Latest on the Bankruptcy Blog

Filing Texas bankruptcy can sometimes be a matter of timing. A bankruptcy lawyer is always the best person to consult if you are considering filing bankruptcy, as everyone’s case is unique, everyone’s financial situation is different, and an expert eye will be invaluable in determining the right time to file. For example, if you have  … Read more

There is an awful lot of information out there about short sales these days, and the overabundance of advice can get confusing. Essentially, a short sale involves convincing your lender to agree to a sale of your property that will not fully cover the amount you owe on the mortgage. But it gets complicated quickly.  … Read more

This week in bankruptcy news: Another California city works to avoid bankruptcy, while Detroit faces big decisions in the resolution of its finances under risk of Chapter 9 bankruptcy. Read the full stories below: California’s Desert Hot Springs Holds Short of Bankruptcy Detroit’s decision to fend off bankruptcy: pay pensions or banks?

In order to qualify for Chapter 7 Texas bankruptcy, you must pass something known as the “means test.” Simply put, the means test is a metric for determining whether your income is low enough that you cannot pay your debts. The means test is the first step toward determining whether you qualify for Chapter 7   … Read more

If you are facing back taxes and looking for a way to have the payments reduced, there are strategies for negotiating with the IRS to do so. Debt negotiation in the form of a repayment plan is a very common way in which debtors with big amounts owed in back taxes can set up a  … Read more

For many people facing high amounts of debt, a Chapter 13 bankruptcy repayment plan can be a great option. Chapter 13 Dallas bankruptcy offers many protections and benefits to the debtor, while enabling them to create a repayment plan that is manageable based on their income level and expenses. Many people qualify for Chapter 13,  … Read more

When determining whether or not to file for Texas bankruptcy – or which chapter to file under – many people wonder about how the bankruptcy will affect their credit report. While it is true that  bankruptcy stays on your credit report for a good length of time, the negative effects of this fact are often  … Read more

A new study released recently shows that Dallas foreclosure rates are hitting record lows, with foreclosures down 49 percent from a year ago at this time. The numbers are consistent with a nationwide decrease in foreclosures that optimists are seeing as the beginning of a total housing recovery. Foreclosure Rates Lowest in Decade In Dallas,  … Read more

As a part of the Chapter 7 liquidation proceedings, the appointed bankruptcy trustee takes inventory of all your assets and determines their value. Any assets not protected by an exemption are subject to sale or auction in order to raise funds to help pay off your outstanding debts. In some cases, the trustee will abandon  … Read more

  The Home Affordable Refinance Program (HARP) has made refinancing your home and escaping crushing mortgage debt an option for many homeowners since 2009. However, there are still plenty of questions many borrowers have when seeking to refinance. These questions concern everything from eligibility to the terms of refinancing. Answers to some common eligibility questions  … Read more