Articles with general information about filing Chapter 7 and Chapter 13 bankruptcy in Texas.
Social Security benefits come up in two different ways in bankruptcy cases. First, Social Security benefits are not considered income on the means test in both Chapter 7 and Chapter 13 cases. A means test is a way of calculating… Continue Reading
Federal income taxes cannot be discharged in bankruptcy unless the tax debt meets very specific requirements. Discharge of tax debt is limited to unsecured debt. Federal tax liens may not be discharged in bankruptcy. If the tax debt is unsecured,… Continue Reading
Once a debtor files bankruptcy they have to be very careful about disposing of their property. Upon filing a bankruptcy petition, all property owned by the filer becomes part of a bankruptcy estate. Debtors can exempt property from the estate… Continue Reading
When an individual files bankruptcy everything they own becomes part of a bankruptcy estate. However, debtors can use the exemptions available to them in the state in which they live in order to exempt specific property from the estate. Doing… Continue Reading
Bankruptcy stops debt collection. The automatic stay prevents collection of debt from borrowers. Once a bankruptcy case is filed, all collection of debt must go through the bankruptcy court. In Chapter 7 cases this means that the creditor will only… Continue Reading