Call us today for a FREE debt consultation: 214-760-7777

Loading...

Do I Have Enough Debt To file Bankruptcy?

enough debt to file bankruptcyDo I have enough debt to file bankruptcy?

That’s a good question.

Many, if not most, of our clients eliminate a substantial amount of debt in filing a bankruptcy case.  However, this is not the only criteria.  A good number of our clients do not have any unsecured debt. They are behind on home and/or car payments and need some relief to catch these payments up.  Other clients want to rebuild their credit.  There are so many criteria in deciding whether to file a bankruptcy case that it is important to seek the advice of an experienced bankruptcy attorney who can walk you through all the different options that are available to you.

Call today for a FREE Debt Consultation.
Call toll free 214-760-7777.

By |2013-07-29T23:00:12-05:00July 29th, 2013|Bankruptcy, Debt|
Read More

Infographic – A Generational Approach of College Student Debt in the U.S.

student-loan-infographicIt’s no secret that student loan debt is a problem in America. Tuition costs continue to skyrocket, and paired with shrinking government financial aid, student loan debt is now the number one debt problem for young Americans.

Just two weeks ago, Congress failed to stop an automatic interest rate hike for Federal Stafford Loans, which doubled interest rates from 3.4% to 6.8% – so the problem just compounded for undergrads across the country. The student loan situation looks pretty bleak for future generations as well.

We stumbled across this infographic this morning and had to share it. It shows the history of college tuition and student loan costs from the 1940’s to today. A few of the staggering stats include:  (more…)

By |2013-07-18T09:34:51-05:00July 18th, 2013|Debt, Student Loan Debt|
Read More

The 2 Income Trap

Working ParentsTwo children, two incomes, a home with a white picket fence; it’s the quintessential American Dream. However, this American Dream has morphed into a survival regimen that many families simply cannot endure.

Parents are in worse economic shape than ever before. Married couples with children are twice as likely as childless couples to file bankruptcy. According to the authors of the book, “The Two Income Trap,” having a child is the best indicator of whether someone will end up in financial collapse. The book was written by Elizabeth Warren and Amelia Tyagi, a mother and daughter team (Harvard law professor and MBA) who did an extensive study on the nature of bankruptcy in America.

The authors maintain that the introduction of mothers into the workforce, rather than easing the financial strain of raising a family, sets their families up for financial disaster as the cost of raising children spirals out of control. More children will go through their parents’ bankruptcy than their parents’ divorce. One in seven middle-class families will file bankruptcy this year. These figures are staggering for middle class families.

(more…)

By |2013-07-15T14:16:30-05:00July 15th, 2013|Bankruptcy Statistics, Personal Finance|
Read More

Are You Eligible For Chapter 13 Bankruptcy?

Chapter 13 bankruptcy eligibilityOne question that we hear all the time is “can I file for Chapter 13?” Chapter 13 bankruptcy has several important restrictions. If you’re looking for a solution to your debt problems, your first step is to see whether or not you legally qualify for a Chapter 13 Bankruptcy.

Businesses Cannot File for Chapter 13 Bankruptcy.
Corporations and Partnerships cannot file under Chapter 13 Bankruptcy. On the other hand, if you own a business as a sole proprietor, you can file for Chapter 13 bankruptcy as an individual and include the business-related debts for which you are personally liable.

You Must Have Stable and Regular Income.
You must have stable and regular income to be eligible for Chapter 13 bankruptcy. That does not mean you must earn the same amount every month, just that the income is steady. In other words, your income must be likely to continue and it must be periodic – weekly, monthly, quarterly, semi-annual, seasonal or even annual. Here is a list of some types of income you can use to fund a Chapter 13 plan: (more…)

By |2013-06-24T10:00:28-05:00June 24th, 2013|Bankruptcy, Debt|
Read More

5 Reasons To File Chapter 13 Bankruptcy

reasons to file Chapter 13 bankruptcyLast week we discussed the benefits of filing Chapter 7 bankruptcy. While it has some pros, it’s not always the right fit for everybody. That’s when you look at Chapter 13 bankruptcy.

Today we’re going to explore five main reasons why people choose to file Chapter 13 bankruptcy.

1. Stop Foreclosures, Repossessions and Garnishments

The second you file Chapter 13 bankruptcy, banks and other creditors have to cease their collection efforts. That means that they can no longer foreclose on your house or repossess your vehicle.

This halt in collections can be stopped for the entire duration of the case, which can last as long as five years, whereas with a Chapter 7 bankruptcy, the creditors must only stop for a few months.

(more…)

By |2013-05-16T08:19:24-05:00May 16th, 2013|Bankruptcy, Debt, Personal Finance, Repossession|
Read More

The Benefits of Filing Chapter 7 Bankruptcy

Chapter 7 Bankruptcy benefitsFiling 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

(more…)

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

How To Get Your Free Credit Report and What To Look For

credit cardsIn 2003 the Fair and Accurate Credit Transactions Act was passed, giving you the right to get one free credit report a year from each of the three reporting agencies – Equifax, Experian and TransUnion.

How To Get Your Free Credit Report

To order your free credit report, you can call 1-877-322-8228 or visit AnnualCreditReport.com, which was set up by the three agencies in coordination with the Federal Trade Commission.

Don’t try to get a report from any other website, as many are scams that offer “free” reports, scores and other services that really have fine print. These “free” services have trial periods that automatically switch to paid services without alerting you. Other sites only want to collect your personal information. Please be careful and type in the address correctly. AnnualCreditReport.com is the only official site.

(more…)

By |2012-05-31T10:31:45-05:00May 31st, 2012|Personal Finance|
Read More

Busting Two Myths About Repossession

repossessionRepossession is not a fun thing. Losing your car, truck, motorcycle or boat can be embarrassing and inconvenient.

But just like anything in life that people hope to avoid, there are a few misconceptions that the general pubic has about the process of repossession.

If you find one of your vehicles in danger of being repossessed, the best weapon is knowledge. With that, you will be able to make informed decisions.

Repossession Myth #1: My vehicle can’t be repossessed until I’m at least 2 months behind on payments.

This is absolutely untrue. While bill collectors generally wait until at two or three months worth of missed payments, they can take your vehicle away if one payment is one day late.

(more…)

By |2012-04-25T08:00:38-05:00April 25th, 2012|Bankruptcy, Debt, Personal Finance, Repossession|
Read More

Have Money Management Habits You Can Be Proud Of

Bad habits aren’t things that we’re proud of. The good thing about bad habits, though, is that we can break them. It takes discipline, motivation and commitment, but we can break bad habits.

Changing Money Management Habits

If you have some questionable money management habits, then the first thing you need to do is identify them.

Next, you must write them down. Committing these to paper does a few things. It creates a record of where you started, shows that you’re serious about altering your behavior, and adds accountability to your project to change.

Here’s an example list of poor habits that need to be changed:

My Poor Money Management Habits

  • I rarely save money.
  • I splurge and spend money on things that I don’t necessarily need.
  • I often pay bills after the due date.

(more…)

By |2012-04-18T10:29:35-05:00April 18th, 2012|Money Management, Personal Finance, Saving Money|
Read More

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…)

By |2012-03-14T12:34:27-05:00March 14th, 2012|Bankruptcy, Bankruptcy Myths, Bankruptcy Statistics, Texas Bankruptcy|
Read More

Call our expert bankruptcy attorneys today: 214-760-7777

© Copyright 2026 Rubin & Associates, P.C. | All Rights Reserved | Your Privacy is Important

We are a debt relief agency; our debt relief lawyers help people file for bankruptcy under the United States Bankruptcy Code.

Go to Top