Frequently Asked Questions
For most Texans, filing for bankruptcy may feel overwhelming, but it is important to remember that you are not in it alone. At Amarillo-based Swindell & Associates, P.C., we are always prepared to answer any questions you may have. We have compiled a list of frequently asked questions and their answers. We look forward to discussing your concerns with you as we guide you through the personal bankruptcy process.
- Who can file bankruptcy?
- I originally filed Chapter 7 bankruptcy, but I want to file for Chapter 13 instead. Am I permitted to change from one chapter of bankruptcy to another?
- My spouse is filing for bankruptcy but I am not. How does this work?
- I am divorced. Does this protect me from me from creditors if my former spouse files for bankruptcy?
- I co-signed on a loan for my brother. Can I be held responsible for the debt if he declares bankruptcy?
Turn the page to a positive financial future
If you are from the greater Houston area and considering filing for Chapter 7 or Chapter 13 bankruptcy to resolve your financial situation, Amarillo's Swindell & Associates, P.C. can help. Call us and start preparing for a better tomorrow, today.
Who can file bankruptcy?
Any individual or business owing money to a creditor can file for bankruptcy.
I originally filed Chapter 7 bankruptcy, but I want to file for Chapter 13 instead. Am I permitted to change from one chapter of bankruptcy to another?
Yes, typically you are permitted to convert a case one time to any other chapter for which you are eligible. While the change can be accomplished with a simple letter, complications can arise. Consult an experienced personal bankruptcy lawyer to help ensure a smooth transition and positive outcome to your bankruptcy case.
My spouse is filing for bankruptcy but I am not. How does this work?
Your spouse can file for bankruptcy without you, however you could still be responsible for the debts. Discuss this option with a skilled personal bankruptcy attorney before making a decision.
I am divorced. Does this protect me from me from creditors if my former spouse files for bankruptcy?
No. You can be held accountable for any debts you co-signed on with your former spouse while married—even if your divorce decree assigns the full debt to your ex. However, your divorce decree may detail any potential recourse you can take against your ex-spouse should he default on loan obligations.
I co-signed on a loan for my brother. Can I be held responsible for the debt if he declares bankruptcy?
Yes. If the principal on a loan—in this case, your brother—declares bankruptcy, the lender can require you as co-signor to make payments on the loan.
