Money Management Archives - Rubin & Associates

Is there a minimum debt limit to file for bankruptcy?

One of the common questions we hear from potential clients is: “Is there a minimum debt limit to file for bankruptcy?” Many people assume that bankruptcy is only for individuals with overwhelming six-figure debt. Others worry that their debt is “not bad enough” to qualify for relief. The truth is simple and reassuring.

There is no minimum debt limit to file for bankruptcy.

If you are struggling to keep up with your financial obligations, bankruptcy may be an option worth exploring, regardless of whether you owe $10,000 or $10,000,000.

We have helped Dallas-area individuals and families across every spectrum of financial hardship. We have successfully filed bankruptcy cases for clients with as little as $10,000 to $15,000 in debt. We have also represented individuals with hundreds of thousands or even millions of dollars in obligations. Bankruptcy relief is not determined by a specific minimum debt threshold. It is determined by whether filing would meaningfully improve your financial situation. (more…)

By Mark Rubin|2026-02-28T12:21:32-06:00February 28th, 2026|Bankruptcy, Bankruptcy Myths, Debt, Financial, Money Management, Personal Finance, Texas Bankruptcy|

What is a bankruptcy trustee?

When people who are struggling with debt begin exploring the possibility of filing for bankruptcy, one of the first unfamiliar terms they encounter is usually “bankruptcy trustee.” Many clients ask us what a trustee actually does, how they fit into the process, and whether they’re there to help or to make things harder. Understanding the trustee’s role can remove a lot of uncertainty and help you feel more confident as you move through your case.

The trustee’s role in bankruptcy

A bankruptcy trustee is an impartial third party appointed to oversee your case. Trustees are not employees of the court, nor do they work for you or your creditors. Instead, they act as an administrator who ensures that all aspects of the bankruptcy process follow federal bankruptcy law and that all parties are treated fairly. (more…)

By Mark Rubin|2025-10-29T16:10:37-05:00October 29th, 2025|Bankruptcy, Bankruptcy Myths, Debt, Financial, Money Management, Personal Finance, Repossession, Texas Bankruptcy|

Can you file for bankruptcy more than once?

Unfortunately, sometimes bad things happen to good people more than once. An unexptected hospital bill, the loss of a job, a reduction on pay, or any other financial setback can cause spiraling debt. Sometimes, lightning does strike twice. If you are struggling with overwhelming debt and considering bankruptcy, you may be wondering whether it is possible to file for bankruptcy more than once. The answer is yes — individuals can file for bankruptcy multiple times. However, the timing between filings, the type of bankruptcy previously filed, and the outcome of that case all play critical roles in determining your eligibility and what protections you will receive.

At Rubin & Associates, we understand that financial hardship can strike more than once, even for higher-income families. Whether you have previously filed a Chapter 7 or Chapter 13 case, it is important to know how the law handles repeat filings and how we can help you strategically plan your next steps. (more…)

By Mark Rubin|2025-10-01T15:51:18-05:00June 20th, 2025|Bankruptcy, Bankruptcy Myths, Debt, Financial, Money Management, Personal Finance, Texas Bankruptcy|

Is there an income limit to file for bankruptcy?

Financial struggles are more common that most people think – most Dallas-area residents are only one financial bump in the road away from out of control debt. One of the most common questions we hear in initial consultations with clients is if there is an income limit to file for bankruptcy. One of the most common misconceptions about bankruptcy is that it is only available to people with very low incomes. This simply is not true. Whether you are earning a modest salary or have a high-paying job, bankruptcy can still be a viable option for getting your finances back on track. (more…)

By Mark Rubin|2025-10-01T15:55:19-05:00November 30th, 2024|Bankruptcy, Bankruptcy Myths, Debt, Financial, Foreclosure in Texas, Money Management, Personal Finance|

Only half of Americans think they can pay off their December credit card bill

Only 51% of Americans in a recent survey were confident that they could pay off their credit card bills this month – a big increase from the same time period last year. Every month, LendingTree conducts its Credit Card Confidence Index, and the December 2023 results are the worst since the survey began in September of 2018.

According to the report released last week, a “nationally representative” survey of American credit card holders showed that 49% did not think that they would be able to pay off their credit card bills this month. Only last month, the November survey results showed that only 42% were not confident about paying their bills. The previous low point was set in June 2022. (more…)

By Mark Rubin|2024-01-02T12:12:41-06:00December 28th, 2023|Bankruptcy, Debt, Financial, Money Management, Personal Finance|

Why do people delay filing for bankruptcy?

Whether we are in a recession or not, it is not easy to earn enough to live comfortably in today’s world. You would be surprised to learn how many Dallas-area residents struggle on a monthly basis to simply make ends meed. Adding children or additional vehicle payments to the mix make a difficult situation even tougher. All it takes is one unexpected expense to send finances (and debt) spinning out of control.

Sure, many families put money aside for unexpected expenses, they rarely have enough to cover for whatever might happen. Whether it’s an accident, the sudden loss of a job, an illness, or even a natural disaster, it does not take much to deplete any savings. Before long at all, bills start to pile up and debt starts to grow to uncontrollable levels. (more…)

By Mark Rubin|2023-08-31T17:29:34-05:00August 31st, 2023|Bankruptcy, Debt, Financial, Money Management, Personal Finance, Texas Bankruptcy|

How old do you have to be to file for bankruptcy in Texas?

We are seeing an increasing number of younger clients come in for free consultations and ask if they are old enough to file for bankruptcy. While there are government-set age limits for driving, voting, and drinking, you may be surprised to learn that there is no age restriction for bankruptcy.

In fact, the absence of an age limit for bankruptcy made the news back in 1998 when a 10-year-old in Maryland filed for Chapter 13 bankruptcy. Yes, you read that correctly – a 10-year-old filed for bankruptcy.
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By Mark Rubin|2023-07-31T09:04:19-05:00July 28th, 2023|Bankruptcy, Debt, Money Management, Texas Bankruptcy|

4 Scary Ways to Damage Your Debt

It is Halloween this weekend, so we had to share something scary here on the blog… and this time, we are sharing 4 Scary Ways to Damage Your Debt. Let’s face it – nothing is scarier than overwhelming debt that spirals out of control.

If you are not careful about how you spend your hard-earned money, and even how you conduct transactions online, you can easily start down the path to crushing debt. Today’s post is going to examine the 4 most horrifying ways you can head down a scary financial path.

1. Hackers and scammers

Digital thieves have become incredibly creative – you need to be extremely careful whenever you provide your credit card number to ANY online service. Charities are a common ploy, so make sure you do research on a charity before you make a donation – especially if you are solicited at your front door or over the phone.

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By Mark Rubin|2021-10-29T12:44:53-05:00October 29th, 2021|Bankruptcy, Debt, Money Management|

How To Pay Your Bills On Time
How To Pay Your Bills On Time

Money Management, Personal Finance

How To Pay Your Bills On Time

Sometimes the simplest things in life can be the hardest to do. The concept of paying an invoice on time is fairly simple, but with life throwing you unexpected curve balls, getting a check in the mail or making a payment on time is sometimes the last thing on your mind. Especially during the huge unknown of COVID, it’s important to stay on top of your bills so you don’t get behind.

Even though paying bills is a mundane task, doing so on time results in several positive effects:

You avoid late fees. You don’t have to part with more money than you should.
You keep your lights on. If you don’t pay your bills, the companies will eventually cut off their service and you could be left in the dark.
You keep your credit score in good standing.
You get peace of mind. Save yourself from worrying about what will happen if you don’t pay your bills on time.

If you’d like to achieve these results, here are a few tips to help you get on schedule with your bill pay system.

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By Mark Rubin|2020-08-28T10:16:30-05:00August 28th, 2020|Money Management, Personal Finance|

The 4 Dumbest Money Mistakes, According to Shark Tank’s Mr. Wonderful

We read an amazing post yesterday, and just had to share it here on our blog. Shark Tank’s Kevin O’Leary, known as “Mr. Wonderful”, shared the 4 most common money mistakes that people make.

According to O’Leary, the most important question you need to answer about your life is “How much does it cost you to be alive?” If you can’t answer that question, you’ll be in serious financial trouble soon.

Common money mistake #1: Buying crap clothes you don’t intend to wear

Far too many people buy clothes they don’t end up wearing. Most people wear the same 20% of their clothes 80% of the time. Stop buying clothes just to buy clothes – instead, invest in high quality clothes and wear them out. (more…)

By Mark Rubin|2016-07-14T16:59:43-05:00July 14th, 2016|Money Management, Personal Finance|