One common misunderstanding about bankruptcy is the belief that when you file you have to give up your possessions. In Texas, that is usually not the case. Chapter 13 bankruptcy involves no liquidation, meaning the trustee does not take any of your assets when you file. All money paid to creditors in this type of […]
Wage garnishment is the process employed when a creditor seizes money from your paycheck in order to satisfy payment of a debt. In Texas, most creditors don’t have the right to garnish your wages, but there are three important exceptions. First, student loan creditors have the right to garnish wages when the borrower has defaulted […]
In 2005, the Bankruptcy Code was rewritten, and included in the changes was a requirement that debtors take two courses related to financial management. The first course is on the topic of credit counseling. This course helps the student analyze their financial situation and consider their options for reducing and/or eliminating their debt. Almost all […]