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Petition for Bankruptcy on an office table.

In the first nine months of 2021, 14,662 Texans filed for protection under the bankruptcy code. Most of them – 9,507 or 65 percent – chose Chapter 7 liquidation, while 30 percent, or 4,441, opted for reorganization and repayment under Chapter 13. The others, because of high debt or owning a business, relied on Chapter 11.

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Petition for Bankruptcy on An Office Table

Overwhelmed by debt? Creditors calling almost every day? You may want to put an end to nonstop collection efforts, but you might not be sure you want to go the bankruptcy route. After all, bankruptcy means you can lose almost everything, doesn’t it?

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Little white house sitting grass

The COVID-19 pandemic brought about serious financial and health challenges for many American households. A significant number of individuals and families were unable to keep up with their mortgage payments. To cushion the effect, the government provided mortgage forbearance relief for the affected homeowners. According to Forbes, there are an estimated 1.6 million homeowners currently in various phases of forbearance. ...

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A cardboard house cutout with a gavel and laptop next to it

There were nearly 33,700 properties with foreclosure filings during the first quarter of 2021. Although the Covid-19 pandemic moratorium on foreclosures markedly decreased the number of them from the same quarter of 2020, they were still up 9% from the last quarter of 2020. The safety net that supported so many homeowners for a time is gone. For those who ...

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Couple going over bankruptcy documents in their kitchen

According to statistics from the American Bankruptcy Institute, there were 26,723 total bankruptcy filings in Texas in 2020. Unexpected life events can make meeting financial obligations difficult for married couples. Spouses facing financial distress may decide to file for bankruptcy either individually or together. Understanding how filing for bankruptcy affects your spouse is crucial to help you make the right ...

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Debt collector looking over a document

Filing for Chapter 7 or Chapter 13 bankruptcy can help you get financial relief when overwhelmed with debt, with all qualifying debts being discharged. Once your debts are discharged by the court, it means you will not have to repay them, and the lender can't make any attempt to collect such debts. Unfortunately, some creditors may fail to honor your ...

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Woman looking over documents

Filing for bankruptcy may seem like a last resort, but it can give you the financial freedom to move forward with the next chapter in your life. If you have decided to file for bankruptcy, you may be wondering where to start and what you need to know about the process. Luckily, we are available to discuss your options with ...

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Gavel resting on chapter 13 bankruptcy documents

Choosing to file for bankruptcy is a major decision. So is choosing which type of bankruptcy you file. Thousands of individuals and businesses make these critical choices every year. Everyone deserves a new start. The question is which path you should take to get there.

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Little white house sitting grass

According to statistics from The American Bankruptcy Institute, in 2020, there were about 26,143 bankruptcy filings in Texas. Individuals going through financial hardship can file bankruptcy to get relief from debt or a needed fresh start.

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