There’s an interesting article in the Dallas Morning News which quotes Kent Swig, a millionaire real estate developer who is struggling with a $28 million judgment on his condo conversion project. His comments were very revealing about how he and others like him view bankruptcy. Referring to his personal bankruptcy options, Swig said:
“We are [...]

According to an article in the Star-Telegram, the Better Business Bureau is warning consumers away from using debt settlement companies, which often worsen their financial condition and fail to deliver on their promises.
The article said:
“The Better Business Bureau at Fort Worth has just completed a report on debt settlement businesses and warns consumers that [...]

For self-employed and small business owners considering Chapter 11 bankruptcy, filing bankruptcy creates anxiety about their ability to continue operating their business and earning an income.  Fortunately, the bankruptcy laws allow business owners to file bankruptcy as a “debtor in possession.”  What that means is that the debtor is allowed to file Chapter 11 bankruptcy [...]

Prescreened credit card offers are a disaster waiting to happen when you consider identity theft.
Whether you are considering bankruptcy, or if you have already filed for bankruptcy, protecting yourself from identity theft is always a good idea.  Identity theft can take a long time to recover from and nobody wants the headache involved with getting [...]

In the bankruptcy case of Littleton, William L.; In re, the bankruptcy court rejected the debtor’s homestead exemption.
The details of the bankruptcy case:
“The Chapter 7 debtor owned no real prop­erty when he filed for bankruptcy. He disclosed that he transferred 6.64 acres of land in Tennessee about two months prior to filing for bankruptcy. After [...]

You are protected under the Bankruptcy Protection Act if a creditor tries to collect on a discharged debt.
The relief you will have after your bankruptcy is discharged is huge.  Just imagine going from one day not knowing how you are going to pay your bills to the next day having several of your debts wiped [...]

Let’s roll back the clock a bit. Assume it is 2003, and you are in the middle of filing your taxes. You realize that, for one reason or another, you did not pay enough in taxes for that year. Instead of getting a nice refund, you now owe Uncle Sam a sum of money that [...]

Get bankruptcy information from a qualified attorney.
Everyone likes to learn new ways to save money.  Several web sites are dedicated to groups of people sharing ideas and giving pointers on the latest sales, the best coupon, or how to make family time fun on a budget.  Each of these is chalked full of good advice [...]

Funding shortages and higher volume taxing manpower of the TWC.
According to the Star Telegram and the Texas Workforce Commission, unemployment claims paid through TWC have more than doubled since 2008.  The increase in the number of filings is adding even more pressure to the already stressed TWC.  According to the article, the TWC has lost [...]

In the bankruptcy case of (DiGiovanni, Peter W.; In re), the bankruptcy court grants a debtor’s motion to impose stay despite several mishaps that nearly landed him in jail.
The details of the bankruptcy case:
After the debtor (who is also a non-bankruptcy lawyer) was removed as the executor of the estate, the state court found the [...]

Reaffirmation is where you consent to paying back all or part of a debt even though you may not have had to.
Before the 1978 Bankruptcy Code put an end to it, creditors used to trick debtors into reaffirming their debts.  The process of tricking debtors isn’t as complicated as you would think, because all the [...]

Most debtors hear the phrase “debt to income ratio” and they aren’t sure what it means exactly. In a nutshell, a debtor’s debt to income ratio is the percentage of debt they have in ratio to their income.  This debt to income ratio is used by credit card companies, mortgage lenders, car financers and others [...]