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 […]
CHAPTER 7 BANKRUPTCY: REDEEMING SECURED PROPERTY
One of the benefits of filing Chapter 13 bankruptcy is that you can sometimes cram down secured debt on vehicles. This means that you can force a creditor to accept repayment of a loan by paying the value of the vehicle rather than the entire claim. Chapter 7 bankruptcy has a similar tool available to […]
DALLAS BANKRUPTCY ATTORNEY: USING HOME EQUITY LOANS AND TITLE LOANS TO PAY OFF CREDIT CARDS MAY BE A BIG MISTAKE
Credit card debt has a way of getting out of control. Small balances can quickly become financial burdens when a missed or late payment results in late fees and an increase in the interest rate. One strategy for dealing with this type of problem is to refinance the debt. If you find yourself in this […]