Most people associate Chapter 7 bankruptcy with consumers who have accumulated a significant level of debt and need a fresh financial start. However, Chapter 7 bankruptcy can also be filed by Texas businesses that need to unload specific debts as well. It is even...
Standing Tall When It Matters Most
Chapter 7
What does a corporate bankruptcy mean for shareholders?
Shareholders of a company never want to hear the word bankruptcy because the shares of a company will lose most or all their value. The exchange may delist them during bankruptcy. Investors can still trade securities during bankruptcy in Texas; there's no law to stop...
The basic process of Chapter 7 bankruptcy for LLCs
Every Texas business has a limited number of options for eliminating their debts. Filing for bankruptcy is one solution, but it may lead to the liquidation of a business's assets and its final dissolution. There are different advantages and disadvantages for a Limited...
What debts cannot be discharged in bankruptcy?
Bankruptcy might be the best option for Texas consumers who are overwhelmed by their financial obligations. For many, Chapter 7 bankruptcy is best. However, it’s important to know which debts cannot be discharged. What is nondischargeable debt? Many debts can be...
Considering bankruptcy? Learn about Texas’s homestead exemption
It can be extremely nerve-wracking to make the decision to go through with filing for bankruptcy. If you are considering taking that route to deal with your financial challenges, you may have concerns about losing everything and having to start over from scratch. The...