In the most recent case of bankruptcy attorneys gone bad, attorney William Kaplan's license was suspended for misconduct which once again brings to light the importance to retaining a competent bankruptcy attorney. This bankruptcy attorney's license was suspended; but many have already been negatively impacted by his incompetence. The Board of Commissioners on Grievances and [...]
Chapter 11 bankruptcy has become almost a like a "miracle cure" for companies around the country. At the onset of the recession and foreclosure crisis, many companies desperately sought the protection of Chapter 11 bankruptcy, went through the bankruptcy process and emerged more stable and more profitable. But how is it that bankruptcy can help [...]
Debtors delay bankruptcy for many reasons and while there may be some legitimate reasons to delay bankruptcy most of them are not legitimate. Below are four bad reasons for delaying bankruptcy: You're hoping that you will "come into" some money soon, (new job, salary increase, lotto winning etc.) and that it will be enough to [...]
In the state of Texas there is a four year statute of limitations on the ability of debt collectors to sue a debtor because of an unpaid credit card debt. What that means is that if after your credit card debt is charged off, a debt collector only has 4 years to sue you and [...]
Many debtors considering bankruptcy are active members of their church, synagogue or mosque and committed to donating a certain amount of money to the organization. Filing for bankruptcy does not mean that a debtor's charitable contributions must stop. Debtors, who file for bankruptcy, are allowed to give to a charitable organization (including religious organizations) and [...]
Unfortunately, there are a whole lot of bankruptcy myths out there, many of which lead people to fear bankruptcy as the boogie man in the closet that will destroy their financial well-being. Many times, exactly the opposite is true! In the right circumstances, bankruptcy can provide the fresh financial start that so many consumers need [...]
In the bankruptcy case of Denger, Angela and Heath; In re the bankruptcy court denied a debtor's request to waive the financial management class. The details of the bankruptcy case: "The Chapter 7 debtor was in prison. He asked that the financial management course be waived because prison officials told him that it was impossible [...]
If you've been hanging around any of the debt or bankruptcy forums, you've probably run across the phrase "judgment proof." But does it really mean? When a debtor is judgment proof, it usually means that he/she does not have assets that can be liquidated even if a creditor has a judgment against the debtor. For [...]
Most debtors who file bankruptcy are in a tough spot when it comes to their cars. Most of the time debtors who owe more on their cars than they're worth and really don't have room in their budget for a car payment still need a car to get to/from work. So what is a debtor [...]
Many debtors considering bankruptcy are often hesitant because they're not sure if they have crossed the line between just struggling financially and being completely bankruptcy. Rules of thumb to follow when considering bankruptcy: If you're three months or more behind on your mortgage payment and are unable to secure an affordable mortgage modification or other [...]