These two very similar sounding terms have very different meanings. The term joint debtor describes the second person listed on a bankruptcy petition when a married couple files bankruptcy. The first person listed on a bankruptcy petition is the debtor. There is no rule in the Bankruptcy Code that states either the husband or wife […]
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 […]
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 […]
The Bankruptcy Code Provides Extra Help to Disabled Veterans
In 2005, The Bankruptcy Code was revised, making it more difficult and sometimes impossible for many debtors to obtain relief under Chapter 7 of The Bankruptcy Code. Disabled veterans were excepted from some of the new eligibility requirements that affected most debtors. If you are a disabled veteran who became disabled while serving your country, […]
Why File Chapter 13 Bankruptcy?
North Texas debtors file Chapter 13 Bankruptcy for many different reasons, but in general debtors are seeking two forms of relief in Chapter 13 Bankruptcy. The first form of relief offered by the bankruptcy code is the automatic stay. The automatic stay is sometimes described as a gate closing, locking out the creditors. Basically, the […]