A homestead exemption is a statute that protects a debtor’s home from being seized by creditors. Every state has a homestead exemption of some sort, but Texas has a very generous homestead exemption. It allows for an individual to protect their home during bankruptcy up to the maximum value of the property. There is no […]
DALLAS CHAPTER 13 BANKRUPTCY ATTORNEY: WHAT IS CONFIRMATION?
DALLAS CHAPTER 13 BANKRUPTCY ATTORNEY: Debtors in Chapter 13 bankruptcy file a repayment plan with the Court that states which creditors will be repaid and the terms of the repayment. The plan is reviewed by the Trustee and the creditors who may or may not file an objection to confirmation of the plan. Objections to […]
DALLAS TEXAS BANKRUPTCY: REPAYING LOANS TO FAMILY MEMBERS
Dallas Texas Bankruptcy: One of the more unfortunate results of filing bankruptcy occurs when a debtor has made payments to a family member to repay a debt prior to filing bankruptcy. Section 547 allows the Trustee to avoid any transfer of an interest of the debtor in property made within 90 days before the filing […]
DOMESTIC SUPPORT OBLIGATIONS GIVEN PRIORITY IN BANKRUPTCY
The Bankruptcy Code provides special protection for parties’ owed domestic support obligations, such as child support, alimony, and spousal maintenance. In its present form, the Bankruptcy Code provides that domestic support obligations cannot be discharged in a Chapter 7 case and receive priority status in Chapter 13 bankruptcy plan. This priority status guarantees that domestic […]
DON’T USE HOME EQUITY LOANS TO PAY OFF YOUR CREDIT CARDS!
DON’T USE HOME EQUITY LOANS TO PAY OFF YOUR CREDIT CARDS! I have to admit, that I am a little behind the times technologically. I still have basic cable at home and I don’t have a DVR. So while many Americans can simply fast forward through television commercials, I actually watch them. One common theme […]