Personal Finance Archives - Rubin & Associates

Will it affect your spouse if you file for bankruptcy?

If you are considering bankruptcy and you are married, one of the first questions on your mind is probably about your spouse. Will your decision hurt their credit? Will it affect their property? Will they have to file too? These are smart questions to ask, and the answers depend on a few specific details about your situation.

The short answer is that filing bankruptcy on your own does not automatically put your spouse into bankruptcy with you. In most cases, your spouse can keep their separate credit, their separate property, and their financial independence. There are exceptions, however, and Texas community property law adds some wrinkles that are worth understanding before you file. (more…)

By Mark Rubin|2026-04-27T13:46:58-05:00April 27th, 2026|Bankruptcy, Bankruptcy Myths, Debt, Financial, Personal Finance, Texas Bankruptcy|

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|

Does my spouse have to file bankruptcy with me?

One of the most common questions we hear from potential clients is “Does my spouse have to file for bankruptcy with me?” This question is especially relevant for higher-income residents in Dallas, Texas, who often manage complex financial portfolios and obligations. There is no rule requiring that a spouse also file for bankruptcy, but in certain situations, it may be benficial to do so. Let me explain the nuances so you can ease your mind and make a clear decision. (more…)

By Mark Rubin|2025-10-01T15:51:48-05:00May 22nd, 2025|Acquisitions, Bankruptcy, Bankruptcy Myths, Debt, Financial, Personal Finance, Texas Bankruptcy|

Can you file for bankruptcy during a divorce?

One of the most common questions about bankruptcy is, “Can you file for bankruptcy during a divorce?” The short answer is yes, but there are several considerations to take into account before moving forward with both legal processes simultaneously. Understanding the potential advantages and complications can help you determine the best course of action for your financial future.

Bankruptcy and divorce: two separate legal processes

Bankruptcy and divorce are both complex legal matters, and while they may overlap in certain areas, they remain distinct processes. Bankruptcy is a federal legal procedure designed to help individuals eliminate or restructure debt, while divorce is a state-level legal process that involves the division of assets, liabilities, and determining responsibilities such as spousal or child support. (more…)

By Mark Rubin|2025-10-01T15:52:42-05:00March 3rd, 2025|Bankruptcy, Bankruptcy Myths, Debt, Financial, Foreclosure in Texas, Personal Finance, Repossession, Taxes, Texas Bankruptcy, Videos|

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|

What is the difference between Chapter 7 and Chapter 13 bankruptcy?

When individuals or families find themselves overwhelmed with debt and unable to meet their financial obligations, bankruptcy can provide a legal avenue for debt relief – and a fresh start. The two most common forms of personal bankruptcy in the United States are Chapter 7 and Chapter 13 bankruptcy. While both options are designed to help individuals manage or eliminate their debts, they differ significantly in terms of process, qualifications, and outcomes. (more…)

By Greg Gifford|2025-10-01T15:59:06-05:00September 25th, 2024|Bankruptcy, Debt, Financial, Personal Finance, Texas Bankruptcy|

Which rights do you have during a foreclosure?

With foreclosures in the Dallas area on the rise, we are hearing more and more questions about the rights that homeowners have during the foreclosure process. Foreclosure is obviously a challenging and confusing time, and understanding your rights is crucial for navigating the process effectively. Since we know more people are searching for these answers, I wanted to outline the key rights you have as a homeowner in Texas during foreclosure.

Right to Notice

Notice Before Acceleration: In Texas, before your lender can accelerate your loan (demand the full balance), they must provide you with a notice that gives you at least 20 days to “cure the default” (the official term for paying off the overdue amount and late fees). (more…)

By Mark Rubin|2024-01-18T09:20:09-06:00January 18th, 2024|Bankruptcy, Debt, Foreclosure in Texas, Personal Finance, Texas Bankruptcy|

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|