Threatened or impending lawsuits can often prompt consumers on the verge of financial disaster to take a serious look at something they’ve been trying to avoid–declaring bankruptcy.  Many just want to know whether filing for bankruptcy means they can stave off a costly lawsuit.  Unfortunately, there is no black and white answer.  Instead, consumers have to answer questions about their own individual case. …

Category: Debt and Tax Relief , Lawsuits , bankruptcy law

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… could be legal consequences.  Only bankruptcy can neutralize a judgment.

Creditors file lawsuits because they want payment and are often willing to settle for a lesser amount of money. However, any settlement offers need to be in writing.  Beware of “debt settlement” firms who claim they can settle your debts for pennies on the dollar. You don’t need them to settle your debts. Creditors filing lawsuits often offer settlement amounts; but the forgiven …

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… a creditor is dangerous, unnecessary and foolish. If a debtor is facing debts, foreclosure, lawsuits or a disconnection of utility service, a bankruptcy attorney can submit an emergency bankruptcy filing with the court.  This emergency bankruptcy filing can stop all adverse creditor behavior and stop utility disconnection, lawsuits, wage garnishments, foreclosures and other creditor collection actions. Please do not make the mistake Ms. Hunt made by forging bankruptcy notices. Not …

Category: Bankruptcy , Fort Worth Lawyer , Lawsuits

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… as credit cards or medical debt, but they can be sued for the money. By using bankruptcy, creditor lawsuits and judgments are stopped immediately.

*On the other hand, a debtor may face prison if he/she engages in tax evasion or tax fraud and even this is rare. Don’t confuse failing to pay taxes because financial issues and not paying them because you are purposely avoiding them. The IRS has several programs setup to help tax debtors handle tax debt they can’t pay because of hardship. …

Category: Dallas Attorney , Fort Worth Attorney , Lawsuits

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Michael Lee Wilson could have 10 years removed from his 20 year sentence if his bankruptcy comes up with $2 million for his victims.

Back in October, Michael Lee Wilson Pleaded guilty to 59 felony counts of grand theft, because he had been camming people through his mortgage company, Pacific Coast Mortgage, for several years. He was originally arrestede in July and charged with 147 …

Category: Breaking News , Economy , Lawsuits , Loans / Mortgages

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In the bankruptcy case DiMare, Donna M.; In re (DiMare v. Ameriquest Mortgage Co., et al.) , the debtor filed Chapter 13 bankruptcy and sued their original mortgage lender under the Truth In Lending Act.  The bankruptcy court sided with the lender and issued a summary judgment in the lender’s favor.

The details of the bankruptcy case and lawsuit:

On Feb. 20, 2004, the debtor …

Category: After Bankruptcy , Bankruptcy , Lawsuits , Loans / Mortgages

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Auto dealership mogul Denny Hecker has been sued by bankruptcy trustee Randy Seaver who accuses Hecker of lying, fraud and scheming to conceal cars, cash, property and other assets from the bankruptcy court.

If Seaver has his way, Hecker won’t be allowed to use the protection of bankruptcy court to shield assets and escape the $767 million in debts he has amassed to scores of banks, …

Category: Bankruptcy , Chapter 11 Bankruptcy , Lawsuits

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According to an article in the Star-Telegram , American Corrective Counseling Services, a debt collection company has agreed to a $2.55 million judgment to settle a lawsuit brought by thousands of debtors who claimed they were wrongly led to believe they had to pay costly fees to avoid criminal charges for bouncing checks.

The article said:

“The company sent out letters as recently as …

Category: Debt Collectors , Lawsuits

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According to an article in the Star-Telegram , a woman who hid more than $255,000 from a bankruptcy trustee has been sentenced to nearly three years in prison.

The article said:

“Hardy filed a personal injury lawsuit in 2001 against GE Modular Space Transport International Pool Corp. She filed for bankruptcy before the settlement. Authorities say she hid proceeds from the lawsuit. …

Category: Bankruptcy Fraud , Lawsuits

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According to an article in the Associated Press, the nation’s largest construction subcontractor, Building Materials Holding Corp., will pay nearly $475,000 to a group of construction workers under a legal settlement approved by the bankruptcy judge overseeing the company’s Chapter 11 proceedings.

The article said:

“The lawsuit accused the company and its subsidiaries, including …

Category: Bankruptcy , Lawsuits , Unemployment - Job Loss

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According to an article in Bloomberg, Samsonite Co. Stores, the retail division of the luggage-maker Samsonite Corp., filed for Chapter 11 bankruptcy protection.

The article said:

“The recession has caused a severe decline in consumers purchasing travel-related goods and the company has responded to this critical situation with a substantial restructuring program,” Kyle Gendreau, …

Category: Bankruptcy , Chapter 11 Bankruptcy , Economy , Lawsuits

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Retailer’s August report reveals their 12th month of sales declines as many company’s hopes for a recovery are dashed.  According to an article in the Star-Telegram, retail stores saw an average sales decline of 3.4 percent for the month of August.

Stores suffering from declining sales include:

Target Corp. – minus 2.9 percent

Limited Brands Inc – minus 5.9 percent

Macy’s …

Category: Economy , Lawsuits , Unemployment - Job Loss

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