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Category Archives: Bankruptcy

Required Counseling When Filing for Bankruptcy

Required Counseling When Filing for Bankruptcy

BANKRUPTCY COUNSELING There are two required counseling sessions that a person must complete before receiving a discharge of their debts under the bankruptcy code. The first of these counseling sessions must be completed prior to the filing of the bankruptcy case. This initial counseling session is generally referred to as the “pre-filing counseling” session and… Continue Reading

Notice of Missing Documents from Bankruptcy Court

Notice of Missing Documents from Bankruptcy Court

YOUR BANKRUPTCY DOCUMENTS There are two required counseling sessions that must be completed by every Debtor prior to receiving a discharge of their debts. We often have clients call us advising that they have received a document from the bankruptcy court titled “Notice of Missing Documents to Individual Debtor.” This notice generally relates to the… Continue Reading

Automatic Debits For Payments After Filing Bankruptcy

Automatic Debits For Payments After Filing Bankruptcy

PAYING WITH AUTOMATIC DEBITS AFTER FILING FOR BANKRUPTCY If you have car payments or other payments being made to a secured creditor by way of an automatic debit from a bank account, you will need to make arrangements with the creditor to pay them by other means once you have filed for bankruptcy. Creditors will… Continue Reading

Judgment Liens in Bankruptcy

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 from seizure or forced sale.¬† This judgment lien also attaches to property… Continue Reading

Bankruptcy Job Discrimination

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 protection under the Bankruptcy Act (11 U.S.C. Sec. 525(a)). Private employers may not… Continue Reading

Cram Down in Chapter 13

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 actually owed. This process under… Continue Reading

Life After Bankruptcy and Taking a Biblical Worldview

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 condition a short time after receiving a bankruptcy discharge. I have said it before,… Continue Reading

Life After Bankruptcy and Taking a Biblical Worldview

Life After Bankruptcy and Taking a Biblical Worldview

How to Rebuild Your Credit after Bankruptcy By Mike Wallace, Bankruptcy Attorney, serving clients in all of East Texas, including Lufkin, Nacogdoches, Palestine, Jacksonville and other surrounding communities 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… Continue Reading