Bankruptcy

If you have made it to this page, then you likely have questions about the possible ways to cope with your financial situation.  If you are like most of my former clients, you’ve never had an intention to file for bankruptcy.  But my experience has taught me that the need to file bankruptcy is usually brought about by some force that is outside of your control.  Whether you’ve had a job loss, reduction in income, sickness or injury, or you’ve gone through a divorce, most financial hardships are brought about by unforeseen circumstances.  

The decision to file bankruptcy is highly dependent on your personal situation and should be discussed in detail with an experienced bankruptcy attorney.  But I also understand that you may have general questions regarding how bankruptcy works and what you could expect before you would like to take the step of meeting with someone about your situation.  I have therefore written a few articles about a couple of the types of bankruptcy that might be applicable to your situation and have tried to answer some of the most common questions I receive when meeting with clients.   Of course, please remember that this information is general in nature and may or may not apply to your specific situation.  If you would like to discuss your situation with a local, Abilene attorney, please give me a call at 325-261-3005 or email me at ara@ashtonandersonlaw.com.

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Bankruptcy Exemptions: What Property do I get to Keep?

A couple of the questions I encounter most when meeting with people about bankruptcy are “do I have to sell all my property if I file for bankruptcy?” and “what property do I get to keep if I file for bankruptcy?”  The answer to the first question is No.  The answer to the second question […]

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What is a Chapter 13 Bankruptcy? Eligibility and Process

A Chapter 13 Bankruptcy allows for a restructuring or reorganization of debts for a person with regular income.  This chapter of bankruptcy allows you to pay back all or a portion of your debt over a period of 3-5 years.  At the end of this payment period, any unsecured debt which has not been paid […]

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What is a Chapter 7 Bankruptcy? Eligibility and Process

A Chapter 7 Bankruptcy is what I think most people think of when they think of bankruptcy.  It is a 3 to 4 month process, at the end of which your unsecured debts (credit cards, personal loans, some hospital bills) are discharged.  This means that you no longer have any personal liability on these debts. […]

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