If you own a small business and need help reorganizing your debts, Chapter 13 bankruptcy may be an option to consider. This Chapter can help you develop a repayment structure based on income earnings, type of debt, and expenses you have, and ultimately keep your assets and business in operation. Chapter 13 plans typically last [...]
Is a private contract made between spouses in a pro se divorce case considered a non-dischargeable domestic support obligation under the United States Bankruptcy Code? Dixon v. Bellard This article is a case summary of late-breaking case law in the United States Bankruptcy Court for the Northern District of Texas, Amarillo Division. This article is [...]
Anyone who has lost their job or experienced a significant change in their income earnings may wonder if bankruptcy is an option to consider, especially if they feel they will be unable to make payments on their obligations. While you may feel you should begin the process right way, you may want to analyze your [...]
Tough times happen for all types of people, especially when it comes to finances. Fortunately, the federal government understands that individuals and business owners may find themselves facing insurmountable debt, and as a result, searching for solutions to a very real problem. The U.S. Bankruptcy Code was created to help “honest but unfortunate” debtors who [...]
If you are struggling with overwhelming debts, debt settlement and bankruptcy are two options that can help you regain good financial health. While many people are familiar with the word “bankruptcy,” debt settlement is less well known, and the differences between both options are unclear to many. For the benefit of our clients, this blog [...]
You may hear about why it is important to review your credit report annually to make sure information is current and being reported properly to the credit bureaus. But anyone considering bankruptcy should also review their credit report before filing bankruptcy to make sure they include all of their creditors in their documentation and schedules. [...]
The state of Texas, along with a few other states, may not allow creditors to garnish wages to satisfy debts, except for special circumstances such as spousal / child support, student loans, and federal taxes. A wage garnishment is when a creditor receives permission from the court to withhold payment from paycheck earnings and have [...]
Chapter 13 Bankruptcy is known as the “wage earner plan” because it allows debtors who have some amount of disposable income to retain their property and make payments toward their debt over the span of several years (usually five). The bankruptcy means test will typically determine if this Chapter of bankruptcy is most appropriate for an individual. Debtors considering [...]
If you file personal bankruptcy, it can take a significant toll on any business ownership in your name, depending on how the business was legally organized and the type of bankruptcy petition filed with the court. Under United States bankruptcy code, there are two types of filings for individuals; they are indicated by "Chapter" numbers, [...]
Getting the outcome you deserve for your financial situation includes having the right legal representation in your corner. Taking time to choose an experienced bankruptcy attorney may save you headache and frustration down the road, and can make all the difference in the outcome of your case. Debtors have been known to choose an attorney [...]
