Texas Bankruptcy Archives - Page 3 of 3 - Rubin & Associates

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|

Eliminating Tax Debt With Bankruptcy
Eliminating Tax Debt With Bankruptcy

Bankruptcy, Debt, Texas Bankruptcy

Eliminating Tax Debt With Bankruptcy

It’s tax day, and that means many Americans are finding out that they owe even more money, thanks to the IRS. We always get questions at this time of year about how filing for bankruptcy will affect a family finances. In our last blog post, we discussed what can happen with any potential tax refunds during bankruptcy, and this time, we’re going to discuss how filing will affect a tax debt.

Even though the government tightened bankruptcy laws back in 2005, you still have the ability to relieve a tax burden. It’s important to meet with a qualified bankruptcy attorney first, so you can walk through the details of your situation and fully understand the possible tax implications or relieve you might receive.

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By Mark Rubin|2014-04-15T09:57:30-05:00April 15th, 2014|Bankruptcy, Debt, Texas Bankruptcy|

What happens to your tax refund in bankruptcy?
What happens to your tax refund in bankruptcy?

Bankruptcy, Texas Bankruptcy

What happens to your tax refund in bankruptcy?

The people who file for bankruptcy during tax season always ask us what happens to their tax refund. Does they still get it, or is it lost?

Most of the time, if you’re in Chapter 7 bankruptcy, you’re able to protect your tax refund. Unfortunately for those in Chapter 13, saving your refund isn’t as likely.

Tax refunds and Chapter 7 Bankruptcy

When you file for Chapter 7 bankruptcy, your tax refund is considered an asset – whether you’re received it or not. Just like your other assets, if your tax refund is “exempt,” it can’t be touched by the trustee. The amount of your refund that’s exempt will very from state to state, depending on the state allowed amounts. You might even be able to use the wildcard exemption (which can be used to protect any asset) if your state doesn’t have laws regarding the exemption of tax refunds.

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By Mark Rubin|2014-03-25T21:21:57-05:00March 25th, 2014|Bankruptcy, Texas Bankruptcy|

The Benefits of Filing Chapter 7 Bankruptcy
The Benefits of Filing Chapter 7 Bankruptcy

Bankruptcy, Texas Bankruptcy

The Benefits of Filing Chapter 7 Bankruptcy

Filing for Chapter 7 bankruptcy is arguably the best plan for eliminating debt. It can wash away certain types of debt for good, cleanse you of your stress and financial worries, and free up income for your family. Best of all, it can give you a fresh start to rebuild your credit.

Here’s a more complete list of what Chapter 7 can do for you:

Eliminate certain types of debt permanently
Get rid of debt stress and worry
Keep and protect property you want to keep
Get out from under debt on property you are willing to say goodbye to
Stop lawsuits, creditor harassment and garnishments
Free up income for your family
Get into a position to earn more money and save
Let you start to rebuild your credit

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By Mark Rubin|2012-06-19T08:00:53-05:00June 19th, 2012|Bankruptcy, Texas Bankruptcy|

Fact or Fiction? If I file for bankruptcy in Texas, everyone will know.
Fact or Fiction? If I file for bankruptcy in Texas, everyone will know.

Bankruptcy, Bankruptcy Myths, Bankruptcy Statistics, Texas Bankruptcy

Fact or Fiction? If I file for bankruptcy in Texas, everyone will know.

Many people won’t even consider filing for bankruptcy because they fear that everyone they know will find out. It’s a valid concern, too. No one wants the whole world to know his or her private affairs.

That’s where we have good news. If you file for bankruptcy in Texas, the whole world won’t automatically know. (more…)