Category: Bankruptcy
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Stop Foreclosure Bankruptcy Austin: Four Dates That Decide It
Whether a filing can stop foreclosure bankruptcy Austin homeowners ask about depends on four dates. Texas law fixes three of them before any lawyer gets involved. A Texas mortgage lender does not need a lawsuit to foreclose. It needs a default letter, a notice of sale, and a first-Tuesday auction on the west steps of…
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Bankruptcy Means Test Austin: Three Households, One Cutoff
The bankruptcy means test Austin filers complete before a Chapter 7 case is an income calculation with a hard cutoff, and Austin’s wage levels push more households against it than in most of Texas. The test lives in 11 U.S.C. § 707(b). It compares a six-month income average to a statewide median, and for filers…
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Texas Homestead Exemption Austin: Five Situations, One Acreage Rule
The Texas homestead exemption Austin homeowners count on in bankruptcy protects a house by its footprint, not its price. That distinction matters more in Travis County than almost anywhere else in the state. A bungalow bought for a modest sum twenty years ago can now hold several hundred thousand dollars of equity. In most states,…
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Chapter 13 Bankruptcy Lawyer Austin: Six Things the Plan Is Not
A Chapter 13 bankruptcy lawyer Austin homeowners call has usually heard the same six assumptions before. Chapter 13 is debt consolidation. The payment is whatever you can afford. Anyone can file it. It lowers the mortgage. Payments start when the judge approves the plan. And if the plan fails, the case is simply over. Each…
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Chapter 7 Bankruptcy Lawyer Austin: Deadlines That Run the Case
A Chapter 7 bankruptcy lawyer Austin filers hire is mostly managing a calendar. The Bankruptcy Code sets a deadline for nearly every step, and most of them run from the day the petition hits the clerk’s office. Miss one and a routine case can dismiss itself. Meet them all and the whole thing is over…
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After Bankruptcy Discharge Arizona: What Actually Resets
Life after bankruptcy discharge arizona filers experience rarely matches the mental picture people have going in. A Chapter 7 discharge under 11 U.S.C. § 727 wipes out personal liability for most debts in the case. It doesn’t reset a credit report to zero, though, and it doesn’t erase every kind of financial history. What actually…
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Subchapter V Bankruptcy Arizona: How Small Businesses Reorganize
Subchapter v bankruptcy arizona small business owners use looks like Chapter 11. It runs by a much shorter rulebook, though. Congress created it through the Small Business Reorganization Act to give small companies a faster, cheaper path through Chapter 11. It skips the creditors’ committee and the layered procedures that make traditional Chapter 11 so…
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Chapter 13 Repayment Plan Arizona: How the Payment Gets Calculated
A chapter 13 repayment plan arizona filers propose isn’t a number they pick. It’s a formula the court runs. That formula weighs income, expenses, and how your income compares to the Arizona median for a household your size. Two people with identical debt totals can end up with very different monthly payments once 11 U.S.C.…
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Reaffirmation Agreement Chapter 7: What Signing One Actually Means
A reaffirmation agreement chapter 7 filers sign lets them keep a financed car. In exchange, they stay personally on the hook for that loan, even after everything else in the case gets wiped out. That trade sounds simple. It isn’t. Under 11 U.S.C. § 524(c), reaffirming a debt pulls that one obligation back out of…
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Wage Garnishment in Arizona: How Bankruptcy Stops It (and What Doesn’t)
Bankruptcy can stop wage garnishment in Arizona the moment you file. Arizona already caps most garnishments at 10% of disposable earnings under A.R.S. § 33-1131, thanks to 2022’s Proposition 209. But 10% of every paycheck still adds up fast when money is tight, and the state cap doesn’t touch a creditor garnishing your bank account…