Blog Posts in October, 2010
Posted on Oct 29, 2010 By Majed
The United States Bankruptcy Court of the Northern District of Texas is available 24 hours a day, save for 15 minutes every day for regular maintenance, through its electronic claims filing (ECF) ...
Continue reading "What to do when the Court is Closed?" »
Posted on Oct 27, 2010 By Majed
Every year a very small number of bankruptcy debtors are audited randomly to authenticate their petition. During an audit, a company will go through your records and make sure that you have presented ...
Continue reading "What to do when your Bankruptcy is Audited" »
Posted on Oct 25, 2010 By Majed
The Bankruptcy Code requires that a debtor list all creditors in the bankruptcy petition. A creditor is someone that you owe money too. This may include the cable company, Fannie Mae and Mom. For all ...
Continue reading "When Mom is a Creditor" »
Posted on Oct 22, 2010 By Majed
Typically a creditor cannot force an individual into filing personal bankruptcy. On the converse, a company may be forced into bankruptcy if enough creditors get together that are owed a certain ...
Continue reading "Can a Creditor Force me into Bankruptcy?" »
Posted on Oct 20, 2010 By Majed
Absolutely not. College admissions applications are prohibited by federal law to discriminate against protected classes, such as an individual that has filed for Chapter 7 or Chapter 13 protection. ...
Continue reading "Will Bankruptcy Keep me out of College?" »
Posted on Oct 18, 2010 By Majed
There is no clear cut answer for this. Bankruptcy is, at its core, a legal proceedings and minors may not initiate a civil proceeding on their own behalf. Typically, parents or legal guardians must ...
Continue reading "Can Children file for Bankruptcy?" »
Posted on Oct 14, 2010 By Majed
The general consensus is 91 days. According to the United States Bankruptcy Code, one must reside in the jurisdiction that they wish to file bankruptcy for the greater part of the last 180 days (28 ...
Continue reading "How Long do I have to live in Texas to file Bankruptcy?" »
Posted on Oct 13, 2010 By Majed
No. Similar to race, gender, religion, etc. a debtor who files or has filed for personal bankruptcy is a member of a protected class under federal law. According to the Bankruptcy Code, at 11 U.S.C. ...
Continue reading "Will Filing for Bankruptcy keep me From Working in Certain Industries?" »
Posted on Oct 11, 2010 By Majed
When a debtor files for Chapter 7 the ultimate goal is to obtain a discharge of eligible consumer debt. This would include an apartment lease. However, because an apartment lease is a secured item, ...
Continue reading "Will Filing for Chapter 7 get me out of my Apartment Lease?" »
Posted on Oct 8, 2010 By Majed
Given the stigma many associate with bankruptcy, why would someone who is rich, famous and glamorous file for bankruptcy? It's simple - they know what many average Americans are starting to learn. ...
Continue reading "Why do Celebrities File for Bankruptcy" »
Posted on Oct 6, 2010 By Majed
The real question is can you afford not to. There are filing fees associate with filing for Chapter 7 or Chapter 13 and associated legal fees. However, the risks of not filing for bankruptcy can be ...
Continue reading "Can I Afford to File for Bankruptcy?" »
Posted on Oct 3, 2010 By Majed
Bankruptcy can be a daunting process for the layperson. Going to court, meeting with the trustee and interacting with creditors on your own can be intimidating and cause some people to not receive the ...
Continue reading "What Should I Know about Bankruptcy?" »
Posted on Oct 1, 2010 By Majed
For the purposes of a credit report a bankruptcy is treated like any other financial misstep. Experts estimate that a bankruptcy is reflected for 7-10 years. However this is no different than a ...
Continue reading "How Long Does Bankruptcy Stay on Your Credit?" »