When Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 28, 2020, nearly everyone had questions about what the act contained. For bankruptcy professionals, there were two primary questions: Would the money be counted in calculating a debtor’s income? Would the money be part of the bankruptcy estate and subject to […]
A funny story from the world of credit…
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: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, […]
BANKRUPTCY: WHAT IS A 341 MEETING?
A 341 meeting, also known as a creditor’s meeting, is presided over by the United States Trustee, and allows creditors and the trustee an opportunity to question debtors about the schedules and statements filed in their bankruptcy case. This meeting is required under 11 U.S.C. § 341 of the Bankruptcy Code, hence the name. Creditors […]
BEFORE GETTING MARRIED YOU MAY WANT TO CONSULT A BANKRUPTCY ATTORNEY
Marriage can offer many financial benefits, including tax advantages, two incomes, and someone to share expenses. Unfortunately, getting married can cost you a great deal if you need to file bankruptcy. Getting married can make a person ineligible for Chapter 7 bankruptcy and increase their payments in Chapter 13 bankruptcy. I’m going to use an […]