Chapter 13 bankruptcy allows a debtor to repay all or part of their debts over a 3 to 5 year period of time.  However, some debtors who have filed Chapter 13 bankruptcy may find themselves facing new financial difficulties at some point during the repayment period that prevents them from making agreed upon payments.  This reason alone has been major factor is scaring off some debtors …

Foreclosures in the Dallas- Fort Worth area rose again by 18 percent compared to last month’s foreclosure filings.  But compared to last year’s foreclosure filings in the same month, the foreclosures increased by a whopping 37 percent.  Many analysts believe that many foreclosures that were on hold at the end of 2009 are now being released causing the most recent rise in …

… taxes, you may be able to negotiate forbearance with the IRS.  Also, some taxes (depending on the age and other factors) may be dischargeable in bankruptcy.

The Mosaic Building apartments in downtown Dallas is facing foreclosure .  At least one of the building’s lenders has filed foreclosure on a $63 million loan.  Businesses and residents leasing in the building will not be impacted by the foreclosure.  Hamilton Properties which owns Mosaic said that it has no plans to lay off employees and there are no rumors of a future bankruptcy .  …

Many debtors behind on both their mortgage and property taxes wonder if bankruptcy can be used to stop a property tax sale of their home.  Fortunately for debtors facing a property tax sale of their home, bankruptcy can be used to stop the sale if they move quickly. Here’s what you need to do:

Before filing for bankruptcy, find out if there is a property tax lien on your home. In the …

Many business owners considering bankruptcy find it difficult to decide whether they should reorganize their debts Chapter 11 bankruptcy or liquidate their debts in a Chapter 7 bankruptcy.  Below are a few questions every business owner should ask before they file Chapter 11 bankruptcy.

Is my business viable?  Oftentimes businesses run into financial problems because they are running …

… life expectance is 80 years and the CDC predicts that many Americans could live to be 100 years old.  But what does that extra 20 years of life mean for America’s retirees?  It could mean that filing bankruptcy before your retirement may be more necessary for some, as nearly 50 percent of Americans fail to properly plan for their retirement.

Unlike past generations, many Americans are reaching age 65 with tons of debt, mortgages, credit cards and even car notes that weigh down on …

When it comes to bankruptcy there is a lot of misinformation floating around. Many debtors considering bankruptcy often listen to the half-truths and outright myths about bankruptcy instead of getting the truth from qualified sources.  Let’s take a look two of the most common myths out there about bankruptcy and get to the bottom of the truth.

Myth : Bankruptcy will ruin your credit …

Penton Business Media Holdings Inc. filed for Chapter 11 bankruptcy protection in hopes that the company can reduce the large amount of debt it incurred when the company bought trade-magazine publisher Penton Media Inc. three years ago.  Penton Business Media came to its bankruptcy decision after it became apparent it may not be able to pay its debts.  Penton Business and Penton Media …

Bankruptcy offers an opportunity at a fresh financial start of even the most indebted individuals.  But how does a debtor ensure that their financial affairs remain in the “black” after a bankruptcy?  Here are a few tips:

Create A Budget – Whether you filed a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, creating and sticking to a realistic budget will help you manage your …

… simultaneously preserving the equity in their home.

Only homeowners who are at least 62 years old, with no mortgage (or very low mortgage) and who have no liens against the property can qualify for a reverse mortgage. 

To find out more about reverse mortgages visit: http://www.occc.state.tx.us/pages/consumer/education/RevMortArt.htm

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 …