Under the Bankruptcy Code, your first payment is due “not later than 30 days after the date of the filing of the plan or the order for relief.” 11 U.S.C. § 1326(a)(1). This means that once a case is filed, the trustee must have a payment in hand within 30 days. A payment mailed on […]
CHAPTER 7 BANKRUPTCY: RESCINDING REAFFIRMATION AGREEMENT
You filed Chapter 7 bankruptcy but you want to keep your house, so you reaffirmed the mortgage payment. This means that your mortgage debt will not be discharged in the bankruptcy and you will be liable for the debt. But it also means that you will get to continue living in your house. Unfortunately, after […]
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 […]
Credit Repair Companies – Are They A Scam??
Every time the economy cycles down, businesses taking advantage of the downturn arise. The recent recession (or what some economists have actually labeled, “Depression”) and resulting credit crunch have resulted in credit issues for many consumers, and a related dip in their credit scores. Here come Credit Repair companies to the rescue, right? They can […]
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 […]