Resources to Help You Master Your Money
Judgment Liens in Bankruptcy
BANKRUPTCY JUDGMENT LIEN Texas Property Code Section 52.001 provides that an abstract of judgment when recorded and indexed in a county in which a judgment debtor owns real property creates a valid judgment lien on that property, unless the real property is exempt...
Bankruptcy Job Discrimination
JOB DISCRIMINATION NOT ALLOWED AS A RESULT OF BANKRUPTCY A governmental unit may not deny, revoke, suspend or refuse to renew a license, deny employment to, terminate the employment of, or discriminate with respect to employment against a person who has sought...
Cram Down in Chapter 13
WHAT DOES "CRAM DOWN" MEAN? The term "Cram Down" commonly refers to the procedure by which a Chapter 13 debtor pays a car creditor the value of a vehicle at the time of the filing of a Chapter 13 plan or reorganization, as opposed to what the car creditor is...
Reaffirmation Agreements on vehicles in Chapter 7 Bankruptcies
YOUR VEHICLE IN A CHAPTER 7 BANKRUPTCY A Debtor in a Chapter 7 bankruptcy has three options with respect to personal property that is financed. The creditor that is owed on a note secured by the financed personal property is referred to as a "secured" creditor....
Life After Bankruptcy and Taking a Biblical Worldview
LIFE AFTER BANKRUPTCY I frequently tell clients that have filed for Chapter 13 or Chapter 7 bankruptcy protection that there is life after bankruptcy. Contrary to the misconception that bankruptcy ruins you for life, I often see clients in better financial...
Retaining or Keeping Credit Cards when Filing for Bankruptcy
By Mike Wallace, Bankruptcy Attorney, serving clients in all of East Texas, including Lufkin, Nacogdoches, Palestine, Jacksonville and other surrounding communities One of the most frequent questions I get from clients wanting to file for bankruptcy protection is...
Hardship Discharge of Student Loans
BANKRUPTCY AND STUDENT LOANS Under the United States Bankruptcy Code Section 523(a)(8), student loans are generally non-dischargeable in a bankruptcy. The exception to non-dischargeability of the defined student loans under the Code arises where the exception from...
Negative Equity in Motor Vehicles
MOTOR VEHICLE NEGATIVE EQUITY AND BANKRUPTCY Oftentimes when a person purchases a vehicle from a dealer they trade a vehicle for the purchase of the "new" one that has a debt owed against it. If the debt owed on the traded vehicle is greater than what the dealer...
Facing a Foreclosure on Your Home
For a mortgage company to properly foreclose on a homestead in Texas there is generally a two-step process. First, once the mortgagee determines you are in default they will send you what is commonly known as a "Notice of Default and Intent to Accelerate." This...
Rogue Collectors on Payday Loans
By Mike Wallace, Bankruptcy Attorney, serving clients in all of East Texas, including Lufkin, Nacogdoches, Palestine and Jacksonville Many clients come to me for bankruptcy services because they have acquired one or more of the predatory "payday loans" that have an...
