Blog Posts in February, 2011
Posted on Feb 28, 2011 By Majed
An individual that has the desire to pay their creditors but does not have the means, may be an ideal candidate for a Chapter 13 repayment plan. Chapter 13 was created for this debtor in mind. In this ...
Continue reading "I Want to Pay My Debts but Can’t; Should I File for Bankruptcy? " »
Posted on Feb 25, 2011 By Majed
No. It is not mandatory for a Chapter 7 debtor to sell his/her vehicle in order to obtain a discharge. The state of Texas allows for exemptions of certain personal property, such as a vehicle or a ...
Continue reading "Must I Sell My Car in a Liquidation Proceeding?" »
Posted on Feb 23, 2011 By Majed
Presidents are known for a lot of things – intellect, shrewdness and charm to name a few. However, there have been at least four U.S. presidents who filed for bankruptcy at one point including Ulysses ...
Continue reading "Presidents who Filed Bankruptcy" »
Posted on Feb 21, 2011 By Majed
Many individuals earn additional income by moonlighting at other employers. Oftentimes these positions are distinguished from traditional employment by the title independent contractor. Most of the ...
Continue reading "Must I Include Untaxed Supplemental Income in my Bankruptcy Petition?" »
Posted on Feb 18, 2011 By Majed
You have probably heard radio advertisements about law firms that offer to seal a criminal record so that it does not appear on a public records search. Unlike criminal records, bankrupticies do not ...
Continue reading "Can I Seal my Bankruptcy?" »
Posted on Feb 16, 2011 By Majed
In some cases. There are myriad reasons why a child could have debt. For example, many children, even healthy ones, have expensive emergency room and other bills that were not paid by parents. For ...
Continue reading "May a Parent File for Bankruptcy on Behalf of a Child?" »
Posted on Feb 14, 2011 By Majed
Yes, a married person may file for bankruptcy alone. As one member of a married couple, you have the option of filing a separate bankruptcy petition or filing a joint petition with your spouse. You ...
Continue reading "I'm Married. Can my spouse and I each file separate bankruptcies?" »
Posted on Feb 11, 2011 By Majed
With the popularization of corporate restructurings in the media, many individuals may confuse aspects typically attributed to a Chapter 13 with a Chapter 7. Many businesses choose to identify ...
Continue reading "May I Have Priority Creditors in a Chapter 7?" »
Posted on Feb 9, 2011 By Majed
Yes. Bankruptcy is not a financial death sentence. Many major banks offer second chance programs for individuals who have come across financial difficulty in the past, such as check returns for ...
Continue reading "Can I Obtain a Checking Account after Bankruptcy?" »
Posted on Feb 7, 2011 By Majed
In order to file for a Chapter 7 liquidation an individual must pass a means test, which determines that an individual allocates a certain, significant portion of his/her income to debt. Thus, any ...
Continue reading "Should I Get a Part-Time Job During my Chapter 7 Liquidation?" »
Posted on Feb 4, 2011 By Majed
Absolutely not. There are varying types of bankruptcy for varying levels of debtors. Under a Chapter 7 bankruptcy an individual qualifies if their monthly income barely meets or is less than their ...
Continue reading "Does Bankruptcy Mean You Are Broke?" »
Posted on Feb 2, 2011 By Majed
Bankruptcy was created to provide hard-working individuals facing an overwhelming amount of debt a fresh start on their finances. It is a tool that can be used to prevent foreclosure, vehicle ...
Continue reading "At What Point Should I Consider Bankruptcy?" »
Posted on Feb 1, 2011 By Majed
While it is true that the fact that an individual filed for bankruptcy is a matter of public record, sensitive information is not included in the record. Information such as a debtor's social security ...
Continue reading "If my bankruptcy is public information how is my information protected?" »