Thankfully, a fast divorce is possible in Texas.
How Fast Can You Get Divorced? It Is Up To You.
Texas requires a 60 day waiting period from the time that the Original Petition for Divorce is filed and when the divorce can be finalized. While this means it is possible that a divorce could be finalized on the 61st day, the actual amount of time it takes will depend a great deal on how well you and your spouse are able to work together to reach agreements about property division, child custody and other matters.
If you are willing to reach agreements and make compromises if necessary, you may be able to have your divorce finalized in a matter of months.
An Experienced Attorney Can Increase Efficiency
There are other factors that can impact the divorce time frame, including your attorney's ability to complete all the necessary work on time.
This is where it becomes beneficial to work with an attorney who is experienced in and focused on family law. You want someone on your side who is well-versed with the documentation that needs to be completed, and who can smoothly navigate all courtroom processes. You want someone who handles these matters on a daily basis and knows how to usher you out of your marriage with efficiency and care.
]]>Stricter Requirements For Negative Information From Lenders
According to an article from Forbes, beginning July 1st, credit reporting agencies will now require that negative information regarding tax liens and civil debts include the customer's name, address and either Social Security number or date of birth.
You may be surprised to find that this was not already a requirement. Unfortunately, lenders frequently provide negative information that is incomplete, resulting in mistakes that can have a serious impact on a person's credit score. Now, if negative information is submitted incomplete, it will not be allowed to hurt a credit score.
Sometimes The Problem Is Not The Credit Score, But The Underlying Debt
If you are overwhelmed with debt and it is impacting your credit score, this new change may not have a huge impact. However, there are options available.
Bankruptcy is a trusted method for overcoming debt. Some people believe that bankruptcy will have a further negative effect on a credit score. In reality, filing bankruptcy resolves the problems that led to a low credit score and offers the opportunity to rebuild.
If you are interested in getting out of debt, you should discuss your situation with an experienced lawyer.
]]>But what are the medical conditions that are proving most costly to Americans? That is the question answered by a recent academic study.
The Most Expensive Medical Conditions
The study found that the most expensive medical conditions in the United States are:
While these are the health conditions that Americans spent the most on cumulatively, that does not necessarily mean that they are the most expensive treatments on an individual basis. The cost of care for cancer treatment and other serious or potentially terminal conditions, as well as any conditions that require surgery, tends to be expensive. The unfortunate reality is that, even with insurance, there are many medical diagnoses that can be as devastating to a person's finances as they are to their health.
Medical Debt Can Be Overcome
What people left with medical debt because of expensive medical treatment need to know is that they have options. This debt can be overcome by filing bankruptcy.
Bankruptcy has proven extremely effective in eliminating unsecured debt. Medical debt, along with credit card debt and other common forms of debt, is unsecured debt. If you have struggled to catch up and are not able to find solid financial ground, you could benefit from a conversation with an experienced bankruptcy attorney.
]]>However, with a new president in place, there is fear that the ACA, also known as Obamacare, will be repealed or, at the very least, substantially overhauled. What would this mean for medical debt?
The ACA's Impact On Medical Debt And More
With the advent of Obamacare, more people have health insurance in the U.S. than ever before. Not only does this mean people have fewer out-of-pocket expenses to struggle with in the event of a medical emergency, the ACA also features other provisions. For example, it changed how nonprofit hospitals went about collections actions.
While it is clear that changes are likely in terms of how health care is handled in the U.S., the nature of those changes is still being determined.
Relief For Those With Medical Debt Now
People struggling with medical debt need to know that they have options, regardless of the fate of Obamacare. One of those options is bankruptcy. Medical debt can be discharged in a Chapter 7 bankruptcy or included in a Chapter 13 bankruptcy repayment plan.
As the CNN Money article points out, medical debt collectors are aggressive. The vast majority of people who reported being contacted by debt collectors indicated it was for medical care. If you are tired of the stress of dealing with debt collectors and want a permanent solution to your debt problem, talk to a bankruptcy lawyer today.
]]>The Rules Are Being Ignored
The article references survey results collected by the Consumer Financial Protection Bureau. Even though the law requires that debt collectors stop calling if they have been asked to do so in writing, the survey shows that the calls usually keep coming.
Furthermore, the law limits creditors to calls between eight in the morning and nine at night. However, the survey shows that many are ignoring these guidelines. Debt collectors are also calling multiple times a week, and many consumers report feeling threatened by debt collectors, even though threats are illegal.
While the CFPB and other parties have taken action against creditors who break the rules, and new regulations are being proposed to protect consumers, the fact remains that debt collection is a billion dollar industry that does not seem interested in following the rules.
What Can You Do To Stop Creditor Harassment?
There is a way to put an end to harassing creditor calls and resolve the underlying debt problem: bankruptcy. Filing for bankruptcy comes with an automatic stay that is designed to stop all calls from creditors. If the creditor willfully violates the automatic stay, the creditor could face consequences and be required to pay you.
If you are interested in getting out of debt and living a life without fear of answering the phone, you should discuss your case with an experienced bankruptcy lawyer.
]]>Grounds For Divorce In Texas
Insupportability is the sole no-fault grounds for divorce. A marriage may be considered insupportable on the basis of "discord or conflict of personalities that destroys the legitimate ends of the marital relationship and prevents any reasonable expectation of reconciliation." In other words, this is when spouses simply can no longer get along.
You can also file for divorce on the following fault grounds:
When Is It Appropriate To File On Fault Grounds?
It is important to note that, even if there was fault, the divorce does not have to be filed on fault grounds. For example, if you believe your spouse was cruel or committed adultery, you can still file on the grounds of insupportability. If you choose to file on fault grounds, you may be asked to prove fault. A divorce case may become much more embattled because of it. On the other hand, proving that the other party was at fault could have an impact on the outcome of the divorce, and that may be worth fighting for.
The key is to discuss the situation with an experienced attorney who can offer guidance and help you carefully analyze all available options so that you can choose the one that makes the most sense to you.
]]>When The Repo Man Helps You Pay Off Your Debt
The article tells the story of an elderly couple who fell behind on their car payments - $350 behind, to be precise. The bank contacted a repossession agent to repossess the car. When the agent arrived to get the car, he found a kind elderly couple struggling to make ends meet. But he had a job to do, so he did it.
Then he did something else: He took the car, but instead of returning it he kicked off a quick online fundraising effort and got the money needed not only to get the elderly couple current on their payments, but to get the car an oil change and have it detailed.
Don't Count On It
This is a great story of kindness, but the truth is that most people who fall behind on payments and become overwhelmed by debt are good people. More often than not, they have fallen victim to unexpected circumstances: the loss of a job or a medical problem. They certainly do not want to be in debt. Not everyone can get a break from the repo man, or the repo man wouldn't be in business for much longer.
Do not expect to negotiate with the repossession agent or to try to talk him or her out of taking your property. The agent has a job to do. However, that does not mean that you are out of options. Bankruptcy is a proven method of eliminating debt.
Bankruptcy Stops Repossession
As soon as you file for bankruptcy, an automatic stay goes into place that prevents your creditors from taking any action against you, including repossession. However, many people believe that if they file bankruptcy they will have to give up their assets anyway, including their car or whatever was going to be repossessed. This is not necessarily the case. Thanks to bankruptcy exemptions, few people lose any assets in bankruptcy.
If you are struggling with debt and have been threatened with repossession or even foreclosure, you should speak with an experienced bankruptcy attorney who can educate you about your options for regaining control of your financial situation.
]]>Explore Your Debt Relief Options Now
There are many businesses out there offering to guide you toward debt relief and financial stability. Many people turn to debt consolidation agencies for help. Unfortunately, some of these businesses are scams, while others simply do not have the legal strength to make a difference.
Debt consolidation companies may be able to negotiate a payment plan with one or more of your creditors in some situations, although they have little leverage to encourage creditors to agree to a plan. They might not be able to stop interest and fees, and your creditors could still take action against you. People often pay these businesses for years, only to end up in further trouble without making a dent in their debt.
Bankruptcy is a trusted debt relief option. It can effectively allow you to tackle unsecured debt like credit card bills and medical bills. Bankruptcy can be used to stop foreclosure, prevent repossession and halt wage garnishment.
Perhaps you are reluctant because you have heard that you will have to give up some or all of your assets if you file. You may be surprised to learn that this is a myth. In fact, most of the negative things people have heard about bankruptcy are myths. The reality is that bankruptcy is not meant to punish you. It was specifically designed to help people who have become overwhelmed by debt.
Want To Start The New Year Debt Free?
You can learn more about bankruptcy and debt relief in a free consultation. At Wm. Barry Phillips, P.C., we have decades of experience helping people like you achieve debt relief. We are happy to review your situation and explain your options for overcoming your debt in the new year.
]]>Timing
Chapter 7 allows for a fairly quick discharge of debt. The process is often finished in half a year or less. Chapter 13, on the other hand, allows for the creation of a repayment plan that will last from three to five years.
Secured And Unsecured Debt
Chapter 7 is a great tool for tackling unsecured debt like credit card bills and medical bills. Chapter 13 lets you overcome unsecured debt and also allows you to include secured debt such as your mortgage or car payments in your repayment plan.
Your Property
While exemptions typically allow people to keep most, if not all, of their assets in Chapter 7, there is a possibility of some assets being liquidated in order to pay off debt. A Chapter 13 repayment plan does not require asset liquidation.
Co-Signers
If anyone has co-signed on a debt and that debt is discharged in Chapter 7, the co-signer may still be liable for the debt. In Chapter 13, the co-signed debt can be paid off through the repayment plan, protecting the co-signer.
Filing Again
Ideally, you will not have to file bankruptcy again. Unfortunately, real world circumstances often put people in tough financial positions more than once. There are strict time limits on when you can receive a subsequent Chapter 7 discharge. The time frame is much shorter for repeating the Chapter 13 process.
How To Decide Between Chapter 7 And Chapter 13?
For most people, the decision between Chapter 7 and Chapter 13 will be driven by debt load, assets that need protecting and income level. To help you determine the option that makes the most sense in your situation, you should consult an experienced bankruptcy lawyer.
]]>Texas Is A Community Property State
Regardless of who purchased it or whose name is on it, the majority of property obtained during the marriage is considered community property. It belongs to both spouses and is subject to division during a divorce.
Property obtained before the marriage is considered separate property. Inheritances, gifts and awards from personal injury claims are also considered separate property, regardless of when they were obtained. Separate property is not subject to division during a divorce. However, each spouse must prove that the property is indeed separate.
Just And Right Division Of Community Property
Under Texas law, community property must be divided in a manner that is just and right. This does not necessarily mean that property will be divided equally. The circumstances must be taken into consideration. Circumstances that could impact how property is divided include differences in income, each spouse's health, child custody arrangements and even who was at fault in the ending of the marriage.
Who Decides What Is Just And Right?
Spouses can work together to negotiate how community property will be divided. Techniques like mediation may be employed. If spouses cannot work together, the matter may be taken to trial for a judge to decide what is just and right. In either case, people going through a divorce can benefit from the guidance of an experienced attorney.
An attorney will review your case and help you bring all factors to light that may influence how property should be divided. An attorney will identify and protect your separate property. An attorney will explore the many nuances involved in property division, from who gets the family home to dividing retirement benefits and businesses. The goal is to help you transition comfortably into your new life.
]]>