re also allowed to choose between federal exemptions and Texas exemptions. If you’re married and filing jointly, ...
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  • How Do Bankruptcies Work?

    Filing for bankruptcy is a major step for people to file for bankruptcy. For that reason, it is important for people facing debt to understand how bankruptcy works. The Fort Worth bankruptcy attorney at The Huebner Law Firm, PC explains how bankruptcy works and the things you need to know if you’re considering filing for bankruptcy. What Is Bankruptcy? Bankruptcy is a court proceeding where a ...
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  • What Is the Minimum Debt Amount to File for Bankruptcy?

    If debt has become a major toll in your life, you may be considering filing for bankruptcy. One of the most common questions that our bankruptcy attorneys are asked is what the minimum debt amount is to file for bankruptcy. If you’re also wondering the same thing, the team of Fort Worth bankruptcy attorneys at The Huebner Law Firm, PC explains this below. Minimum Debt Amount for Bankruptcy Believe ...
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  • What Are The Benefits of Hiring a Bankruptcy Attorney?

    If you are thinking about filing for bankruptcy, you may be wondering if you should hire a bankruptcy attorney. Although you can file for bankruptcy without an attorney, it isn’t always in your best interest. For people filing for a Chapter 7 bankruptcy that involves valuable assets, it is essential to have an attorney handle the case. If you want to file for Chapter 13 bankruptcy, filing without ...
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  • Who Gets Notified When You File for Bankruptcy?

    Losing control of your finances is an overwhelming situation—leaving people with the fear of losing their assets, their security, and their reputation. Even though bankruptcy doesn’t carry as much of a negative connotation, some people still worry that their friends or coworkers will find out. The good news is that only a few people will receive notice when you file for bankruptcy. The Fort Worth ...
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  • Can a Car Lender Repossess a Car in Chapter 7 Bankruptcy?

    If you’re feeling stressed about your finances and you're being harassed by creditors, you might be considering filing for bankruptcy. With the help of an experienced Fort Worth bankruptcy attorney , you can fight for your financial freedom and obtain the best possible results for your case. At The Huebner Law Firm, PC, we help countless people get the financial freedom they need for a fresh ...
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  • Can Credit Companies Fight My Bankruptcy?

    One of the many questions people have regarding filing for bankruptcy is if credit card companies can fight it or get the case dismissed. Although it is rare, it is possible for a credit card company to challenge a bankruptcy by seeking to dismiss their case. However, it is more common for a credit card company to object to the discharge of a particular debt than to fight an entire bankruptcy ...
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  • The Dangers of Hiding Assets in Bankruptcy

    Nearly eight in ten Americans are in debt, meaning hundreds of millions of people across the nation owe money to another person or entity. For people with overwhelming debt, bankruptcy is a path to restoring their financial security and peace of mind; even so, it can be a frightening process. Because people fear losing their most valuable assets, some of them try to hide assets when filing for ...
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  • Will I Lose My Doctors If I Discharge the Money I Own Them?

    The United States spends more on healthcare than any other country in the world. In 2017, the United States spent about $3.5 trillion on health expenditures, which is more than twice the average among developing countries. With the average healthcare cost per person reaching $10,345 in 2016, experts predict that figure will increase to about $15,000 in 2023. If you are dealing with extensive ...
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  • How to Rebuild Your Credit After Chapter 7 Bankruptcy

    Chapter 7 bankruptcy is the most common form of consumer bankruptcy because the process from filing to discharging debt only takes about 3 to 6 months. Although bankruptcy can be extremely helpful for families who are overwhelmed with debt, many people choose not to file because they fear the effects that bankruptcy will have on their credit score. However, the truth is that leaving your debts ...
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  • How Long Do I Have to Wait to File Bankruptcy Again?

    There are many benefits to bankruptcy, including avoiding foreclosure and putting an end to creditor harassment. If you are still in debt and have financial troubles, there are no restrictions on the number of times you can file for bankruptcy. However, there is a waiting period for you depending on the type of bankruptcy you filed previously. Read below to learn more about your legal options if ...
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