Tax refunds are treated differently depending on whether you file Chapter 7 or Chapter 13 bankruptcy. In a Chapter 7 case, if a debtor files a tax return before filing bankruptcy but receives a refund after their bankruptcy case is filed, they may have to turn the refund over to the bankruptcy trustee so that […]
OBJECTION/MOTION TO DISMISS IN YOUR CHAPTER 13 BANKRUPTCY CASE?
Texas Bankruptcy: A couple times a month I get a phone call or email from a client in distress because they received a copy of an objection to confirmation or a motion to dismiss their bankruptcy case. I have mixed feelings about these types of phone calls and emails. I am slightly frustrated, because during […]
TEXAS BANKRUPTCY: IS MY BANK ACCOUNT PART OF THE BANKRUPTCY ESTATE?
In many Dallas bankruptcy cases there is confusion about whether money in a bank account is part of the bankruptcy estate. For bankruptcy purposes, money in a bank account is part of your bankruptcy estate if the money in the account is your money. Just because your name is on a bank account doesn’t necessarily mean […]
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 […]
TEXAS BANKRUPTCY: YOU DON’T HAVE TO BE INSOLVENT
I received an email from a client recently asking if she needed to be “broke” before filing bankruptcy. I have never been asked this question before, and I am surprised, because it is a very good question. The Bankruptcy Code doesn’t require you to be insolvent in order to be eligible to file bankruptcy. Actually, […]