Filing for bankruptcy protection isn’t anyone’s first choice, but it can be one of the best things you can ever do for yourself when you’re in a seemingly intractable situation financially. When consumers are faced with crippling debt which they are simply unable to repay, a Chapter 13 or Chapter 7 bankruptcy Dallas may be…
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Bernie Kosar (NFL Quaterback)
Former NFL quarterback Bernie Kosar filed for bankruptcy. He was a star at the University of Miami, then played in the NFL for Cleveland, Dallas and Miami. His Chapter 11 filing listed assets between $1 million and $10 million and liabilities of between $10 million and $50 million, including more than $9 million for bad…
Involuntary Bankruptcy
Most bankruptcy cases are filed by the debtor himself. These are “voluntary” bankruptcies (although few would “volunteer” to be in this position). Not all bankruptcy proceedings are voluntary, however. Under Chapters 7 and 11, creditors also have the option of filing for relief against the debtor, in which case the proceeding is called an “involuntary…
Getting a Car After Bankruptcy
Even when it’s painfully obvious that they need to file bankruptcy, lots of my clients hesitate to file because they are absolutely scared to death about their car. Some worry that they will lose their car if they file bankruptcy (you won’t lose it). An even greater number of my clients worry that they’ll never…
Documents to have when filing bankruptcy
If you are considering filing for bankruptcy, there are things that you should make sure to save and have available, just in case. If people keep good records, the process is much easier and they can proceed without much difficulty. Many people shred or throw away information, not knowing that they may need it later….
Non Bankruptcy Alternatives
Dealing with creditors on your own First, you must realistically determine how much TOTAL you can afford to pay per month toward your debt. To figure this, you must make a budget of what living expenses you incur so that you can figure what, if anything, is left over to apply to the debt. Once…