Blog Posts in September, 2010
Posted on Sep 29, 2010 By Majed
There are a number of programs available that claim to help consumers manage their debt and lead them on the road to financial freedom. However, in the eyes of the United States Bankruptcy Court all ...
Continue reading "How to Choose Your Credit Counseling Program?" »
Posted on Sep 27, 2010 By Majed
In a Chapter 13 repayment plan the debtor is in control of what debts he/she will repay. This is typically driven by what items the debtor has a security interest in and would like to keep, i.e. a ...
Continue reading "What Debts do I Repay in Chapter 13?" »
Posted on Sep 24, 2010 By Majed
No. Although bankruptcy is a matter of public record, in most cases an individual or entity would have to go look up whether or not a debtor filed for bankruptcy. Past, current and future employers do ...
Continue reading "Will my Current Employer be Notified that I Filed?" »
Posted on Sep 22, 2010 By Majed
More than likely, yes. The state of Texas as well as the federal bankruptcy code provide exemptions for personal property that may be retained during a liquidation proceeding. Under the federal code a ...
Continue reading "Can I Keep my Car in Chapter 7?" »
Posted on Sep 20, 2010 By Majed
The trustee represents the interest of the bankruptcy estate. The trustee does not represent the interests of the creditors or the debtor. The United States Trustee has regional offices that appoint ...
Continue reading "Whose Interest does the Trustee Represent?" »
Posted on Sep 17, 2010 By Majed
Filing for bankruptcy in the state of Texas has certain benefits. One major benefit is that Texas has a list of exemptions, meaning things (up to a certain value) a trustee cannot reach in a ...
Continue reading "Can the Trustee Reach my Pension?" »
Posted on Sep 15, 2010 By Majed
Informal bankruptcy is a term used by industry professionals to describe a growing underclass of individuals forced into mortgage foreclosures, car repossessions, student loan default and other ...
Continue reading "What is Informal Bankruptcy?" »
Posted on Sep 13, 2010 By Majed
According to many bankruptcy experts, despite the rapid increase in consumer filings many in financial straits are not taking advantage of the tool according to a recent article published in USA ...
Continue reading "Rise in Bankruptcy Does Not Encompass Need" »
Posted on Sep 10, 2010 By Majed
ASAP! Filing for bankruptcy, in addition to being a very difficult and personal decision, is a legal decision. A judge is involved and the all decisions have teeth. Therefore it is imperative to ...
Continue reading "When Should I Consult a Bankruptcy Attorney?" »
Posted on Sep 8, 2010 By Majed
Under the bankruptcy code, the debtor's repayment plan must be filed with the court along with the original petition or within 15 days from the filing. This plan must provide proposed payments to all ...
Continue reading "The Chapter 13 Plan and Confirmation Hearing" »
Posted on Sep 6, 2010 By Majed
Many people considering filing for bankruptcy mistakenly believe that creditors have the same rights and access as the trustee. This is not the case. In a Chapter 7 or 13 filing creditors have a right ...
Continue reading "What Information do my Creditors have Access to?" »
Posted on Sep 3, 2010 By Majed
Just this week a Maryland woman was sentenced to 46 months in prison for bankruptcy fraud. The woman reported inaccurate income levels for a 2004 bankruptcy filing. During that time period she applied ...
Continue reading "Beware of Bankruptcy Fraud" »
Posted on Sep 1, 2010 By Majed
According to a new report by Reuter, bankruptcy filings in the U.S. have reached the highest level since 2005. Texas had one of the lowest filing rates, ranking 48 th in per capita filings. Among ...
Continue reading "Bankruptcy filings at highest point since 2005" »