Bankruptcy Archives - Page 9 of 11 - Rubin & Associates

5 Tips for 20-somethings to Avoid Bankruptcy

It’s never too early to start good financial habits. Most 20-somethings pay no attention to their spending habits, which can often lead to less savings and more debt.

Don’t wait too long to control your spending and save for retirement. If you start early and follow these 5 financial tips, you’ll be able to save more and make better financial decisions.

1. Don’t spend more than you earn

Make sure you pay attention to how much you earn, and spend less than that amount every month. Once you fall into the habit of spending as much as you make, you’ll find that you’re living paycheck to paycheck with no savings. Ideally, you should be saving between 3-10% of each paycheck.

2. Make saving money a habit

It’s all too easy to spend all the money you make. Even if you’re only saving a few dollars per paycheck, locking in the habit of saving is what’s important. Make saving a part of your monthly budget, so the money you’re saving isn’t an option to spend.
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By Mark Rubin|2015-04-27T15:20:32-05:00April 27th, 2015|Bankruptcy|

How Will Bankruptcy Affect Your Income Tax Refund?
How Will Bankruptcy Affect Your Income Tax Refund?

Bankruptcy, Debt, Money Management, Videos

How Will Bankruptcy Affect Your Income Tax Refund?

The most common question we hear at this time of year is “What will happen to my Income Tax Refund if I file bankruptcy?”

IF you’re filing for Chapter 7, it’s likely that your refund will be protected, as it’s considered an asset. IF you’re filing during tax season, your attorney can work with you to be sure you’re maximizing your refund. Many times, we encourage clients to file when they get their refund, as this extra money can be put towards the cost of your case.

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By Mark Rubin|2015-03-26T14:19:09-05:00March 26th, 2015|Bankruptcy, Debt, Money Management, Videos|

Eliminate Income Tax Debt With Bankruptcy

It’s tax season again, which means we’re getting more questions about income taxes and tax debts. Many times, we talk to clients who’re already struggling with overwhelming debt, and the possibility of additional debt to the IRS is incredibly stressful.

The government tightened bankruptcy laws in 2005, but in many cases, it’s still possible to reduce an income tax debt. You’ll definitely want to meet with an experienced bankruptcy attorney who can explain your options and any possible relief you might be able to achieve.

If you’re already being audited, a bankruptcy proceeding won’t stop your audit. It will, however, stop any collection action while the bankruptcy is pending.

If you didn’t file a tax return (or if you didn’t file several), you’re not allowed to discharge any of the debt. Before you file for bankruptcy, your attorney must prove that you filed your four most recent tax returns.

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By Mark Rubin|2015-03-18T10:42:53-05:00March 18th, 2015|Bankruptcy, Debt|

Is Chapter 7 Right For Me?
Is Chapter 7 Right For Me?

Bankruptcy, Debt, Videos

Is Chapter 7 Right For Me?

If you’re like most Dallas area residents who are struggling with debt, you’re wondering how you’re going to catch up – and if possibly, bankruptcy might help you. Many of our clients call us because they’re not sure how bankruptcy works, or which chapter they should file. Our experienced bankruptcy attorneys will walk through your financial picture, then explain your various options.

If you’re curious about Chapter 7 bankruptcy, our latest video explains the primary difference between Chapter 7 and Chapter 13. If you think that Chapter 7 might apply to your situation, please call us – we’d be glad to help get you the fresh start you deserve.

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By Mark Rubin|2015-01-30T15:05:04-06:00January 30th, 2015|Bankruptcy, Debt, Videos|

What can bankruptcy do for me?
What can bankruptcy do for me?

Bankruptcy, Debt, Videos

What can bankruptcy do for me?

Are you struggling with overwhelming debt and asking yourself, “What can bankruptcy do for me?” – then our latest video will answer all your questions. We’ve helped hundreds of Dallas area residents by erasing their credit card debt, stopping foreclosures, stopping repossessions, and more. Watch our video for more details about what bankruptcy can do and how it can help you get the fresh start you deserve.

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By Mark Rubin|2015-01-22T05:39:09-06:00January 22nd, 2015|Bankruptcy, Debt, Videos|

Chapter 7 vs. Chapter 13 Bankruptcy

Most Americans don’t know the difference between Chapter 7 and Chapter 13 bankruptcy. There are advantages to each one, and specific reasons you’d want to choose one over the other. Watch our video to learn more about the difference between the two types of consumer bankruptcy.

If you have any questions or would like to know more, please call us at 214-760-7777 for a free bankruptcy consultation.

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By Mark Rubin|2014-11-12T15:43:46-06:00November 12th, 2014|Bankruptcy|

5 Scary Things That Bankruptcy Can Save You From
5 Scary Things That Bankruptcy Can Save You From

Bankruptcy

5 Scary Things That Bankruptcy Can Save You From

It’s Halloween, so we thought it would be appropriate to share 5 scary things that bankruptcy can save you from. If you’re overwhelmed with debt, the situation can get scary quickly, and rising stress levels make the situation even worse.

Bankruptcy was designed to give people just like you a second chance. Wouldn’t you like a fresh start, with no stress and no fear? Here are the 5 scariest things that bankruptcy can save you from:

1. Getting deeper in debt

Many times, if you’re overwhelmed with debt, you’ll resort to any means possible to stay afloat. Additional loans or credit cards will only make your situation worse, and the more debt you accumulate, the harder it will be to catch up. When you file for bankruptcy, the cycle is broken. Many times, your debt can be completely erased.
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By Mark Rubin|2014-10-31T13:02:58-05:00October 31st, 2014|Bankruptcy|

What Happens With a Dismissed Bankruptcy?
What Happens With a Dismissed Bankruptcy?

Bankruptcy, Texas Bankruptcy

What Happens With a Dismissed Bankruptcy?

There are several reasons that a bankruptcy case can be dismissed. The Bankruptcy Code allows most dismissed cases to be re-filed at any time, and most importantly – the debts that were included in the original case are not barred from discharge.

It’s important to note – once a bankruptcy case is dismissed, the automatic stay ends immediately, which means creditors are allowed to renew their collection attempts. Any liens or transactions avoided by the bankruptcy case are also reinstated.

It’s important to have an experienced bankruptcy attorney in your corner to help navigate the complicated waters of bankruptcy law. We always help our clients understand every aspect of their bankruptcy case, including what happens if their case is dismissed.

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By Mark Rubin|2014-08-30T04:11:10-05:00August 30th, 2014|Bankruptcy, Texas Bankruptcy|

2014 Dallas Bankruptcy Cases
2014 Dallas Bankruptcy Cases

Bankruptcy, Bankruptcy Statistics, Texas Bankruptcy

2014 Dallas Bankruptcy Cases

If you’re struggling with overwhelming debt, you’re not alone. Thousands of Dallas area residents have filed for bankruptcy so far this year.

According to court records, 3,866 bankruptcy cases have been filed in the Northern District of Texas, Dallas Division between January 1, 2014 and the beginning of August. The Fort Worth Division has seen 3,267 bankruptcy cases filed, and the Sherman Division has seen 1,705. We include the Sherman Division in the numbers because our office in Frisco allows us to assist clients who live further north.

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By Mark Rubin|2014-08-21T15:40:08-05:00August 21st, 2014|Bankruptcy, Bankruptcy Statistics, Texas Bankruptcy|

The Top 4 Loans To Avoid
The Top 4 Loans To Avoid

Bankruptcy, Personal Finance

The Top 4 Loans To Avoid

We help hundreds of Dallas area residents file bankruptcy every year, and while each client’s story is unique, we tend to see common financial mistakes. No one plans to end up buried in debt, but with certain decisions, you’re more likely to end up in financial trouble.

Once your financial picture starts to look dim, it’s easy to accept the fast cash offers that companies offer. You’re late on bills, your mortgage, your car payment – so quick easy money seems like a great solution. Unfortunately, these quick loans end up sending you further down the road of no return.

So, we wanted to share the four types of quick cash loans that you should avoid:

1. Cash Advances

Almost every credit card offers a cash advance – where you can just walk up to an ATM and pull out cash. Yes, it’s immediate money, but you’re actually just adding to your accumulating debt. Even worse, the cash advance usually includes extra cost. You’ll be charged the standard interest rate on your credit card, and you’ll also have an added cash advance fee of 3% to 5% of the amount you withdraw.

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By Mark Rubin|2022-06-01T11:01:53-05:00July 30th, 2014|Bankruptcy, Personal Finance|