Why is the Dallas Bankruptcy Rate Rising? The downturn of the American economy has its share of casualties and victims. Millions of Americans are burdened by strangling debt-- even in areas as affluent as Dallas, Texas the financial devastation can be seen. After years of tightening the belt and cutting expenses, area businesses have been [...]
Bankruptcy and Financial Aid According to a report released by the U.S. Department of Agriculture, more than 42.9 million Americans are collecting food stamps. In Texas alone, 15.5% of the population is receiving food stamps as more Americans find themselves struggling financially as the economy continues to sour. For Texans considering bankruptcy, or already going [...]
We've talked a lot about planning bankruptcy exemptions and strategizing with your bankruptcy attorney to fight a challenge to your bankruptcy discharge; but what about the planning necessary to ensure your financial success after your bankruptcy discharge? Below are a few steps every debtor should take to increase their chances of financial success after bankruptcy: [...]
Signs That You Need to File Bankruptcy Now Delaying a necessary bankruptcy is a common mistake amongst debtors. But many debtors put off filing bankruptcy because they genuinely do not know when it's a good time to file. Many pundits insist that debtors do all they can to avoid bankruptcy even when the warning signs [...]
Lies About Bankruptcy It's a funny thing that in a society where a sizable portion of the population is mired in mountains of debt, the idea of discharging those debts is often seen as less than admirable. Many people will even go as far as criticizing those who file bankruptcy despite not knowing their full [...]
Things Debtors Filing for Bankruptcy Should Consider Before Buying a Vehicle Many debtors considering bankruptcy are concerned about their ability to get to work and that means their ability to purchase a dependable vehicle if necessary. Below are a few things debtors filing for bankruptcy should consider BEFORE they invest in a new vehicle: Do [...]
Have You Had a Bankruptcy Discharge Revoked? So you've got your bankruptcy discharge and you're on your way to creating a successful life after bankruptcy; but wait ...you receive notification that your bankruptcy discharge may be revoked. What went wrong? Revoking a bankruptcy discharge is not as common as you would think; but they happen. [...]
When a debtor files for Chapter 7 bankruptcy and has debt with a co-signer, they automatic stay will NOT apply to their co-signer. However, if the debtor is filing Chapter 13 bankruptcy , the co-signer will be protected by the automatic stay under most circumstances. Here's what you need to know: The automatic stay in [...]
In the Chapter 11 bankruptcy case of Bigler LP, the bankruptcy judge denied confirmation for the bankruptcy plan because it included language that was overly broad in releasing third parties from liability. In effect, Articles VIII and X of the plan ... prevent creditors and shareholders from pursuing most potential claims or causes of action [...]
Bankruptcy and Selling Your Home Many debtors considering bankruptcy are also considering selling their home because they can no longer afford the payment or simply because they want to reduce expenses. Things to Consider Before Selling Your Home When deciding if it is beneficial to you to sell your house before or after bankruptcy there [...]