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 […]
BANKRUPTCY: AVOIDING LIENS
In bankruptcy, debtors have the ability to avoid two types of liens, meaning they can remove the lien from the collateral and make the debt unsecured. A lien can be avoided if it impairs a debtor’s exemption to which the debtor would have been entitled if not for the lien. For example, if a debtor […]
BANKRUPTCY: AVOIDING LIENS
In bankruptcy, debtors have the ability to avoid two types of liens, meaning they can remove the lien from the collateral and make the debt unsecured. A lien can be avoided if it impairs a debtor’s exemption to which the debtor would have been entitled if not for the lien. For example, if a debtor […]
BANKRUPTCY: CREDIT COUNSELING AND DEBTOR EDUCATION
The Bankruptcy Code requires that all individuals filing bankruptcy receive credit counseling before their case is filed. Credit counseling must be provided by an agency approved by the Department of Justice’s U.S. Trustee Program. These agencies will charge a fee of around $50. Upon completion of the course, debtors receive a certificate of completion. This […]
BANKRUPTCY:DISCLOSE YOUR CAUSE OF ACTION OR LOSE YOUR RIGHT TO SUE
When a person files bankruptcy, they are required to list all of their assets in their bankruptcy schedules. In bankruptcy, an asset is anything you own, but it also includes anything you may acquire contingent upon some event happening. For example, if you are in a car wreck, you may acquire a cause of action, […]