The Wright Firm, LLP Bankruptcy

Texas Lawyers with Solutions

THE BANKRUPTCY ESTATE

When a debtor files bankruptcy, an estate is created.  The estate includes all of the person’s legal and equitable interests in property at the commencement of the case, and may also include any property the debtor becomes entitled to during the 180 day period following the filing of the bankruptcy case.  However, debtors can exempt [...]

How is a Bankruptcy Case Initiated?

A bankruptcy case is initiated by filing a petition for bankruptcy in the office of the Clerk of the Bankruptcy Court.  The petition lists the name, address and social security number of the debtor, states the necessary facts to show that the case has been filed in the right court, and alleges that the debtor [...]

Foreclosures Top One Million in 2010

From the American Bankruptcy Institute’s Website: Home Foreclosures in 2010 Top 1 Million for First Time Banks seized more than a million U.S. homes in one year for the first time last year, despite a slowdown in the last few months as questions around foreclosure processing arose, Reuters reported today. Banks foreclosed on 69,847 properties [...]

A funny story from the world of credit…

Okay, since here at DFW/Denton/Lewisville Bankruptcy we’re always addressing serious topics, I decided to keep it light today. There’s a story buzzing around the internet that a 3 year-old recently got an American Express Gold Card application in the mail. Also, there are many report of dogs and cats getting credit card offers. If that’s [...]

Cities Filing Bankruptcy

The CEO of JP Morgan has recently stated that municipality bankruptcies (cities filing bankrutpcy) are on a rise. This is yet another effect of the recession – with income on the decline and foreclosures on the rise, cities are losing precious tax revenue and having to cut necessary services. Analysts are looking to these cities [...]

Is The Economy Recovering?

By: Lauren Timmerman, Esq. www.thewrightlawyers.com According to the American Bankruptcy Institute, consumer bankruptcy filings were down 13% in November from October.  Credit card use by consumers is also at an all-time low compared to recent years, but spending is up, which signifies that consumers are finally able to start saving money. I’d like to hear everyone’s opinions [...]

What You Need To Know About Credit Cards

WHAT YOU NEED TO KNOW ABOUT CREDIT CARDS By: Lauren Timmerman, Esq. The Wright Firm, L.L.P. August 20, 2010 Credit cards can be a useful tool, if you know how to play by the credit card issuers’ rules. Those rules changed substantially in 2009, when President Obama signed the Credit Card Act of 2009 into [...]