One of the biggest mistakes of pro se bankruptcy debtors is that they often ignore bankruptcy exemptions to their detriment. It's not that they believe the exemptions are unnecessary, it's just that they don't understand the exemptions or they aren't aware that they have access to them. Below are a few things you need to [...]
Texas Homestead Exemption According to Texas state law, a homeowner's profits from the sale of their homestead is exempt from creditor claims for six months. However, if a debtor is considering selling their home and filing bankruptcy, there are a few things they should consider first: No Compulsion To Sell A creditor cannot foreclose on [...]
Fair Debt Collection Practices Act and Your Rights Debtors facing collections actions by creditors have a specific set of rights as defined by the Fair Debt Collection Practices Act (FDCPA). Let's take a look at a few of these rights: The Right To Know A debtor facing collections actions by a third-party collector has the [...]
In a recent Chapter 13 bankruptcy case, the bankruptcy court significantly reduced both damages and attorney's fees awarded to a debtor who was the victim of an automatic stay violation. The bankruptcy court argued that the debtor engaged in behavior that contributed to his own large amount of legal fees and that his pre-bankruptcy behavior [...]
Financial education has always been highlighted as one of the keys to success - and when you've just declared bankruptcy, it's more important than ever to stay on top of important (and often confusing) financial terms. After all, many brilliant consumers often crumble in the face of confusing or unclear financial terms - and the [...]
Fox Sports is calling for the dismissal of the Dodgers bankruptcy case and the Dodgers are suing Fox Sports news in the latest twist in a sports team Chapter 11 bankruptcy that continues to become more brutal by the week. The last twist in the bankruptcy drama had MLB commissioner Selig agreeing to allow McCourt [...]
You've heard the words over and over: if you've declared bankruptcy, you need to learn how to live within a budget. Like with most things, a budget looks great on paper - yet can be one of the hardest things to follow, especially if you have a family. Fortunately, living within your means isn't impossible; [...]
Filing Bankruptcy Before a Creditor Files a Lawsuit While bankruptcy offers a tremendous amount of protection for debtors even after a creditor files a lawsuit, filing bankruptcy before any lawsuit is filed against you may be a better strategy. Here's why: Pre-Bankruptcy Wages Unprotected If a creditor files a lawsuit and eventually garnishes a debtor's [...]
If you're filing Chapter 13 bankruptcy, it's possible that your life could change significantly during the course of three to five years. The possibility of change negatively impacting the ability to make payments is one of the fears that debtors have when considering Chapter 13 bankruptcy . The good news is that the bankruptcy code [...]
In 2005 the government decided to overhaul the bankruptcy program in an effort to prevent abuse and fraud. The Bankruptcy Abuse Reform Act does this by looking at a person's income for the last six months and comparing it to incomes in the rest of the state. For people who want to file bankruptcy, for [...]