The Texas Tomorrow Fund (now known as the Texas Guaranteed Tuition Plan) which allowed parents to prepay for tuition at locked-in rates is facing bankruptcy.  The now-closed fund, also promised that if a child dies or received a full scholarship, parents could cancel the contact and receive a payout based on current tuition and fees at public universities.  Sounds like a sweet deal?  The only …

Tags: Colleges and Universities Education Education Reform Texas Texas Tomorrow Fund Tuition

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In an effort to replenish the Texas unemployment insurance fund, the Texas Workforce Commission has announced that next year two-thirds of Texas businesses will pay nearly three times the unemployment benefits tax they paid this year.

Businesses that pay the minimum state unemployment tax will owe nearly $65 per worker in 2010, up from about $23 this year. Under Texas’ unemployment insurance system, the minimum tax is …

Tags: Employment Insurance Recession Texas Trust Fund Unemployment

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According to an article in the Dallas Morning News, Parents who invested in Texas’ prepaid tuition plan to pay for their child’s education and avoid student loans may be out of luck after November 30, 2009. On November 30 th new rules governing the program take effect that will change the way the Texas Guaranteed Tuition Plan calculates refunds.

The article said:

“The plan, which started selling contracts in 1996 as the Texas Tomorrow Fund, gave families …

Tags: Student loan Texas Tomorrow Fund Tuition

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According to an article in the Dallas Morning News, the Texas unemployment compensation fund is out of money and relying on loans from the federal government to survive. New taxation for businesses is probably the only way to get out of the red; but officials are hesitant to hit businesses with higher taxes during this recession.

The article said:

“No decision has been made, but commissioners could suspend for two years an assessment that makes …

Tags: Insolvency Recession Texas Unemployment benefits

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… proceedings if you already know you’re going to file for bankruptcy.  A recent case here in Texas demonstrates that failing to disclose your intention to file for bankruptcy during the course of divorce proceedings can make you liable for those divorce-related debts such as alimony on the basis of fraud.

In Anderson v. Wendt (In re Wendt), Adv. No. 05-3941 (Bankr. S.D. Tex. 2007), the Court found that Mr. Wendt was obligated to inform the plaintiff, Mrs. Wendt, about his intentions to …

Tags: Bankruptcy Divorce Law Lawyers and Law Firms Texas

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… , implemented 230 corporate and administrative job losses, including 160 job losses in East Texas.

“We operate a lean corporate structure,” said spokesman Chandler Keys. “One of the main goals is to make sure we don’t have layers of bureaucracy.”

While more job losses aren’t currently planned, Keys did not rule out additional job losses in the future.  As part of Pilgrim’s Pride’s Chapter 11 bankruptcy restructuring, the company has agreed to merge with the …

Comment author: Tweets that mention Pilgrim’s Pride’s Post Bankruptcy Moves Include Texas Job Losses | Reed’s Bankruptcy Blog — Topsy.com

Comment by Tweets that mention Pilgrim’s Pride’s Post Bankruptcy Moves Include Texas Job Losses | Reed’s Bankruptcy Blog — Topsy.com: … Moves Include Texas Job Losses http://bit.ly/4pDjMs …

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According to an article in the Dallas Morning News, the Texas unemployment benefits fund is empty. With Texas’ unemployment rate at an all time high, the state may be forced to borrow $1.5 billion from the federal government if it wants to continue paying jobless benefits to the state’s unemployed workers.

The article said:

“In the first quarter, the state paid benefits to only 35 percent of its jobless residents, a lower percentage than …

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According to an article in the Dallas Morning News, Texas is quickly burning through cash in the unemployment insurance trust fund. Just last week Texas paid out $64 million in unemployment benefits, which is more than twice the amount it paid out in the same week last year

The article said:

Larry Temple, the commission’s executive director, testified that the trust fund is expected to have just $48 million on Oct. 1, when it is required …

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According to an article in the Star-Telegram, Texas’ unemployment compensation trust fund may fall short $447 million by Oct. 1, because of the temporary suspension of the unemployment replenishment tax last year. Although the unemployment replenishment tax was reinstated this month, it won’t be enough to reach the $861 million required by Texas law.

The article said:

As a result of the deficit, the Texas Workforce Commission must …

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According to an article in the Star-Telegram, the Texas unemployment rate hit 8 percent for the first time in 22 years.  The last time the state experienced unemployment numbers that high was during the 1980’s oil bust.  But despite Texas’ high unemployment rate, the state is still fairing better than the country as a whole, which has an unemployment rate of 9.7 percent.

The article said:

“Despite our strong Texas economic …

Comment by Pamela: I have lived in Texas all of my life and as of Thursday …

Tags: Texas Unemployment

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… a $183 million loan.  This dollar figure equates to the largest commercial foreclosure in North Texas in more than 20 years.  The bank is seeking a forced sale on the property on February 2 nd.

BentleyForbes, the owner of the property, has been disputing with the loan holders since the fall of 2009.  At that time, the owners failed to make a scheduled debt payment, and insiders say the missed payment was a tactical move by the owners.  The owners wanted to send a message to the lender …

Tags: Bankruptcy Bentley Forbes Byron Nelson foreclosure Four Seasons Recession Texas Bankruptcy

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… Here are seven facts that should help you avoid a vehicle repossession disaster:

Repo men in Texas do not need a license to operate. Unfortunately for debtors facing car repossession this can mean dealing with a Texas repo man could prove more risky.  Keep this in mind when you think about “reasoning” or “arguing” with a repo man. If a repo man has come to repossess you vehicle, it is best not to argue or resist. You may be able to get your vehicle …

Tags: Bankruptcy Finance Law Repossession Texas

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