Even the best small businesses can face financial difficulties. When such circumstances arise, small business owners have the option to file bankruptcy in an attempt to alleviate their debt or to restructure their payments, buying more time to get their finances in…
Not all bankruptcy types work in the same way. The one thing they have in common is a systematic process. It is important to understand these steps in order to successfully file and complete the bankruptcy process. Future posts will cover the…
Income tax is a bittersweet matter for many Americans. On one hand, this interest-free loan to the government takes a large chunk of most taxpayers’ income each pay period. On the other hand, after going through the tedious process of…
If you are considering filing a bankruptcy case, one of your creditors may be a Pay Day Lender. Many people in financial difficulties resort to borrowing money from these lenders who can only be described as loan sharks. When you…
The Bankruptcy Court for the Western District of Texas has adopted a local rule that establishes $3,000.00, plus expenses, as the attorney’s fees for a Chapter 13 bankruptcy case for an individual. If you file a Chapter 13, you will be…
A Short sale of real estate means that the property is sold for less than the amount required to pay debts secured against it. This type of transaction requires the cooperation of the primary lender and any other creditors to…
As a Waco Bankruptcy Lawyer and a Killeen Bankruptcy Lawyer, I am frequently asked if getting a discharge in a bankruptcy case will make a client incur a tax liability. Under the U.S. Tax Code, if a debt is discharged in a bankruptcy case,…
Most of our clients think that if they file a bankruptcy case, they will never get credit again. As a Killeen Bankruptcy Attorney and a Waco Bankruptcy Attorney, I have found that not to be the case. We have many…
As a Killeen Bankruptcy Attorney and a Waco Bankruptcy Attorney my clients frequently ask me if they should reaffirm the debt owed on their home mortgage when they file a Chapter 7 bankruptcy case. In this scary real estate market, many homes with mortgages are…
As a Waco Bankruptcy Lawyer and Killeen Bankruptcy Lawyer I am frequently asked this question. When you file a Chapter 7 bankruptcy case or a Chapter 13 bankruptcy case, you must fill out bankruptcy forms called “bankruptcy schedules” which you sign…
