The Wright Firm, LLP Bankruptcy

Texas Lawyers with Solutions

TEXAS BANKRUPTCY LAWYER: DOWNWARD TREND IN FORECLOSURES ?

TEXAS BANKRUPTCY LAWYER: DOWNWARD TREND IN FORECLOSURES NOT NECESSARILY A SIGN OF ECONOMIC RECOVERY I recently read an article in the San Antonio Business Journal by Tricia Lynn Silva regarding the downward trend in foreclosures.  Her article says in part:   “As of Nov. 30 2011, a total of 10,124 foreclosure notices had been filed [...]

MORTGAGE DEBT: STRATEGIC DEFAULT VERSUS BANKRUPTCY

A strategic default is a property owner’s decision to stop making payments to a mortgage lender and to allow property to be foreclosed.  Whether a strategic default is a good idea depends on the property owner’s specific situation and the state in which the property is located.  Each state has its own set of rules [...]

NORTH TEXAS BANKRUPTCY: TEMPORARY WAIVER OF CREDIT COUNSELING REQUIREMENT

Before a debtor can file bankruptcy they must complete a prebankruptcy credit counseling course.  This course must have been completed within the 180-day period prior to the filing of the bankruptcy petition.  Failure to comply with the credit counseling requirement can result in an order striking the petition, which results in no bankruptcy case being [...]

BANKRUPTCY: VICARIOUS LIABILITY DOES NOT APPLY TO § 523(a)(9

As a bankruptcy attorney I have focused my practice on a specific type of legal practice.  I don’t know much about drafting a will, litigating a lawsuit, or defending a criminal action, but I know a lot about consumer bankruptcy.  Similarly, in my experience I have found that attorneys practicing other types of law know [...]

BANKRUPTCY: EXEMPTION FROM THE CREDIT COUNSELING REQUIREMENT

Debtors wishing to file bankruptcy are required to successfully complete a credit counseling course during the 180 days prior to filing bankruptcy.  However, debtors that can show that they are incapacitated due to mental or physical disability may be exempt from this requirement.  Under Sec. 109(h)(4) of the Bankruptcy Code, a debtor may be excused [...]

Texas Bankruptcy Attorney: WHAT IS TRCC?

Texas Bankruptcy Attorney: TRCC is an acronym for Trustee’s Recommendation Concerning Claims.  TRCC is the point in a Chapter 13 case when the trustee reviews the claims filed by creditors, decides if objections to claims should be filed, and determines if the confirmed plan is sufficient to pay all allowed claims.  To understand TRCC it [...]

AUTOMATIC STAY APPLIES TO DALLAS BANKRUPTCY ATTORNEYS TOO

When I meet with a client, usually one of the first topics they want to discuss is how much is bankruptcy going to cost them and how are they going to pay their attorney’s fees.  Understandably this is a concern, because if money wasn’t tight they wouldn’t be seeking the help of a bankruptcy attorney.  [...]

TEXAS BANKRUPTCY ATTORNEY: BANKRUPTCY MYTHS

TEXAS BANKRUPTCY ATTORNEY: BANKRUPTCY MYTHS:  There is a lot of content on the internet about bankruptcy.  From my regular internet searches on the subject, I estimate that ten percent of bankruptcy content is posted by bankruptcy attorneys who usually know what they are talking about.  The rest of the information on the internet is confusing, [...]

THINGS NOT TO DO IF YOU THINK YOU MIGHT FILE BANKRUPTCY (PART 2)

I recently wrote an article about what not to do if you think you might file bankruptcy.  About halfway through the article I realized that there is a lot of information on this topic, so I divided it into two parts.  The following list consists of what not to do if you intend to file [...]

Dallas Bankruptcy Attorney: BANKRUPTCY FRAUD IS NOT WORTH THE RISK!

Dallas  Bankruptcy Attorney: When I prepare bankruptcy documents, I stress to my clients that they need to be accurate.  In fact, lying on bankruptcy documents carries a maximum potential penalty of five years in prison and a fine of up to $250,000.  The area where bankruptcy fraud is most common is in preparation of the [...]

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