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4 Personal Finance Tips – How to Avoid Going Bankrupt Bankruptcy is sometimes an inevitable ‘fate’ for individuals and companies. You might go bankrupt after an unexpected turn of events which may be a sudden loss of income, an accident causing an irreplaceable damage barring you from working any further, a natural calamity destroying your livelihood, a drop in the value of shares for your company and stock market crash and
How to Afford Everything You've Always Wanted At some point, everyone has wished that they were independently wealthy. Contestants on reality TV are always winning inordinate amounts of prize money. Celebrities are constantly buying more expensive clothing and real estate and taking luxurious vacations. Keeping up with Jones’ seems to get tougher every year. But there are ways to afford anything and everything you’ve always wante
You should go to credit counseling first You may be feeling hopeless and alone right now. You’re probably wishing you had a friend you could talk to without feeling embarrassed…someone to advise you about what to do. Unfortunately, some friends don’t give the best advice. In fact, someone has probably already suggested that you try credit counseling instead of bankruptcy. If that someone is a credit card company, you are not ta
You cannot file bankruptcy more than once If you’ve filed bankruptcy before and you’re finding yourself in that same position again, don’t despair. Bankruptcy often happens more than once because the main causes of bankruptcy—divorce, health bills and job loss—happen over and over again, too. Take a look at these statistics: More than 50% of marriages end in divorce Unemployment has doubled Over 15 million people have lo
Your first visit with our office Congratulations on taking the first step to alleviating the stress and pressure in your life by setting up a consultation with us. You are exercising a right that many in your situation have exercised before. We look forward to seeing you soon and starting to help your situation. If it's been some time since you contacted our office. If you haven’t hired another firm, your creditors are probably sti
Have any of the blog posts we’ve covered so far applied to your situation? Financial stress can consume your life, ruin your health and damage your relationships. Is this happening to you? If so, please call us and experience the relief a complementary consultation can bring. One of the greatest concerns some people have is whether they’ll ever be able to live a normal life again…never buy a house…never own their dream car. The unknow
You’ve heard the old sayings, haven’t you? “No one likes a Rockefeller.” “It’s lonely at the top.” “Rich people can’t file bankruptcy.” But the truth is that some of the richest people around have filed bankruptcy. Here’s just a partial list from a top 20 list on How to Save Money dot com: Cyndi Lauper Willie Nelson Toni Braxton Walt Disney Mike Tyson Natalie Cole Tom Petty Larry King Donald Trump Henry Ford
Before you file for chapter 7 bankruptcy or chapter 13 bankruptcy you must consult a nonprofit credit counselling agency. The purpose for this counselling is to see whether there is a way to handle your debt load besides having to file bankruptcy but without adding to what you already owe. Credit counselling requirements In order to qualify for debt relief by way of bankruptcy, a debtor must receive counselling from an agency approved by th
For some debtors chapter 13 bankruptcy is a better option that chapter 7 bankruptcy and in some cases chapter 13 bankruptcy is the only option, as these debtors do not qualify for chapter 7 bankruptcy. Many debtors assume that chapter 7 bankruptcy is better than chapter 13 bankruptcy, however, that is not always the case. This blog will address situations that prove to make chapter 13 bankruptcy favorable to the debtor and a better option than
You got yourself into this mess. Shouldn’t you be the one to get yourself out it? In most cases being a “responsible” person is a good thing. But when it comes to bankruptcy, this approach can honestly cause you more trouble than you deserve. If this is how you’re feeling, you’re making your creditors VERY happy. You can avoid bankruptcy simply by working out a settlement Truth: Working with creditors is harder than you
Rising Houston Property Values Affect Bankruptcy Cases As many have heard, over 70% of homeowners in Harris County are facing higher tax bills because the value of their houses are rising. This affects bankruptcy cases because a higher value may mean the inability to use Federal exem
Missed Appointment   You took the first, courageous step toward a better financial life. Unfortunately, you missed your appointment. We wanted to let you know that we are still here to help. And we’re happy to reschedule our visit. We know your options when it comes to bankruptcy. But certainly there are other ways of dealing with debt. Perhaps you’re considering liquidating assets or borrowing from friends and fami
Most state bankruptcy exemptions are specific to a type of property at a specific value or amount and can only be used to protect that property at that amount. Some examples of such exemptions are: Equity in your personal residence Car or motorcycle Household goods (such as appliances, bedding, clothing, garden tools, furnishings) Tools that are needed for your business or professio
One big reason people hesitate to file bankruptcy is the fear of losing important assets. If you’re concerned about your house and cars, it’s time you know the truth. You will lose important assets like your house and your car if you file bankruptcy Truth: Bankruptcy can help you keep your house and your car. In fact, bankruptcy can stop foreclosure, prevent a bank from repossessing vehicles and even get your car back if it has bee
If you File your tax returns late you Will owe IRS interest later The IRS Chief Counsel sent out a memo in 2010 discussing how non-dischargeable taxes will be treated in bankruptcy case. Obviously, if a tax was not discharged in bankruptcy, any interest that accrues on those taxes would also survive th
NOT ALL LOAN MODIFICATIONS ARE GOOD We have been reviewing loan modifications for our clients over the past six years. The first round of loan modifications appeared to be good deals. We saw modifications that lowered interest rates, converted
Email Notices from the Bankruptcy Court Houston Texas If you are a debtor in bankruptcy, and live in the Houston region of Texas, all of your notices from the bankruptcy court come from the bankruptcy noticing center located at 2525 Network Place Herndon, VA 20171-3514.  You may an outstanding lawyer who is forwarding to you all claims and documents filed in your case.  On the other hand, you may not.  The bankruptcy noticing center
Are your financial problems still keeping you awake at night? Have you unplugged your phone to avoid harassing calls? Are you having thoughts that clearly indicate you are depressed? We know how you feel. Many of our clients felt like there was no way out of their situation…and that there never would be. Houston Bankruptcy Attorney There comes a point at which financial difficulties turn into more than that. But sometimes a
Unless you're a lawyer, you probably have no idea what Chapter 7 and Chapter 13 really mean. To many of our clients, legal terms can really be intimidating. We want to help you understand the difference so you can make the best decision for you and your family. Bankruptcy is bankruptcy It doesn’t matter what kind you file. Truth: There are two common types of consumer and small business bankruptcy. Each one takes a different ap
527 Disclosure Notice for Bankruptcy Note: This Notice and the Statement are required by legislation adopted by Congress in 2005, after intense lobbying by the credit industry. In our opinion they are designed to intimidate people who need debt relief under the Bankruptcy Code, and are based on the erroneous assumption that debtors are dishonest. So long as you are honest and meet the requirements set out under the law