Bankruptcy is a perfectly valid right granted by the U.S. Constitution so you shouldn’t believe the untrue myths surrounding it!

Unfortunately, there are a whole lot of bankruptcy myths out there, many of which lead people to fear bankruptcy as the boogie man in the closet that will destroy their financial well-being.  Many times, exactly the [...]

In the bankruptcy case of Walker, Sedrick T.; In re, a Chapter 13 bankruptcy debtor’s case is dismissed with prejudice after the bankruptcy court determined that the debtor was attempting to abuse the system.
The details of the bankruptcy case:
The bankruptcy debtor has filed bankruptcy six times since 1994 and was filing his most recent case [...]

In the Chapter 13 bankruptcy case of Nutter, Gregory W.; In re, the bankruptcy court denied the Chapter 13 debtor’s motion to extend the automatic stay.
The details of the bankruptcy case:
“The Chapter 13 debtor and his wife were self-employed. Together, they filed for bankruptcy five times. Three of the bankruptcies were filed on the day [...]

In the bankruptcy case of Phillips, James T. and Shelly M.; In re (Whitney National Bank v. Phillips), the bankruptcy court ruled that the debtors could not pursue their claim against the lender because the claim arose before they filed for bankruptcy and had not been abandoned by the bankruptcy trustee.
The details of the bankruptcy [...]

Many debtors, who are delinquent on some debt and current on others, wonder if they need to include the debt that’s in good standing in their bankruptcy filing.  The simple answer is YES, you must include all of your debts and assets in your bankruptcy filing. Failing to include all of you debts and assets [...]

There be sharks out there…and they’re called debt collectors!  As the economy gets tougher and more people default on their credit cards, mortgage loans and other debt obligations, more debt collectors are crossing the line and engaging in illegal debt collection practices. If you are considering bankruptcy and have faced illegal collection actions by creditors, [...]

When a debtor files Chapter 13 bankruptcy, the bankruptcy court and debtor work together to create an affordable monthly repayment plan that will allow the debtor to maintain a typical middle-class lifestyle.  The debtor makes payments for 3 to 5 years and at the end of the term the debt that was not repaid [...]

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, chief financial officer [...]

The metroplex continues to feel the pain of unemployment as updated stats were announced today in the Denton Record-Chronicle.  The City of Denton and Denton both experienced significant increases in their unemployment rates.   The article stated:  “Denton County’s unemployment rate reached 7.6 percent in June, up a full point from 6.6 percent in May. The [...]

In the bankruptcy case of Raeder, Nathaniel F.; In re (Harrold v. Raeder), the bankruptcy court ruled that the plaintiff’s claim was not excepted from bankruptcy discharge.
The details of the bankruptcy case:
In 2003, due to a broken shoulder and the inability to move around or write, the debtor’s mother (the plaintiff) had delegated to her [...]

Many people ask me about discharging student loans when they’re looking into filing for bankruptcy.  Typically, student loans aren’t discharged during bankruptcy proceedings.  It’s not impossible to accomplish if you can show that paying the student loan debt “will impose an undue hardship on you and your dependents”.  Bankruptcy judges use various tests to determine [...]

Divorce can often be a big factor when people are making the tough decision whether or not to file for bankruptcy.  Sometimes, divorce is the cause of the financial hardship leading the individual toward bankruptcy.  Other times, individuals need to know what the requirements are when it comes to divorce settlement proceedings if you already [...]